(205 ILCS 5/3)
(from Ch. 17, par. 309)
Formation and primary powers.
It shall be lawful to form banks,
as herein provided, for the purpose of discount and deposit, buying and
selling exchange and doing a general banking business, excepting the
issuing of bills to circulate as money; and such banks shall have the power
to loan money on personal and real estate security, and to accept and execute
trusts upon obtaining a certificate of authority pursuant to the "Corporate
Fiduciary Act", and shall be subject to all of the provisions of this Act. For purposes of this Section, "real estate" includes a manufactured home as defined in subdivision (53) of Section 9-102 of the Uniform Commercial Code that is real property as defined in Section 5-35 of the Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act.
(Source: P.A. 98-749, eff. 7-16-14.)