Illinois Compiled Statutes 205 Financial Regulation: Article I - General Provisions

• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-1
  Short Title. This Act shall be known and may be cited as the "Corporate Fiduciary Act". (Source: P.A. 85-858.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-2
  Policy of Act. The General Assembly finds that corporate fiduciaries perform a vital service in the administration of trusts, guardianship, receiverships, estates and other...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-3
  Scope of Act; application to national banks, federally chartered savings and loan associations or federally chartered savings banks. After January 1, 1988, no national...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-4
  Effect on existing corporate fiduciaries. With respect to any existing corporate fiduciary: (a) any existing certificate of authority shall continue in full force and...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5
  Definitions. The words and phrases defined in Sections following this Section and preceding Section 1-6 have the meanings ascribed to them in those Sections,...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.01
  "Bank" shall have the same meaning ascribed to the term in Section 2 of the Illinois Banking Act. (Source: P.A. 85-858.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.02
  "Capital" shall have the meaning ascribed to the term "capital" or "paid-in capital" in the particular Act under which the corporate fiduciary was organized...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.03
  "Commissioner" means the Secretary of Financial and Professional Regulation or a person authorized by the Secretary, the Division of Banking Act, or this Act to...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.04
  (Repealed). (Source: P.A. 85-858. Repealed by P.A. 97-492, eff. 1-1-12.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.05
  Corporate fiduciary. "Corporate fiduciary" means a trust company; the trust department of a bank, savings bank, savings and loan association, or foreign banking corporation...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.06
  "Court" means a court of competent jurisdiction. (Source: P.A. 85-858.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.07
  "Depository institution" includes banks, savings and loan associations, savings banks, and credit unions. (Source: P.A. 91-97, eff. 7-9-99.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.07a
  Division of Banking. "Division of Banking" means the Division of Banking of the Department of Financial and Professional Regulation. (Source: P.A. 96-1163, eff. 1-1-11.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.07b
  Division. "Division" means the Division of Banking within the Department of Financial and Professional Regulation. (Source: P.A. 96-1365, eff. 7-28-10; 97-333, eff. 8-12-11.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.075
  (Renumbered). (Source: P.A. 96-1365, eff. 7-28-10. Renumbered by P.A. 97-333, eff. 8-12-11.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.08
  "Foreign corporation" means: (a) any bank, savings and loan association, savings bank, or other corporation now or hereafter organized under the laws of any...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.09
  "Person" means an individual, corporation, partnership, joint venture, trust estate, limited liability company, or unincorporated association. (Source: P.A. 90-424, eff. 1-1-98.)
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.09a
  Secretary. "Secretary" means the Secretary of Financial and Professional Regulation, or a person authorized by the Secretary or by this Act to act in the...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.10
  "Surplus" means the aggregate of (i) amounts paid in excess of the par value of capital stock and preferred stock; (ii) amounts contributed other...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.11
  Trust company. "Trust company" means a corporation incorporated or a limited liability company organized in this State that holds a certificate of authority issued...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.12
  Fiduciary. "Fiduciary" means trustee, executor, administrator, receiver, guardian, assignee for the benefit of creditors, or any holder of a similar position of trust. (Source:...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.13
  Trust business. "Trust business" means the holding out by a person to the public by advertising, solicitation, or other means that the person is...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-5.14
  Compliance period. A person who becomes a fiduciary or who becomes engaged in the trust business and thereby is required to obtain a certificate...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-6
  General Corporate Powers. A corporate fiduciary shall have the powers: (a) if it is a State bank, those powers granted under Sections 3 and...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-6a
  Non-English language transactions. A corporate fiduciary may conduct transactions in a language other than English through an employee or agent acting as interpreter or...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-7
  Office locations corporate fiduciaries. (a) Any corporate fiduciary may establish branch offices at any location. Any corporate fiduciary that seeks to establish a branch...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-8
  Change of name or location. A corporate fiduciary holding a certificate of authority issued pursuant to this Act must notify and receive written approval...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 1-9
  Name indicating fiduciary capacity; limitation. No corporation that is not a corporate fiduciary as defined in Section 1-5.05 of this Act or a foreign...

Last modified: February 18, 2015