(815 ILCS 5/10) (from Ch. 121 1/2, par. 137.10)
Sec. 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, and shall provide that actions arising out of or founded upon
the offer or sale of any securities in alleged violation of this Act may be
commenced against the person executing the consent in any circuit
court within this State, by the service of process upon the Secretary of State.
Service of any process or pleading in any action against a person who
has filed under this Act a consent to service of process upon the Secretary
of State shall, if made on the Secretary of State, be by duplicate
copies, one of which shall be filed in the office of the Secretary of
State and the other immediately forwarded by the Secretary of State by
registered mail or certified mail, return receipt requested, to the person at
his or her latest address on file in the
office of the Secretary of State. The filing fee for service of process
under this subsection A shall be as established pursuant to Section 11a of this
Act, and shall not be returnable in any event.
B. (1) The filing of a notice filing under Section 2a of this Act or of
an application for
registration under Section 5, 6,
7, or 8 of this Act, or the offer, sale or delivery of securities in this
State, whether effected by mail or otherwise, by any person (unless the
securities are exempt from registration under subsection A or B of
Section 3 of this Act) shall be equivalent to and shall constitute an
appointment of the Secretary of State, or his or her successors in office, by
the person and the issuer of the securities to be the
true and lawful attorney for the person upon whom may be served
all lawful process in any action or proceeding against the person,
arising out of the offer or sale of the securities.
(2) Service of process under this subsection B shall be made by serving a
copy upon the Secretary of State or any employee in his or her office
designated by the Secretary of State to accept such service for him
or her, provided notice of such and a copy of the process are,
within 10 days thereafter, sent by registered mail or certified mail, return
receipt requested, by the plaintiff to the defendant, at the last known address
of the defendant. The filing fee for service of process under this subsection
B shall be as established pursuant to Section 11a of this Act, and shall not be
returnable in any event. The Secretary of State shall keep a record of all
such processes which shall show the day of the
service.
C. Notwithstanding the foregoing, the filing of an application by an
issuer, controlling person, registered dealer, or limited Canadian
dealer
for the registration of a
salesperson shall also constitute the appointment by the
salesperson of the issuer, controlling person, registered
dealer, or limited Canadian dealer to be the true and lawful attorney for
the person upon
whom may be served all lawful process against the person, arising
under subsection J of Section 8 or Section 11 of this Act. Following any
service in the foregoing manner, the Secretary of State shall, as soon
thereafter as reasonably practical, serve a copy of the lawful
process to the person by registered mail or certified mail, return
receipt requested, at his, her, or its last known address.
(Source: P.A. 89-209, eff. 1-1-96; 89-626, eff. 8-9-96; 90-70, eff.
7-8-97.)
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