Illinois Compiled Statutes 70 ILCS 1815/2.7 – “Person” means any individual, firm, partnership, corporation, both …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 70 ILCS 1815/2.7
- 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.
- 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Trustee: A person or institution holding and administering property in trust.
“Person” means any individual, firm, partnership, corporation, both domestic and foreign, company, association or joint stock association; and includes any trustee, receiver, assignee or personal representative thereof.