15 ILCS 516/30-10

Current through Public Act 103-593
Section 15 ILCS 516/30-10 - Definitions

As used in this Act:

"Financial institution" means a bank, a savings and loan association, a savings bank, a credit union, a minority depository institution as designated by the Federal Deposit Insurance Corporation, or a community development financial institution certified by the United States Treasury Community Development Financial Institutions Fund, which is operating in the State of Illinois.

"Loan Guarantee Account" means an account at a financial institution outside the State Treasury of which the State Treasurer is custodian with the purpose of guaranteeing loans made by a participating financial institution in accordance with this Act.

15 ILCS 516/30-10

Amended by P.A. 102-1027,§ 5, eff. 5/27/2022.
Added by P.A. 101-0657,§ 30-10, eff. 3/23/2021.