Terms Used In Illinois Compiled Statutes > Chapter 805 > Corporations

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Appraisal: A determination of property value.
• Arrest: Taking physical custody of a person by lawful authority.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authority: means the Sheldon Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/250-5
• Authority: means the Springfield Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/255-5
• Authority: means the Sterling Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/260-5
• Authority: means the Waukegan Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/270-5
• Authority: means the West Frankfort Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/275-5
• Authority: means the Will County Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/280-5
• Authority: means a School Finance Authority created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Authority: means a School Finance Authority created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the governing and administrative body of the Sheldon Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/250-5
• Board: means the governing and administrative body of the Springfield Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/255-5
• Board: means the governing and administrative body of the Sterling Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/260-5
• Board: means the governing and administrative body of the Waukegan Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/270-5
• Board: means the governing and administrative body of the West Frankfort Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/275-5
• Board: means the governing and administrative body of the Will County Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/280-5
• Bonds: means bonds authorized to be issued by the Authority under Section 1E-65 of this Code. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Bonds: means bonds authorized to be issued by the Authority under Section 1F-65 of this Code. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• Budget: means the annual budget of the district required under Section 17-1 of this Code, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Budget: means the annual budget of the district required under Section 17-1 of this Code, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• Carrier: means any motor carrier or rail carrier other than a private carrier. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• Certificate: means a certificate of public convenience and necessity issued under this Chapter to common carriers of household goods. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
• Chairperson: means the Chairperson of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Chairperson: means the Chairperson of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Circuit clerk: means clerk of the circuit court. See Illinois Compiled Statutes 5 ILCS 70/1.26
• Commission: means the Illinois Commerce Commission. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
• Commission regulations and orders: means rules and regulations adopted and orders or decisions issued by the Commission pursuant to this Chapter; any certificate, permit, broker's license or other license or registration issued pursuant to such rules, regulations, orders and decisions; and all terms, conditions, or limitations thereof. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. ^{Source: OCC}
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Continuance: Putting off of a hearing ot trial until a later time.
• County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Decedent: A deceased person.
• decree: is synonymous with the word "judgment". See Illinois Compiled Statutes 5 ILCS 70/1.24
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Discrimination: means undue discrimination in the context of the particular mode of transportation involved. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• District: means any school district having a population of not more than 500,000 that prior to the effective date of this amendatory Act of the 92nd General Assembly has had a Financial Oversight Panel established for the district under Section 1B-4 of this Code following the district's petitioning of the State Board of Education for the creation of the Financial Oversight Panel and for which the Financial Oversight Panel has been in existence for at least one year. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• District: means any elementary school district having a population of not more than 500,000 that prior to December 1, 2002 has had a Financial Oversight Panel established for the district under Section 1B-4 of this Code following the district's petitioning of the State Board of Education for the creation of the Financial Oversight Panel. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• Docket: A log containing brief entries of court proceedings.
• Donor: The person who makes a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Executor: A male person named in a will to carry out the decedent
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Felony: A crime carrying a penalty of more than a year in prison.
• Fiduciary: A trustee, executor, or administrator.
• Financial plan: means the financial plan of the district to be developed pursuant to this Article, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Financial plan: means the financial plan of the district to be developed pursuant to this Article, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1F-10
• General Revenue Law of Illinois: or any equivalent expression, when used with reference to revenue, shall be deemed to refer to the Property Tax Code and all existing and future amendments thereto and modifications thereof, and all rules now or hereafter adopted pursuant thereto. See Illinois Compiled Statutes 5 ILCS 70/1.23
• Governor: means the Governor of the State of Illinois. See Illinois Compiled Statutes 70 ILCS 200/255-5
• Governor: means the Governor of the State of Illinois. See Illinois Compiled Statutes 70 ILCS 200/280-5
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• Household goods: means :
          (A) Personal effects and property used or to be used