Illinois Compiled Statutes 815 Business Transactions: Article -

• Illinois Securities Law of 1953. - 815 ILCS 5, Section 1
  Short title. This Act may be cited as the Illinois Securities Law of 1953. (Source: P.A. 86-1475.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2
  Definitions. As used in this Act, unless the context otherwise requires, the terms defined in the Sections of this Act that precede Section 3...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.1
  Security. "Security" means any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.2
  "Issuer" means every person who shall have issued or proposes to issue any security; except that (1) with respect to certificates of deposit, voting-trust...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.3
  "Person" means an individual, a corporation, a partnership, an association, a joint stock company, a limited liability company, a limited liability partnership, a trust...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.4
  "Controlling person" means any person offering or selling a security, or group of persons acting in concert in the offer or sale of a...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.5
  "Sale" or "sell" shall have the full meaning of that term as applied by or accepted in the courts of this State, and shall...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.5a
  Offer. "Offer" shall include every offer to sell or otherwise dispose of, or solicitation of an offer to purchase, whether orally or by means...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.6
  "Underwriter" means any person who has purchased a security from an issuer or a controlling person with a view to, or who offers or...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.7
  "Dealer" means any person, other than a salesperson, or controlling person and other than a bank organized under the banking laws of this State...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.8
  "Registered dealer" means a dealer registered under Section 8 of this Act. (Source: Laws 1961, p. 3663.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.8a
  "Principal of a dealer" means any officer, director, partner, member, trustee or manager of such dealer who is responsible for the supervision of the...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.9
  "Salesperson" means an individual, other than an issuer or a dealer, employed or appointed or authorized by a dealer, issuer or controlling person to...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.10
  "Registered salesperson" means a salesperson registered under Section 8 of this Act. "Registered salesperson" also means a registered limited Canadian salesperson. (Source: P.A. 90-70,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.10a
  Telephone solicitor. "Telephone solicitor" means a natural person who makes or causes to be made an unsolicited telephone call with the intent to offer...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.11
  Investment adviser. "Investment adviser" means any person who, for compensation, engages in this State in the business of advising others, either directly or through...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.12
  "Registered investment adviser" means an investment adviser registered under Section 8 of this Act. (Source: Laws 1961, p. 3663.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.12a
  "Principal of an investment adviser" means any officer, director, partner, member, trustee or manager of such investment adviser who is responsible for the supervision...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.12b
  Investment adviser representative. "Investment adviser representative" means, with respect to an investment adviser who is required to register under this Act, any partner, officer,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.12c
  Registered investment adviser representative. "Registered investment adviser representative" means an investment adviser representative registered under Section 8 of this Act. (Source: P.A. 90-70, eff.
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.13
  "Effective date" when used with respect to a registration under the Federal 1933 Act means the date and time as of which a statement...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.14
  "Face amount certificate contract" means any form of "face amount certificate" or "periodic payment plan certificate" (as so designated and defined under the Federal...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.15
  "Investment fund shares" means securities issued by persons known as "investment funds" or "investment companies" or "investment trusts" but such term shall not include...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.16
  "Securities Director" means the chief administrator of the Securities Department, appointed by the Secretary of State. (Source: P.A. 84-869.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17
  "Federal 1933 Act" means the Act of the Congress of the United States known as the Securities Act of 1933, as amended. (Source: P.A.
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17a
  "Federal 1934 Act" means the Act of Congress of the United States known as the Securities Exchange Act of 1934, as amended. (Source: P.A.
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17b
  Federal 1974 Act. "Federal 1974 Act" means the Act of Congress of the United States known as the Commodity Exchange Act, as amended. (Source:...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17c
  "Federal Bankruptcy Code" means the Act of Congress of the United States known as the Bankruptcy Code of 1978, as amended. (Source: P.A. 84-869.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17d
  "Federal 1940 Investment Company Act" means the Act of Congress of the United States known as the Investment Company Act of 1940, as amended....
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17e
  "Federal 1940 Investment Advisers Act" means the Act of Congress of the United States known as the Investment Advisers Act of 1940, as amended....
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.17f
  Federal 1996 Act. "Federal 1996 Act" means the Act of Congress of the United States known as the National Securities Markets Improvement Act of...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.18
  "Clearing corporation" means a clearing corporation as defined in Section 8-102 of the Uniform Commercial Code, as amended. (Source: P.A. 79-1176.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.24
  "State" means any state, territory, or possession of the United States, the District of Columbia and Puerto Rico. (Source: P.A. 83-44.)
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.25
  "Federal ERISA Act" means the Act of Congress of the United States known as the Employee Retirement Income Security Act of 1974, as amended....
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.26
  Mineral investment contract. "Mineral investment contract" means any investment, account, agreement, or contract whereby the investor's profits are dependent upon the transportation, mining, minting,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.27
  Mineral deferred delivery contract. "Mineral deferred delivery contract" means any account, agreement, or contract for the purchase or sale, primarily for speculation or investment...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.28
  Securities exchange. "Securities exchange" means any organization, association, or group of persons, incorporated or unincorporated, located within this State that constitutes, maintains, or provides...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.29
  Covered security. "Covered security" means any security that is a covered security under Section 18(b) of the Federal 1933 Act or rules or regulations...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.30
  Federal covered investment adviser. "Federal covered investment adviser" means a person who is registered under Section 203 of the Federal 1940 Investment Advisers Act....
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.31
  Limited Canadian salesperson. "Limited Canadian salesperson" means a salesperson who is a resident of Canada, has no office or other physical presence in this...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.32
  Limited Canadian dealer. "Limited Canadian dealer" means a dealer who is a resident of Canada, has no office or other physical presence in this...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2.33
  Viatical investment. "Viatical investment" means the contractual right to receive any portion of the death benefit or ownership of a life insurance policy or certificate...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 2a
  Notification filing requirements of issuers of any covered security and payment of fees. All issuers of any covered security (except any security listed or...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 3
  The provisions of Sections 2a, 5, 6 and 7 of this Act shall not apply to any of the following securities: A. Any security...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 4
  Exempt transactions. The provisions of Sections 2a, 5, 6 and 7 of this Act shall not apply to any of the following transactions, except...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 5
  Registration of Securities. All securities except those set forth under Section 2a of this Act, or those exempt under Section 3 of this Act,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 6
  Registration of Face Amount Certificate Contracts. All face amount certificate contracts except those set forth under Section 2a of this Act, or those exempt...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 7
  Registration of Investment Fund Shares. All investment fund shares except those set forth under Section 2a of this Act, or those exempt under Section...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 7a
  (a) Except as provided in subsection (b) of this Section, no securities, issued by an issuer engaged in or deriving revenues from the conduct of...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 8
  Registration of dealers, limited Canadian dealers, salespersons, investment advisers, and investment adviser representatives. A. Except as otherwise provided in this subsection A, every dealer,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 8a
  Advertisement and sale of certain investments. (a) Every person who sells or offers to sell a certificate of deposit shall disclose in every advertisement...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 8b
  Telephone solicitation. (a) A telephone solicitor may not make an unsolicited telephone call to a natural person who does not have a previously existing...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 8c
  Non-English language transactions. A person subject to registration under Section 8 of this Act may conduct transactions in a language other than English through...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 9
  Advertising. The Secretary of State may by rule or regulation require the filing with him or her of any prospectus, pamphlet, circular, form letter,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 10
  Service of process. A. A consent to service of process shall be in the form prescribed by the Secretary of State, shall be irrevocable,...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 11
  Duties and powers of the Secretary of State. A. (1) The administration of this Act is vested in the Secretary of State, who may...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 11.5
  Securities exchange registration. (a) A person shall not operate a securities exchange in this State unless it has been registered with the Secretary of State....
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 11a
  Fees. (1) The Secretary of State shall by rule or regulation impose and shall collect reasonable fees necessary for the administration of this Act...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 11b
  Special funds. All moneys received by the State of Illinois in furtherance of activities, duties, and responsibilities under the Illinois Securities Law of 1953...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 11c
  Securities Audit and Enforcement Fund. (a) All moneys received by the Secretary of State as a Securities Audit and Enforcement Fund fee or pursuant...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 12
  Violation. It shall be a violation of the provisions of this Act for any person: A. To offer or sell any security except in...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 13
  Private and other civil remedies; securities. A. Every sale of a security made in violation of the provisions of this Act shall be voidable at...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 14
  Sentence. A. Any person who violates any of the provisions of subsection A, B, C, or D of Section 12 or paragraph (3) of...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 15
  Evidentiary matters. A. In any action, administrative, civil or criminal, where a defense is based upon any exemption provided for in this Act, the...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 15a
  Issuance of Non-Binding Statements. The Secretary of State, or any person designated by him or her, may issue a statement concerning the applicability of...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 16
  Saving clauses. Notwithstanding any repeal provisions of this Act, the provisions of the Act entitled "An Act relating to the sale or other disposition...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 17
  Separability of provisions. If any provision or provisions of this Act shall be held invalid, the remainder of this Act shall not be affected...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 18
  Repeal. All the provisions of the Act entitled "An Act relating to the sale or other disposition of securities and providing penalties for the...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 18.1
  Additional fees. In addition to any other fee that the Secretary of State may impose and collect pursuant to the authority contained in Sections...
• Illinois Securities Law of 1953. - 815 ILCS 5, Section 19
  Effective date. This Act shall become effective January 1, 1954. (Source: Laws 1953, p. 1329.)

Last modified: February 18, 2015