Illinois General Assembly - Illinois Compiled Statutes

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20 ILCS 3501/805-10

(20 ILCS 3501/805-10)

Sec. 805-10.

Definitions.

The following terms, whenever used or referred
to in this Article, shall have the following meanings ascribed to them, except
where the context clearly requires otherwise:

(a) "Financial Institution" means a financial institution which is a trust
company, a bank, a savings bank, a credit union, an investment bank, a broker,
an investment trust, a pension fund, a building and loan association, a savings
and loan association, an insurance company, or any other institution acceptable
to the Authority, authorized to do business in the State and approved by the
Authority to insure bonds or loans for industrial projects authorized by this
Act.

(b) "Participating lender" means any trust company, bank, savings bank,
credit
union, investment bank, broker, investment trust, pension fund, building and
loan association, savings and loan association, insurance company or other
institution approved by the Authority which assumes a portion of the risk on a
loan for an industrial project as provided in
Section 805-30 of this Act.

(Source: P.A. 93-205, eff. 1-1-04.)