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(205 ILCS 610/1)
(from Ch. 17, par. 1001)
As used in this Act, unless the context
(1) "Commissioner" means the officer of this State designated by law to
exercise supervision over banks and trust companies, and any other person
lawfully exercising such powers, except that beginning on the effective date of this amendatory Act of the 96th General Assembly, all references in this Act to the Commissioner of Banks and Real Estate are deemed, in appropriate contexts, to be references to the Secretary of Financial and Professional Regulation.
(2) "Bank" includes commercial banks, savings banks, savings and loan associations, trust companies, and any branch
thereof lawfully carrying on the business of banking and, to the extent
that the provisions hereof are not inconsistent with and do not infringe
upon paramount Federal law, also includes national banks and federal savings banks.
(3) "Officers" means the person or persons designated by the board of
directors, to act for the bank in carrying out the provisions of this Act
or, in the absence of any such designation or of the officer or officers so
designated, the president or any other officer currently in charge of the
bank or of the office or offices in question.
(4) "Office" means any place at which a bank transacts its business or
conducts operations related to its business.
(5) "Emergency" means any condition or occurrence which may interfere
physically with the conduct of normal business operations at one or more or
all of the offices of a bank, or which poses an imminent or existing threat
to the safety or security of persons or property, or both at one or more or
all of the offices of a bank. Without limiting the generality of the
foregoing, an emergency may arise as a result of any one or more of the
following: natural disasters; civil strife; power failures; computer failures;
interruption of communication facilities; robbery or attempted robbery.
(6) "Division" means the Division of Banking within the Department of Financial and Professional Regulation.
(Source: P.A. 96-1365, eff. 7-28-10.)