Illinois Senate Bill 3439 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Securities Law of 1953. Eliminates reference to face amount certificate contracts. Provides that, in addition to existing disciplinary penalties, the registrations of dealers and advisers may be limited or conditioned for failure to comply with statutory requirements. Provides that administrative actions may be brought by the Secretary of State within 3 years from the time the Secretary of State had notice of facts that, in the exercise of reasonable diligence would lead to actual knowledge of the violation. Removes provision barring administrative actions 5 years after the date on which the alleged violation occurred. Establishes protections against the financial exploitation of persons 60 years of age or older and persons subject to the Illinois Adult Protective Services Act. Requires certain licensees to report incidents of potential exploitation.

SECURITIES VULNERABLE ADULTS

Sen. Rachelle Crowe [D]

Sen. Patrick Joyce [D]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2020-05-15	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020
2020-05-07	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 29, 2020
2020-05-07	Senate	Rule 2-10 Committee Deadline Established As May 22, 2020
2020-04-30	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 22, 2020
2020-04-30	Senate	Rule 2-10 Committee Deadline Established As May 15, 2020
2020-04-23	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 15, 2020
2020-04-23	Senate	Rule 2-10 Committee Deadline Established As May 7, 2020
2020-04-16	Senate	Rule 2-10 Committee Deadline Established As April 30, 2020
2020-04-12	Senate	Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2020-04-12	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2020-03-25	Senate	Rule 2-10 Third Reading/Passage Deadline Established As May 7, 2020
2020-03-25	Senate	Rule 2-10 Committee Deadline Established As April 24, 2020
2020-03-18	Senate	Rule 2-10 Committee Deadline Established As April 2, 2020
2020-03-04	Senate	Postponed - Judiciary
2020-03-04	Senate	Senate Committee Amendment No. 1 Postponed - Judiciary
2020-02-27	Senate	Senate Committee Amendment No. 1 Assignments Refers to Judiciary
2020-02-26	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2020-02-26	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Rachelle Crowe
2020-02-25	Senate	Assigned to Judiciary
2020-02-18	Senate	Added as Chief Co-Sponsor Sen. Patrick J. Joyce
2020-02-14	Senate	Referred to Assignments
2020-02-14	Senate	First Reading
2020-02-14	Senate	Filed with Secretary by Sen. Rachelle Crowe

Chapter	Article	Section	Citation Type	Statute Text
815	5	11	Amended Code	Citation Text
815	5	11.7	New Code	See Bill Text
815	5	12	Amended Code	Citation Text
815	5	12.5	New Code	See Bill Text
815	5	14	Amended Code	Citation Text
815	5	2.1	Amended Code	Citation Text
815	5	2.14	Repealed Code	Citation Text
815	5	8	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3439&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB3439.htm
Amendment	https://www.ilga.gov/legislation/101/SB/10100SB3439sam001.htm