TITLE 14: COMMERCE
SUBTITLE A: REGULATION OF BUSINESS
CHAPTER I: SECRETARY OF STATE
PART 130 REGULATIONS UNDER ILLINOIS SECURITIES LAW OF 1953
SECTION 130.1661 INVESTORS SYNDICATE OF AMERICA, INC.
Section 130.1661 Investors Syndicate of America, Inc.
a) The Secretary of State recognizes that the face amount certificate contracts registered prior to January 1, 1984, under The Illinois Securities Law of 1953 by Investors Syndicate of America, Inc. are defined by the issuer as "Face Amount Certificates" and the issuer thereof is qualified as a registered investment company under the Investment Company Act of 1940 and maintains, under the rules and regulations of the Federal Securities and Exchange Commission, a deposit of securities with a qualified institution which deposit would be applicable to all contract liability established and accruing on such "Face Amount Certificates" outstanding with persons residing in Illinois. Accordingly, the Secretary of State recognizes the Central Deposit established and maintained by Investors Syndicate of America, Inc. pursuant to the rules and regulations of the Federal Securities and Exchange Commission in lieu of and in substitution for the deposit presently being maintained with the Secretary of State under Section 6 of The Illinois Securities Loan of 1953 as in effect at the time of registration and hereby authorizes the transfer of all securities, except the minimum deposit of $50,000 as prescribed under Section 6 of the Act as in effect at the time of registration, to the Central Deposit.
b) Investors Syndicate of America, Inc. is to continue to furnish to the Secretary of State all reports and statements required by Section 6 of the Act as in effect at the time of registration and is directed to furnish to the Secretary of State an annual statement prepared and certified by an independent certified public accountant, showing all deposits required to be maintained for the benefit of holders of contracts issued by Investors Syndicate of America, Inc., the amounts of such deposits, the contract liability applicable to each state of the United States, including the State of Illinois, against which such deposits are maintained in the Central Deposit and various state depositories, if applicable.