(815 ILCS 602/5-70)
Sec. 5-70.
Rules, forms, orders and hearings.
(a) The Secretary of State may amend, modify, vacate, and expunge orders
and may make, amend and rescind
rules and forms as are necessary to carry out the
provisions of this Law including rules and forms governing
disclosure documents, applications and reports, and defining any
terms, whether or not used in this Law insofar as the
definitions are not inconsistent with the provisions of this
Law. For the purpose of rules and forms, the Secretary of State
may classify business opportunities, persons, and matters within
his or her jurisdiction, and prescribe different requirements
for different classes.
(b) No rule, form, or order may be made, amended, or
rescinded unless the Secretary of State finds that the action is
necessary or appropriate in the public interest or for the
protection of the purchaser. In prescribing rules and forms the
Secretary of State may cooperate with the administrators of
other jurisdictions with a view to effectuating the policy of
this Law to achieve maximum uniformity in the form and content
of disclosure statements, applications, and reports whenever
practicable.
(c) No provision of this Law imposing any liability applies
to any act done or omitted in good faith in conformity with any
rule, form, or order of the Secretary of State, notwithstanding
that the rule, form, or order may later be amended or rescinded
or be determined by judicial or other authority to be invalid
for any reason.
(Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)
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