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Code · Illinois · Chapter 15 — EXECUTIVE OFFICERS · Act 516

Sec. 30-10. Definitions.

99 words·~1 min read·/il/chapter-15/act-516/30-10

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Sec. 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.
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