(205 ILCS 625/2)
(from Ch. 17, par. 2132)
As used in this Act, the following words have
the meanings ascribed to them as set forth herein:
(a) "Institution" includes any bank as defined in Section 2 of the Illinois
Banking Act, any
as defined in Section 1-10.03 of the Illinois Savings and Loan Act,
any insured savings bank as defined in Section 1007.75 of the
Savings Bank Act,
or any credit union as defined in
Section 1.1 of the Illinois Credit Union Act, and similar federal institutions.
(b) "Account" includes any account, deposit, certificate of deposit,
withdrawable capital account or credit union share in any institution.
(c) "Beneficiary" includes a natural person who is living, a trust, a corporation, a charitable organization, or any other entity that maintains a lawful existence under the state or federal authority pursuant to which it was organized.
(Source: P.A. 96-1151, eff. 7-21-10.)