Bill Title: Amends language in the Illinois Securities Law of 1953 providing that the 3-year period for seeking specified relief under the Act begins to run on the earlier of the date the party bringing the action has actual knowledge of the alleged violation or the date the party bringing the action has notice of facts which in the exercise of reasonable diligence would lead to actual knowledge of the alleged violation. Deletes language providing that the period of limitation may not be extended more than 2 years beyond the expiration of the 3-year period. Effective immediately.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Passed) 2013-08-05 - Public Act . . . . . . . . . 98-0174 [HB2969 Detail]

Text: Latest bill text (Chaptered) [HTML]

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