Illinois Administrative Code
Title 14 - COMMERCE
Part 150 - BUSINESS CORPORATION ACT
Subpart D - NAMES
Section 150.470 - Restricted and Professional Words
Current through Register Vol. 48, No. 12, March 22, 2024
a) Words which are subject to restrictions on their use in a corporate name include, but are not limited to, the following and any variation thereof: Trust, Pawners, Cooperative, Housing, Engineering, Insurance, Bank, Bankers, Banking, Union, Surety, Underwriters, Assurance, Reinsurance, Indemnity, Casualty, Guaranty, Gaurantee, Guarantor, Trustee and Fiduciary or any other prohibited term.
b) However, "Banks", "Banker", or "Banking" may be used in a corporate name if, at the time of filing of the articles of incorporation, application for certificate of authority by a foreign corporation, or an amendment to either of these documents to change the corporate name, the corporation or incorporators give the Department a letter signed by the Commissioner of Banks and Trusts of Illinois granting permission to use these words, pursuant to the standards set forth in the Illinois Banking Act, Section 46 [205 ILCS 5/46 ].
c) The Department will prohibit the incorporation of corporations which seek to use names or have purposes which violate Sections 3.05 and 4.05(a)(2) of the Act. This prohibition does not apply to names or purposes specifically authorized by these rules.