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Illinois Statutes Chapter 205. Financial Regulation § 715/5. Definitions

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§ 5. Definitions. As used in this Act, the following terms shall have the following meanings:

“Corporate fiduciary” has the meaning ascribed to that term in the Corporate Fiduciary Act. 1

Financial institution” means a bank, savings bank, or credit union chartered under the laws of Illinois or of the United States or a subsidiary thereof, or a corporate fiduciary that has its main office in Illinois and includes foreign banking corporations that receive certificates of authority from the Department of Financial and Professional Regulation under the Foreign Banking Office Act. 2

Independent data processing servicer” means an entity that provides electronic data processing services to a financial institution, but does not include an entity to the extent the entity processes interchange transactions, as defined in the Electronic Fund Transfer Act. 3

Interface agreement” means a written agreement specifying the terms and conditions under which an interface of communications, data, or systems between independent data processing servicers shall be accomplished.

Main office” means the location designated as the main office or principal place of business in the charter, articles of incorporation, or certificate of authority of the depository institution or corporate fiduciary.

1 205 ILCS 620/1-1 et seq.
2 205 ILCS 645/1 et seq.
3 205 ILCS 616/1 et seq.

Cite this article: - Illinois Statutes Chapter 205. Financial Regulation § 715/5. Definitions - last updated January 01, 2022 |

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