(760 ILCS 45/2) (from Ch. 17, par. 2102)
Sec. 2.
Definitions.) As used in this Act, unless the context otherwise requires:
(a) "Bank or trust company" means any state bank, any national bank,
any trust company or any other corporation, qualified to act as a
fiduciary in this State.
(b) "Affiliate" means any state bank, any national bank, any trust company
or any other corporation, which is qualified to act as a fiduciary in this or any other
State, and which is a member of the same affiliated group (within the meaning
of Section 1504 of the Internal Revenue Code of 1954, as amended) of which
the bank or trust company maintaining the particular common trust fund is a member.
(c) "Fiduciary" means a bank or trust company or an affiliate acting in
any of the following capacities, namely: testamentary trustee, trustee appointed
by any court, trustee or agent under any written agreement, declaration
or instrument of trust, executor, administrator, guardian,
or custodian under a uniform transfers to minors act.
(d) "Common trust fund" means a fund maintained by a bank or trust company
exclusively for the collective investment and reinvestment of moneys contributed
thereto by the bank or trust company or any affiliate thereof, in the capacity
of a fiduciary or co-fiduciary.
(e) "Custodian under a uniform transfers to minors act", means an account
which the Secretary of the Treasury of the United States has determined
is established pursuant to a State law which is substantially similar to
the "Illinois Uniform Transfers to Minors Act"
and with respect to which account the bank or trust company serving as custodian
has established to the satisfaction of the Secretary of the Treasury of
the United States that it has duties and responsibilities similar to duties
and responsibilities of a trustee or guardian.
(Source: P.A. 84-915.)
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