Section 190.700  Definitions

For purposes of this Subpart:

“Act” means the Illinois Credit Union Act [205 ILCS 305].

“Compelling need” means that no other non-confidential source is available to obtain information of equal relevance.

“Complete request” means a request that provides all of the information required in Section 190.710.

“Confidential supervisory information” shall have the same meaning ascribed to that term in Section 9.1 of the Act.

“Credit union” means a credit union chartered under the Illinois Credit Union Act, or, as the context permits, under the Federal Credit Union Act (12 U.S.C. 1751-1795k) or the laws of any state.

“Department" means the Illinois Department of Financial and Professional Regulation.

“Director” means the Director or Acting Director of the Division of Financial Institutions or their authorized representatives.

“Secretary” means the Secretary of the Department of Financial and Professional Regulation or a person authorized by the Secretary, the Act, or this Part to act in the Secretary’s stead.  As provided in Section 8(1) of the Act, all references in the Act or this Part to the Secretary shall be deemed to include the Director, as a person authorized by the Secretary or the Act to assume responsibility for the oversight of the functions of the Department relating to the regulatory supervision of credit unions under the Act and this Part.

“Person” or “persons” means individuals and bodies politic and corporate, including without limitation corporations, limited liability companies, general partnerships, limited partnerships and joint ventures; unless, from the context and facts, the intentions plainly apply only to individuals.  Persons who reside in or live in a geographical area include non-natural persons located within the geographical area.

“Relevant” means the requested confidential supervisory information could substantially contribute to the resolution of the issues identified in the pleadings contained within the request.

“Requester” means any person who makes a request for the discovery or disclosure of confidential supervisory information, whether by subpoena, order, or other judicial or administrative process.

(Source:  Added at 46 Ill. Reg. 18508, effective November 1, 2022)