§330.10. Definitions

Latest version.

            "Act" means the Illinois Banking Act [205 ILCS 5].

"Department" means the Department of Financial and Professional Regulation.

"Director" means the Director of the Division of Banking with the authority delegated by the Secretary.

"Division" means the Department of Financial and Professional Regulation-Division of Banking with the authority delegated by the Secretary.

            "Loan or Extension of Credit" means any direct or indirect advance of funds that results in a liability of any person for money borrowed or otherwise. An indirect advance of funds shall include, but not be limited to, a purchase by a bank of a note or obligation from another person.

            "Person" shall have the meaning ascribed to it in Section 2 of the Act.

"Secretary" means the Secretary of the Department of Financial and Professional Regulation.

(Source: Amended at 37 Ill. Reg. 5807, effective April 22, 2013)

                    
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