Illinois General Assembly - Full Text of HB4430
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Full Text of HB4430  97th General Assembly



State of Illinois
2011 and 2012


Introduced 1/30/2012, by Rep. Michael J. Madigan


815 ILCS 5/2.1  from Ch. 121 1/2, par. 137.2-1

    Amends the Illinois Securities Law of 1953. Makes a technical change in a Section concerning the definition of security.

LRB097 15422 WGH 60522 b





HB4430LRB097 15422 WGH 60522 b

1    AN ACT concerning business.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Securities Law of 1953 is amended
5by 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,
8treasury stock, bond, debenture, evidence of indebtedness,
9certificate of interest or participation in any profit-sharing
10agreement, collateral-trust certificate, preorganization
11certificate or subscription, transferable share, investment
12contract, viatical investment, investment fund share,
13face-amount certificate, voting-trust certificate, certificate
14of deposit for a security, fractional undivided interest in
15oil, gas or other mineral lease, right or royalty, any put,
16call, straddle, option, or privilege on any security,
17certificate of deposit, or group or index of securities
18(including any interest therein or based on the the value
19thereof), or any put, call, straddle, option, or privilege
20entered into, relating to foreign currency, or, in general, any
21interest or instrument commonly known as a "security", or any
22certificate of interest or participation in, temporary or
23interim certificate for, receipt for, guarantee of, or warrant



HB4430- 2 -LRB097 15422 WGH 60522 b

1or right to subscribe to or purchase, any of the foregoing.
2"Security" does not mean a mineral investment contract or a
3mineral deferred delivery contract; provided, however, the
4Department shall have the authority to regulate these contracts
5as hereinafter provided.
6(Source: P.A. 96-736, eff. 7-1-10.)