Terms Used In Illinois Compiled Statutes > Chapter 15 > Treasurer

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Agricultural commodities: means any agricultural commodity, non-processed food, feed, fiber, or livestock, including insects. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• Allegation: something that someone says happened.
• Amortization: Paying off a loan by regular installments.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appraised value: means the fair market value of a home determined in accordance with generally accepted procedures and standards applicable to the appraisal of real property. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Artificially made or reclaimed land: includes all land which formerly was submerged under the public waters of the State, the title to which is in the State, and which has been artificially made or reclaimed in whole or in part. See Illinois Compiled Statutes 65 ILCS 5/11-92-1
• Asset forfeiture: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Balanced budget: A budget in which receipts equal outlays.
• 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.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bonds: means any revenue bonds authorized under this Division and payable as provided hereunder. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
• Chambers: A judge's office.
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Circuit clerk: means clerk of the circuit court. See Illinois Compiled Statutes 5 ILCS 70/1.26
• Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
• Commercial motor vehicle: means any self propelled or towed vehicle used on public highways in interstate and intrastate commerce to transport passengers or property when the vehicle has a gross vehicle weight, a gross vehicle weight rating, a gross combination weight, or a gross combination weight rating of 10,001 or more pounds; or the vehicle is used or designed to transport more than 15 passengers, including the driver; or the vehicle is designed to carry 15 or fewer passengers and is operated by a contract carrier transporting employees in the course of their employment on a highway of this State; or the vehicle is used or designed to transport between 9 and 15 passengers, including the driver, for direct compensation; or the vehicle is used in the transportation of hazardous materials in a quantity requiring placarding under the Illinois Hazardous Materials Transportation Act. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• 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}
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Conference committee: A temporary, ad hoc panel composed of conferees from both chamber of a legislature which is formed for the purpose of reconciling differences in legislation that has passed both chambers. Conference committees are usually convened to resolve bicameral differences on major and controversial legislation.
• Continuance: Putting off of a hearing ot trial until a later time.
• Corporate authorities: means the corporate authorities as defined in this Illinois Municipal Code. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) ^{Source: OCC}
• Decedent: A deceased person.
• deception: means knowingly to:
       (a) Create or confirm another's impression which is false and which the offender does not believe to be true; or
       (b) Fail to correct a false impression which the offender previously has created or confirmed; or
       (c) Prevent another from acquiring information pertinent to the disposition of the property involved; or
       (d) Sell or otherwise transfer or encumber property, failing to disclose a lien, adverse claim, or other legal impediment to the enjoyment of the property, whether such impediment is or is not valid, or is or is not a matter of official record; or
       (e) Promise performance which the offender does not intend to perform or knows will not be performed. See Illinois Compiled Statutes 720 ILCS 5/15-4
• 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.
• Defense attorney: Represent defendants in criminal matters.
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• Direct compensation: means payment made to the motor carrier by the passengers or a person acting on behalf of the passengers for the transportation services provided, and not included in a total package charge or other assessment for highway transportation services. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Dispatcher: means any person who, as an employee or agent of a commercial vehicle relocator, dispatches vehicles to or from locations from which operators perform removal activities; and
       (7) "Dispatcher's employment permit" means a license issued to a dispatcher in accordance with Sections 18a-407 or 18a-408 of this Chapter. See Illinois Compiled Statutes 625 ILCS 5/18a-100
• Donor: The person who makes a gift.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Executor: A male person named in a will to carry out the decedent
• 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.
• Farm supplies for agricultural purposes: means products directly related to the growing or harvesting of agricultural commodities and livestock feed at any time of the year. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• 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}
• Fiduciary: A trustee, executor, or administrator.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• 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
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• 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.
• Harbor: as used in this Division 92, includes harbors, marinas, slips, docks, piers, breakwaters, and all buildings, structures, facilities, connections, equipment, parking areas, and all other improvements for use in connection therewith. See Illinois Compiled Statutes 65 ILCS 5/11-92-1
• 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.
• Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
• Home: means real property and improvements thereon located within the municipality consisting of not more than 4 dwelling units, including but not limited to, condominium units owned by one mortgagor who occupies or intends to occupy one of such units. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Home mortgage loan: means an interest bearing loan to a mortgagor evidenced by a promissory note and secured by a mortgage on a home, purchased or originated in accordance with this Division made for the purpose of acquiring a home having an appraised value or a purchase price, whichever is less, of not less than the minimum home value and less than the maximum home value. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Legacy: A gift of property made by will.
• Lender: means any lending institution participating in a residential housing finance plan as the originator of home mortgage loans or as a servicing agent for home mortgage loans. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Lending institution: means any bank, bank holding company, credit union, trust company, savings bank, national banking association, savings and loan association, building and loan association, mortgage banker or other financial institution which customarily provides service or otherwise aids in the financing of home mortgages, or any holding company for any of the foregoing. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Livestock: means cattle, sheep, goats, swine, poultry (including egg-producing poultry), fish used for food, and other animals designated by the Secretary of the United States Department of Transportation (at his or her sole discretion) that are part of a foundation herd (including producing dairy cattle) or offspring. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• Majority leader: see Floor Leaders
• Maximum home value: means the amount determined by the corporate authorities. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Minimum home value: means the amount determined by the corporate authorities. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Minority leader: See Floor Leaders
• Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Mortgagor: means a person of low or moderate income and who has received or qualifies to receive a home mortgage loan on a home. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Municipality: means a municipality as defined in this Illinois Municipal Code. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Oath: A promise to tell the truth.
• oath: shall be deemed to include an affirmation, and the word "sworn" shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
• obtain: means :
       (a) In relation to property, to bring about a transfer of interest or possession, whether to the offender or to another, and
       (b) In relation to labor or services, to secure the performance thereof. See Illinois Compiled Statutes 720 ILCS 5/15-7
• Officer: means Illinois State Police Officer. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• Ordinance: means an ordinance adopted and approved by the corporate authorities of a municipality. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Oversight: Committee review of the activities of a Federal agency or program.
• owner: means a person, other than the offender, who has possession of or any other interest in the property involved, even though such interest or possession is unlawful, and without whose consent the offender has no authority to exert control over the property. See Illinois Compiled Statutes 720 ILCS 5/15-2
• Participation commitment: means any undertaking or agreement by a lending institution to participate in the implementation of a residential housing finance plan. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Person: means any natural person or individual, governmental body, firm, association, partnership, copartnership, joint venture, company, corporation, joint stock company, trust, estate or any other legal entity or their legal representative, agent or assigns. See Illinois Compiled Statutes 625 ILCS 5/18b-101
• Person: means a natural person or persons or a trust, provided that such trust is for the benefit of a natural person or members of such person's immediate family. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Persons of low or moderate income: means a person or family (consisting of one or more persons all of whom occupy or will occupy the home) whose aggregate gross income including the gross income of any co-signer or guarantor of the promissory note made in connection with the making of a home mortgage loan does not exceed a maximum amount to be established by the corporate authorities and determined in accordance with appropriate criteria, rules and regulations, approved by the corporate authorities in connection with the implementation of a residential housing finance plan. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. ^Source:
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• police force: shall be construed to include such persons in the employ of a municipality as members of the department of police, who are or shall hereafter be appointed and sworn as policemen. See Illinois Compiled Statutes 5 ILCS 70/1.20
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Presentence report: A report prepared by a court's probation officer, after a person has been convicted of an offense, summarizing for the court the background information needed to determine the appropriate sentence. ^{Source: U.S. Courts}
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• property: means anything of value. See Illinois Compiled Statutes 720 ILCS 5/15-1
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Purchase price: means the actual consideration paid to the seller of a home. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recess: A temporary interruption of the legislative business.
• Redlining: The alleged practice of certain lending institutions of not making mortgage, home improvement, and small business loans in certain neighborhoods-usually areas that are deteriorating or considered by the lender to be poor investments. ^{Source: OCC}
• relocator: means any person or entity engaged in the business of removing trespassing vehicles from private property by means of towing or otherwise, and thereafter relocating and storing such vehicles;
       (2) "Commission" means the Illinois Commerce Commission;
       (3) "Operator" means any person who, as an employee of a commercial vehicle relocator, removes trespassing vehicles from private property by means of towing or otherwise. See Illinois Compiled Statutes 625 ILCS 5/18a-100
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Residential housing finance plan: means a program implemented under this Division by a municipality to assist persons of low or moderate income in acquiring safe, decent and sanitary housing which they can afford. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Service of process: The service of writs or summonses to the appropriate party.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Summons: Another word for subpoena used by the criminal justice system.
• Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means any State or national bank or trust company, having trust powers, located within or outside the State of Illinois, which may be appointed to act in any capacity with respect to a residential housing finance plan and the issuance of bonds to finance such plan whether designated as a trustee, custodian or administrator. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.