Illinois § 2A-3
Full text of Illinois Illinois Compiled Statutes § 2A-3, with citation guidance and answers to common questions.
§ 2A-3.
Sec. 2A-3. Certificate of authority. (a) It shall be lawful for any person to engage in the activity of a special purpose trust company after the effective date of this amendatory Act of the 104th General Assembly upon filing an application for and procuring from the Secretary a certificate of authority stating that the person has complied with the requirements of this Act and is qualified to engage in the activity of a special purpose trust company. (b) No natural person or natural persons, firm, partnership, or corporation not having been authorized under this Act shall transact in the activity of a special purpose trust company. A person who violates this Section is guilty of a Class A misdemeanor and the Attorney General or State's Attorney of the county in which the violation occurs may restrain the violation by a complaint for injunctive relief. (c) Any entity that holds a certificate of authority under Article II of this Act may engage in the activity of a special purpose trust company without applying for or receiving a certificate of authority under this Article IIA. (d) Nothing in this Section shall limit the authority of a depository institution to provide nonfiduciary custodial services consistent with its charter in accordance with applicable law and subject to any limitations and restrictions imposed by its chartering authority. (Source: P.A. 104-428, eff. 8-18-25.)
Frequently Asked Questions About Illinois § 2A-3
What does Illinois Compiled Statutes § 2A-3 cover?
Section 2A-3 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 § 2A-3?
A common citation format is "Illinois Compiled Statutes § 2A-3" (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 § 2A-3 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.