Bill Text: IL HB1269 | 2009-2010 | 96th General Assembly | Introduced
Bill Title: Amends the Illinois Securities Law of 1953. Makes a technical change in a Section concerning the definition of security.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB1269 Detail]
Download: Illinois-2009-HB1269-Introduced.html
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1 | AN ACT concerning business.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Securities Law of 1953 is amended | |||||||||||||||||||
5 | by changing Section 2.1 as follows:
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6 | (815 ILCS 5/2.1) (from Ch. 121 1/2, par. 137.2-1)
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7 | Sec. 2.1. Security. "Security" means any note, stock, | |||||||||||||||||||
8 | treasury stock,
bond, debenture, evidence of indebtedness, | |||||||||||||||||||
9 | certificate of interest or
participation in any profit-sharing | |||||||||||||||||||
10 | agreement, collateral-trust
certificate, preorganization | |||||||||||||||||||
11 | certificate or subscription, transferable
share, investment | |||||||||||||||||||
12 | contract, investment fund share, face-amount certificate,
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13 | voting-trust certificate, certificate of deposit
for a | |||||||||||||||||||
14 | security, fractional
undivided interest in oil, gas or other | |||||||||||||||||||
15 | mineral lease, right or royalty,
any put, call, straddle, | |||||||||||||||||||
16 | option, or privilege on any security, certificate
of deposit, | |||||||||||||||||||
17 | or group or index of securities (including any interest therein
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18 | or based on the
the value thereof), or any put, call, straddle, | |||||||||||||||||||
19 | option, or
privilege entered into, relating to
foreign | |||||||||||||||||||
20 | currency, or, in general, any interest or instrument commonly | |||||||||||||||||||
21 | known
as a "security", or any certificate of interest or | |||||||||||||||||||
22 | participation in,
temporary or interim certificate for, | |||||||||||||||||||
23 | receipt for, guarantee of, or warrant
or right to subscribe to |
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1 | or purchase, any of the foregoing.
"Security" does not mean a | ||||||
2 | mineral investment contract or a mineral
deferred delivery | ||||||
3 | contract; provided, however, the Department shall have
the | ||||||
4 | authority to regulate these contracts as hereinafter provided. | ||||||
5 | (Source: P.A. 92-308, eff. 1-1-02; 93-927, eff. 8-12-04.)
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