TITLE 14: COMMERCE
SUBTITLE A: REGULATION OF BUSINESS
CHAPTER I: SECRETARY OF STATE
PART 130 REGULATIONS UNDER ILLINOIS SECURITIES LAW OF 1953
SECTION 130.750 ADDITIONAL FEES UNDER SECTION 7 OF THE ACT
Section 130.750 Additional Fees Under Section 7 of the Act
a) The Secretary shall impose an additional fee for the failure to file with the Securities Department written notice of SEC effectiveness within two (2) business days of the date that the SEC has granted effectiveness. The additional fee for the third through tenth day after SEC effectiveness shall be as set forth in Section 130.110 of this Part.
b) The additional fee for filing written notice of SEC effectiveness after the tenth day after SEC effectiveness shall be as set forth in Section 130.110 of this Part.
c) The Secretary shall waive the additional fee if:
1) the applicant has been granted a waiver of concurrent effectiveness under Section 7(A)(7) of the Act; or
2) the additional fee, if paid, would render the applicant insolvent as defined in Section 130.200 of this Part.
d) For the limited purposes of this Section, two (2) business days shall mean two (2) business days from the date of SEC effectiveness unless the offering is declared effective on a Saturday, Sunday or a holiday. If the date of SEC effectiveness is a Saturday, Sunday or a holiday, two (2) business days means two (2) business days after the first business day immediately following the Saturday, Sunday or holiday.
(Source: Added at 14 Ill. Reg. 884, effective December 30, 1989)