(205 ILCS 605/1)
(from Ch. 17, par. 501)
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 established and maintained by
a natural person with a financial institution and operated primarily for
personal, family, or household purposes.
"Financial institution" means any bank subject to the Illinois Banking
Act, including a branch of an out-of-state bank as defined in Section 2 of
the Illinois Banking Act, any savings bank subject to the Savings Bank Act,
any savings and
loan association subject to the Illinois Savings and Loan Act of 1985, and
any federally chartered commercial bank, savings bank, or savings and loan
association organized and operated in this State under the laws
of the United States.
"Check" means a writing that complies with the requirements of Section
3-104 of the Uniform Commercial Code.
(Source: P.A. 89-208, eff. 9-29-95.)