(215 ILCS 110/33) (from Ch. 32, par. 690.33)
Sec. 33.
No corporation subject to the provisions of this Act shall, except
upon the approval of the Director, disburse during any one calendar year
more than 10% of the aggregate amount of payments received from subscribers
during that year as expenditures for the solicitation of subscribers,
except that during the first year after the issuance of a charter such
corporation may so disburse not more than 20% of such amount, and during
the second year not more than 15% thereof.
(Source: Laws 1965, p. 2179.)
|