Full Text of HB5851 93rd General Assembly
HB5851 93RD GENERAL ASSEMBLY
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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004 HB5851
Introduced 2/6/2004, by Michael J. Madigan SYNOPSIS AS INTRODUCED: |
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815 ILCS 5/2.1 |
from Ch. 121 1/2, par. 137.2-1 |
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Amends the Illinois Securities Law of 1953. Makes stylistic changes in a
Section concerning the definition of security.
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A BILL FOR
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HB5851 |
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LRB093 16904 SAS 42561 b |
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| AN ACT concerning business transactions.
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| Be it enacted by the People of the State of Illinois, | 3 |
| represented in the General Assembly:
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| Section 5. The Illinois Securities Law of 1953 is amended | 5 |
| by changing
Section 2.1 as follows:
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| (815 ILCS 5/2.1) (from Ch. 121 1/2, par. 137.2-1)
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| Sec. 2.1. Security. "Security" shall mean
means any note, | 8 |
| stock,
treasury
stock,
bond, debenture, evidence of | 9 |
| indebtedness, certificate of interest or
participation in any | 10 |
| profit-sharing agreement, collateral-trust
certificate, | 11 |
| preorganization certificate or subscription, transferable
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| share, investment contract, investment fund share, face-amount | 13 |
| certificate,
voting-trust certificate, certificate of deposit, | 14 |
| certificate of deposit
for a security, fractional
undivided | 15 |
| interest in oil, gas or other mineral lease, right or royalty,
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| any put, call, straddle, option, or privilege on any security, | 17 |
| certificate
of deposit, or group or index of securities | 18 |
| (including any interest therein
or based on the value thereof), | 19 |
| or any put, call, straddle, option, or
privilege entered into, | 20 |
| relating to
foreign currency, or, in general, any interest or | 21 |
| instrument commonly known
as a "security", or any certificate | 22 |
| of interest or participation in,
temporary or interim | 23 |
| certificate for, receipt for, guarantee of, or warrant
or right | 24 |
| to subscribe to or purchase, any of the foregoing.
"Security" | 25 |
| shall
does not include
mean a mineral investment
contract or a | 26 |
| mineral
deferred delivery contract; provided, however, the | 27 |
| Department shall have
the authority to regulate these contracts | 28 |
| as hereinafter provided.
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| (Source: P.A. 92-308, eff. 1-1-02.)
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