Chapter 205, FINANCIAL REGULATION

(205 ILCS 700/1) Sec. 1. Short title. This Act may be cited as the Adverse Claims to Deposit Accounts Act. (Source: P.A. 89-601, eff. 8-2-96.)

(205 ILCS 715/1) Sec. 1. Short title. This Act may be cited as the Data Processing Services for Financial Institutions Act. (Source: P.A. 91-742, eff. 6-2-00.)

(205 ILCS 625/1) (from Ch. 17, par. 2131) Sec. 1. This Act may be cited as the "Illinois Trust and Payable on Death Accounts Act". (Source: P.A. 84-461.)

(205 ILCS 616/1) Sec. 1. This Act may be cited as the Electronic Fund Transfer Act. (Source: P.A. 89-310, eff. 1-1-96.)

(205 ILCS 610/1) (from Ch. 17, par. 1001) Sec. 1. Definitions. As used in this Act, unless the context otherwise requires: (1) "Commissioner" means the officer of this State designated by law to exercise supervision over banks and trust companies, and any other person lawfully ex…

(205 ILCS 10/1) (from Ch. 17, par. 2501) Sec. 1. It is held to be in the public interest that competition prevail in the banking system, and that banking services be expanded, and to those ends that bank holding companies be permitted to operate within this State, but that the in…

(205 ILCS 730/1) Sec. 1. Short title. This Act may be cited as the Blockchain Technology Act. (Source: P.A. 101-514, eff. 1-1-20.)

(205 ILCS 732/1) Sec. 1. Short title. This Act may be cited as the Digital Asset Kiosks Act. (Source: P.A. 104-429, eff. 8-18-25.)

(205 ILCS 645/1) (from Ch. 17, par. 2701) Sec. 1. This Act may be cited as the "Foreign Banking Office Act". (Source: P.A. 78-346.)

(205 ILCS 695/1) Sec. 1. Short title. This Act may be cited as the Automated Teller Machine Security Act. (Source: P.A. 89-542, eff. 7-19-96.)

(205 ILCS 605/1) (from Ch. 17, par. 501) Sec. 1. Definitions. For the purposes of this Act: "Consumer-deposit account" means a demand or other similar deposit account, such as a checking, negotiable order of withdrawal, money market, savings deposit, share, or member account esta…

(205 ILCS 115/1) (from Ch. 17, par. 3601) Sec. 1. Any savings and loan or Federal savings and loan association may issue shares, share accounts or accounts to individuals, irrespective of age or marital status, each in their own right. Any payment or delivery of rights to any ind…

(205 ILCS 665/1) (from Ch. 17, par. 5301) Sec. 1. Declaration of policy. The business of providing debt management services to individuals is a matter of public interest and concern and is subject to regulation and control in the public interest. (Source: P.A. 90-545, eff. 1-1-98…

(205 ILCS 405/1) (from Ch. 17, par. 4802) Sec. 1. Definitions; application of Act. (a) For the purposes of this Act: "Community currency exchange" means any person, firm, association, partnership, limited liability company, or corporation, except an ambulatory currency exchange a…

(205 ILCS 725/1) Sec. 1. Short title. This Act may be cited as the Blockchain Business Development Act. (Source: P.A. 101-259, eff. 6-1-20.)

(205 ILCS 305/1) (from Ch. 17, par. 4401) Sec. 1. This Act may be cited as the Illinois Credit Union Act. (Source: P.A. 86-1475.)

(205 ILCS 705/1) Sec. 1. Short title. This Act may be cited as the Financial Institutions Electronic Documents and Digital Signature Act. (Source: P.A. 94-458, eff. 8-4-05.)

(205 ILCS 670/1) (from Ch. 17, par. 5401) Sec. 1. License required to engage in business. No person, partnership, association, limited liability company, or corporation shall engage in the business of making loans of money and charge, contract for, or receive on any such loan a g…

(205 ILCS 635/1-1) (from Ch. 17, par. 2321-1) Sec. 1-1. This Act shall be known and may be cited as the "Residential Mortgage License Act of 1987". (Source: P.A. 85-735.)

(205 ILCS 620/1-1) (from Ch. 17, par. 1551-1) Sec. 1-1. Short Title. This Act shall be known and may be cited as the "Corporate Fiduciary Act". (Source: P.A. 85-858.)

(205 ILCS 658/1-1) Sec. 1-1. Short title. This Act may be cited as the Uniform Money Transmission Modernization Act. (Source: P.A. 103-991, eff. 8-9-24.)

(205 ILCS 511/1-1) Sec. 1-1. Short title. This Act may be cited as the Pawnbroker Regulation Act of 2023. (Source: P.A. 103-585, eff. 3-22-24.)

(205 ILCS 635/1-2) (from Ch. 17, par. 2321-2) Sec. 1-2. Purpose of Act and Policy Statement. (a) The origination, funding, purchasing and brokering of residential mortgage loans and the type of entities involved in residential mortgage lending have undergone significant changes i…

(205 ILCS 620/1-2) (from Ch. 17, par. 1551-2) Sec. 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 fiduciary capacities; that it is in the public inte…

(205 ILCS 658/1-2) Sec. 1-2. Purpose. (a) This Act is designed to replace existing State money transmission laws currently codified under the Transmitters of Money Act. It is the intent of the General Assembly that the provisions of this Act accomplish the following: (1) ensure s…

(205 ILCS 635/1-3) (from Ch. 17, par. 2321-3) Sec. 1-3. Necessity for license; scope of Act. (a) No person, partnership, association, corporation or other entity shall engage in the business of brokering, funding, originating, servicing or purchasing of residential mortgage loans…

(205 ILCS 620/1-3) (from Ch. 17, par. 1551-3) Sec. 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 bank chartered by the Comptroller of the Currency and ha…

(205 ILCS 620/1-4) (from Ch. 17, par. 1551-4) Sec. 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 effect except as provided in Section 1-3 of this Act; (b)…

(205 ILCS 635/1-4) Sec. 1-4. Definitions. The following words and phrases have the meanings given to them in this Section: (a) "Residential real property" or "residential real estate" shall mean any real property located in Illinois, upon which is constructed or intended to be co…

(205 ILCS 511/1-5) Sec. 1-5. Definitions. As used in this Act: "Applicant" means a person applying for a license pursuant to this Act. "Department" means the Department of Financial and Professional Regulation. "Licensee" means a person licensed pursuant to this Act. "Pawn" means…

(205 ILCS 620/1-5) (from Ch. 17, par. 1551-5) Sec. 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, except to the extent that any such word or phrase is specifically …

(205 ILCS 620/1-5.01) (from Ch. 17, par. 1551-5.01) Sec. 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.)

(205 ILCS 620/1-5.02) (from Ch. 17, par. 1551-5.02) Sec. 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 and received its charter or certificate of incorporation. …

(205 ILCS 620/1-5.03) (from Ch. 17, par. 1551-5.03) Sec. 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 act in the Secretary's stead, and, beginning on Januar…

(205 ILCS 620/1-5.05) (from Ch. 17, par. 1551-5.05) Sec. 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 issued a certificate of authority pursuant…

(205 ILCS 620/1-5.06) (from Ch. 17, par. 1551-5.06) Sec. 1-5.06. "Court" means a court of competent jurisdiction. (Source: P.A. 85-858.)

(205 ILCS 620/1-5.07) (from Ch. 17, par. 1551-5.07) Sec. 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.)

(205 ILCS 620/1-5.07a) Sec. 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.)

(205 ILCS 620/1-5.07b) Sec. 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.)

(205 ILCS 620/1-5.08) (from Ch. 17, par. 1551-5.08) Sec. 1-5.08. "Foreign corporation" means: (a) any bank, savings and loan association, savings bank, or other corporation, limited liability company, or other entity now or hereafter organized under the laws of any state or terri…

(205 ILCS 620/1-5.09) (from Ch. 17, par. 1551-5.09) Sec. 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.)

(205 ILCS 620/1-5.09a) Sec. 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 Secretary's stead. (Source: P.A. 96-1163, eff. 1-1-11.)

(205 ILCS 620/1-5.10) (from Ch. 17, par. 1551-5.10) Sec. 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 than for capital stock and preferred stock and allocated to the surpl…

(205 ILCS 620/1-5.11) (from Ch. 17, par. 1551-5.11) Sec. 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 pursuant to this Act. (Source: P.A. 89-364, eff. 8-…

(205 ILCS 620/1-5.12) Sec. 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: P.A. 89-364, eff. 8-18-95.)

(205 ILCS 620/1-5.13) Sec. 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 available to act as a fiduciary in this State, or the accepting or undertaking to perform the duties…

(205 ILCS 620/1-5.14) Sec. 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 of authority from the Commissioner either by the coming into force of this amendatory Act of 1995 or…

(205 ILCS 620/1-6) (from Ch. 17, par. 1551-6) Sec. 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 5 of the Illinois Banking Act; and (b) if it is a State savings and loan association…

(205 ILCS 620/1-6a) Sec. 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 through an interpreter provided by the customer. (Source: P.A. 92-578, eff. 6-26…

(205 ILCS 620/1-7) (from Ch. 17, par. 1551-7) Sec. 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 office shall, if it is a trust company, apply for an…