Illinois Statutes Chapter 205. Financial Regulation § 625/2. Definitions

(a) “Institution” includes any bank as defined in Section 2 of the Illinois Banking Act,  1 any association as defined in Section 1-10.03 of the Illinois Savings and Loan Act,  2 any insured savings bank as defined in Section 1007.75 of the Savings Bank Act,  3 or any credit union as defined in Section 1.1 of the Illinois Credit Union Act,  4 and similar federal institutions.

(b) “Account” includes any account, deposit, certificate of deposit, withdrawable capital account or credit union share in any institution.

(c) “Beneficiary” includes a natural person who is living, a trust, a corporation, a charitable organization, or any other entity that maintains a lawful existence under the state or federal authority pursuant to which it was organized.