§396.10. Definitions

Latest version.

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

"Corporate fiduciary" shall have the meaning ascribed to it in Section 1-5.05 of the Corporate Fiduciary Act [205 ILCS 620].

"Corporate fiduciary subsidiary" means a subsidiary of a corporation organized for the purposes of accepting and executing trusts which has received a Certificate of Authority from the Commissioner to accept and execute trusts, but shall not include a state bank, a state savings and loan association, a state savings bank or any subsidiary thereof.

(Source: Amended at 44 Ill. Reg. 6272, effective April 24, 2020)

                    
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