|Public Act 102-1027|
|SB3847 Enrolled||LRB102 24371 RJF 33605 b|
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Community Development Loan Guarantee Act is
amended by changing Sections 30-10, 30-15, 30-25, and 30-30 as
(15 ILCS 516/30-10)
As used in this Act:
"Financial institution" means a bank, a savings and loan
association, a savings bank, a credit union, a minority
depository institution as designated by the Federal Deposit
Insurance Corporation, or a community development financial
institution certified by the United States Treasury Community
Development Financial Institutions Fund, which is operating in
the State of Illinois.
"Loan Guarantee Account" means an account at a financial
institution outside the State Treasury of which the State
Treasurer is custodian with the purpose of guaranteeing loans
made by a
financial institution in accordance
with this Act.
(Source: P.A. 101-657, eff. 3-23-21.)
(15 ILCS 516/30-15)