Illinois Compiled Statutes 205 ILCS 605/1 – Definitions
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For the purposes of this Act:
“Consumer-deposit account” means a demand or other similar deposit account, such as a checking, negotiable order of withdrawal, money market, savings deposit, share, or member account established and maintained by a natural person with a financial institution and operated primarily for personal, family, or household purposes.
“Financial institution” means any bank subject to the Illinois Banking Act, including a branch of an out-of-state bank as defined in § 2 of the Illinois Banking Act, any savings bank subject to the Savings Bank Act, any savings and loan association subject to the Illinois Savings and Loan Act of 1985, and any federally chartered commercial bank, savings bank, or savings and loan association organized and operated in this State under the laws of the United States.
“Check” means a writing that complies with the requirements of § 3-104 of the Uniform Commercial Code.
“Consumer-deposit account” means a demand or other similar deposit account, such as a checking, negotiable order of withdrawal, money market, savings deposit, share, or member account established and maintained by a natural person with a financial institution and operated primarily for personal, family, or household purposes.
Terms Used In Illinois Compiled Statutes 205 ILCS 605/1
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
“Financial institution” means any bank subject to the Illinois Banking Act, including a branch of an out-of-state bank as defined in § 2 of the Illinois Banking Act, any savings bank subject to the Savings Bank Act, any savings and loan association subject to the Illinois Savings and Loan Act of 1985, and any federally chartered commercial bank, savings bank, or savings and loan association organized and operated in this State under the laws of the United States.
“Check” means a writing that complies with the requirements of § 3-104 of the Uniform Commercial Code.