Section 1000.1520  Definitions

            "Act" – Illinois Savings and Loan Act of 1985 [205 ILCS 105/1-1].

"Applicant" – Association or holding company or person whose application pending before the Director is subject matter of the hearing.

            "Association" – Every savings and loan association organized under and governed pursuant to the Illinois Savings and Loan Act of 1985; a State-chartered savings and loan association.

            "Director" – Director of the Illinois Department of Financial and Professional Regulation-Division of Banking.

            "Company" – Any corporation, partnership, trust, joint-stock company, or similar organization, but does not include the Federal Savings and Loan Insurance Corporation, any Federal home loan bank, or any company the majority of the shares of which is owned by the United States or any State, or by an officer of the United States or any State in his official capacity, or by an instrumentality of the United States or any State.

            "Hearing Officer" – The presiding officials designated by the Director to conduct a hearing or anyone designated by the Director to hear evidence; means any member of the panel the Director appoints to conduct the hearing.

            "Holding Company" – Any company as defined in Section 1A-1 of the Act.

            "Institution" – A savings and loan association, a savings bank, a Federal savings and loan association, a Federal savings bank, a building and loan, homestead association or a cooperative bank, the accounts of which are insured by the Federal Savings and Loan Insurance Corporation, and shall include a Federal savings bank, the deposits of which are insured by the Federal Deposit Insurance Corporation, and a savings bank or any other thrift depository institution by whatever name called.

            "Mutual" or "Mutually Owned" – is a holding company institution in which ownership is evidenced by membership, as opposed to capital stock, typically determined by the maintenance of a depository relationship with at least one subsidiary depository institution.

            "Mutual Thrift Holding Company" – is a holding company which owns one or more savings and loan association, savings bank, building and loan association, homestead, or other institution as defined at Section 1000.1520, which is owned mutually.

            "Notice" – Notice prescribed by the Act or this Part, as applicable.

            "Objector" – Entity or person who is on record as objecting to the application pending before the Director which is the subject matter of the hearing.

            "Party" – Entity or person named in pleading or affected by judgment.

(Source:  Amended at 30 Ill. Reg. 18990, effective December 1, 2006)