205 ILCS 715/1
Short title
Short title. This Act may be cited as the Data Processing Services for Financial Institutions Act. (Source: P.A. 91-742, eff. 6-2-00.)
Illinois Compiled Statutes 205 ILCS 715 — Data Processing Services for Financial Institutions Act.
Illinois · statute · 205 ILCS 715 · 6 active provisions
Provisions
205 ILCS 715/5
Definitions
Definitions. As used in this Act, the following terms shall have the following meanings: "Corporate fiduciary" has the meaning ascribed to that term in the Corporate Fiduciary Act. "Financial institution" means a bank, savings bank, or credit union chartered under the laws of Illinois or of the United States or a subsi…
205 ILCS 715/10
Interface between independent data processing servicers
Interface between independent data processing servicers. (a) Whenever a financial institution contracts with an independent data processing servicer for any product or service that requires an interface of communications, data, or systems with a second independent data processing servicer with which the financial insti…
205 ILCS 715/15
Arbitration of disputes
Arbitration of disputes. In the case of a dispute between the independent data processing servicers regarding any terms or conditions of an interface agreement, or in the event that a dispute regarding proposed terms and conditions results in the failure of the independent data processing servicers to enter into an int…
205 ILCS 715/17
Ownership of financial institution data
Ownership of financial institution data. If a financial institution transfers or otherwise makes available to an independent data processing servicer any data from the financial institution's records, such data shall at all times remain the property of the financial institution. The independent data processing servicer…
205 ILCS 715/99
Effective date
Effective date. This Act takes effect upon becoming law. (Source: P.A. 91-742, eff. 6-2-00.)