§397.20. Definitions

            "A" means the total number of corporate fiduciaries.

 

            "Account" means the Corporate Fiduciary Receivership Account.

 

            "Act" means the Corporate Fiduciary Act [205 ILCS 620].

 

            "B" means the number of examiner days expended in the most recent examination of the Illinois Trust Company that was completed prior to the end of the calendar quarter preceding the quarter for which the fee is being assessed.

 

            "Balance" means the amount in the account, adjusted for any accounts receivable and any accounts payable, as of the last day of the calendar quarter preceding the quarter for which a fee may be assessed.

 

            "C" means the total number of examiner days expended in the most recent examinations of all Illinois Trust Companies, calculated as of the last day of the calendar quarter preceding the quarter for which the fee is being assessed.

 

            "Corporate Fiduciary" means any trust company, trust department, or other entity that holds a certificate of authority issued under Article II of the Act authorizing the exercise of trust powers in Illinois.

 

            "D" means the amount necessary to raise the balance in the Account to the maximum amount established by Section 5-10 of the Act.

 

            "Illinois Trust Company" means a non-depository corporation, limited liability company, or other entity organized in this State that has been given a certificate of authority to accept and execute trusts by the Commissioner of Banks and Real Estate pursuant to Article II of the Act.

 

(Source:  Amended at 26 Ill. Reg. 1677, effective January 23, 2002)