Full Text of HB4430 97th General Assembly
HB4430 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB4430 Introduced 1/30/2012, by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED: | | 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 a technical change in a
Section concerning the definition of security.
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| | A BILL FOR |
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| | | HB4430 | | LRB097 15422 WGH 60522 b |
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| 1 | | AN ACT concerning business.
| 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Securities Law of 1953 is amended | 5 | | by changing Section 2.1 as follows:
| 6 | | (815 ILCS 5/2.1) (from Ch. 121 1/2, par. 137.2-1)
| 7 | | Sec. 2.1. Security. "Security" means any note, stock, | 8 | | treasury stock,
bond, debenture, evidence of indebtedness, | 9 | | certificate of interest or
participation in any profit-sharing | 10 | | agreement, collateral-trust
certificate, preorganization | 11 | | certificate or subscription, transferable
share, investment | 12 | | contract, viatical investment, investment fund share, | 13 | | face-amount certificate,
voting-trust certificate, certificate | 14 | | of deposit
for a security, fractional
undivided interest in | 15 | | oil, gas or other mineral lease, right or royalty,
any put, | 16 | | 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
the value | 19 | | thereof), or any put, call, straddle, option, or
privilege | 20 | | entered into, relating to
foreign currency, or, in general, any | 21 | | interest or instrument commonly known
as a "security", or any | 22 | | certificate of interest or participation in,
temporary or | 23 | | interim certificate for, receipt for, guarantee of, or warrant
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| | | HB4430 | - 2 - | LRB097 15422 WGH 60522 b |
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| 1 | | or right to subscribe to or purchase, any of the foregoing.
| 2 | | "Security" does not mean a mineral investment contract or a | 3 | | mineral
deferred delivery contract; provided, however, the | 4 | | Department shall have
the authority to regulate these contracts | 5 | | as hereinafter provided. | 6 | | (Source: P.A. 96-736, eff. 7-1-10 .)
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