TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 330 LENDING LIMITS
SECTION 330.10 DEFINITIONS


 

Section 330.10  Definitions

 

            "Act" means the Illinois Banking Act [205 ILCS 5]

 

            "loan or extension of credit" means any direct or indirect advance of funds which results in a liability of any person for money borrowed or otherwise.  An indirect advance of funds shall include, but not be limited to, a purchase by a bank of a note or obligation from another person.

 

            "person" shall have the meaning ascribed to it in Section 2 of the Illinois Banking Act [205 ILCS 5/2].