(815 ILCS 150/2) (from Ch. 17, par. 6202)
Sec. 2.
As used in this Act, the following words have the meaning ascribed
to them in this Section:
"Financial institution" means any bank, insurance company, credit union,
savings and loan association, investment trust or other depository of money
or medium of savings or collective investment.
"Credit card" means any instrument or device, whether known as a credit
card, credit plate, charge plate or any other name, issued with or without
fee by an issuer for the use of the cardholder in obtaining money, goods,
services or anything else of value on credit or in consideration of
an undertaking or guaranty by the issuer of the payment of a check drawn
by the cardholder. Automated cards, issued by financial institutions
to and for the use of only the customers of such financial institutions,
to be used in conjunction with or without computer facilities to allow such
customers to make deposits and withdrawals to or from checking or savings
accounts, cash checks, pay loan installments and utility bills or
transfer funds between various accounts shall not be considered credit cards
for the purposes of this Act provided they do not permit cash loan advances
or by agreement permit overdraft checking services.
(Source: P.A. 81-1509.)
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