Sec. 9.2. Definitions

For purposes of this Part:

(a) The term banking institution shall mean any bank, trust company, savings bank, savings and loan association, or credit union, or branch of a foreign banking corporation the deposits of which are insured by the Federal Deposit Insurance Corporation, which institution is incorporated, chartered, organized or licensed under the laws of this State or any other state or the United States, and which, in the ordinary course of its business, offers consumer transaction accounts to the general public or, in the case of a credit union, to its members.

(b) The term consumer transaction account shall mean a demand deposit account, negotiable order of withdrawal account, share draft account or similar account used primarily for personal, family or household purposes.

(c) The term periodic cycle shall mean the period covered by the banking institution's regular consumer transaction account statement, which shall be from 28 to 31 days.

(d) The term withdrawal transaction shall mean a withdrawal from a consumer transaction account by means of a withdrawal slip, check, negotiable order of withdrawal or draft or through the use of an electronic facility operated by the banking institution.