Illinois Statutes Chapter 20. Executive Branch § 1205/4. Definitions

§ 4. Definitions. As used in this Act:

“Address of record” means the designated address recorded by the Division in the applicant's application file or the licensee's license file, as maintained by the Division.

“Department” means the Department of Financial and Professional Regulation.

“Director” means the Director or acting Director of the Division of Financial Institutions and any authorized representative of the Director.

“Division” means the Division of Financial Institutions of the Department.

“Financial institutions” means ambulatory and community currency exchanges, credit unions, guaranteed credit unions, money transmitters, title insuring or guaranteeing companies and their agents, consumer installment lenders, payday lenders, sales finance agencies, consumer legal funding companies, collection agencies, and any other person who offers services or products that are regulated under any Act administered by the Director.

“License” means any certificate or authorization issued to any person, party, or entity pursuant to any Act administered by the Division.

“Licensee” means any person, party, or entity who is or comes to be certified, chartered, registered, licensed, or otherwise authorized by the Division pursuant to any Act administered by the Division.

“Payday loan” has the meaning ascribed to that term in the Payday Loan Reform Act.

“Person” means any individual, partnership, joint venture, trust, estate, firm, corporation, cooperative society or association, or any other form of business association or legal entity.

“Regulated person” means a person whose activities are subject to an Act or rule that is administered by the Division. “Regulated person” includes licensees as well as persons who are lawfully or unlawfully unlicensed. “Regulated person” also includes managers and owners of the licensee.

“Secretary” means the Secretary or acting Secretary of Financial and Professional Regulation and any authorized representative of the Secretary.