Sec. 2. Definitions.
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/il/chapter-205/act-650/2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 2. Definitions. As used in this Act, unless the context requires otherwise:
(a)"Commissioner" means the Secretary of Financial and Professional Regulation or a person authorized by the Secretary, the Division of Banking Act, or this Act to act in the Secretary's stead.
(b)"Foreign bank" means
(1)a bank, savings bank, savings association, or trust company which is organized under the laws of any state or territory of the United States, including the District of Columbia, other than the State of Illinois;
(2)a national bank having its principal place of business in any state or territory of the United States, including the District of Columbia, other than the State of Illinois; or
(3)a bank or trust company organized and operating under the laws of a country other than the United States of America.
(c)"Representative office" means an office in the State of Illinois at which a foreign bank engages in representational functions but does not conduct a commercial banking business.
(d)"Division" means the Division of Banking within the Department of Financial and Professional Regulation.