Illinois § 2
Full text of Illinois Illinois Compiled Statutes § 2, with citation guidance and answers to common questions.
§ 2.
Definitions. 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 association 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.)
Frequently Asked Questions About Illinois § 2
What does Illinois Compiled Statutes § 2 cover?
Section 2 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 2?
A common citation format is "Illinois Compiled Statutes § 2" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.