Illinois Compiled Statutes 205 ILCS 205/1007.105 – “Service corporation” means any corporation or limited liability …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 205 ILCS 205/1007.105
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
“Service corporation” means any corporation or limited liability company that is 51% or more owned by one or more savings banks, or by savings banks and other depository institutions, whose purposes are reasonably incident to the accomplishment of the powers conferred upon savings banks by this Act.