(815 ILCS 5/2.12b) (from Ch. 121 1/2, par. 137.2-12b)
    Sec. 2.12b. Investment adviser representative. "Investment adviser representative" means, with respect to an investment adviser who is required to register under this Act, any partner, officer, director of (or a person occupying a similar status or performing similar functions), or other natural person employed by or associated with an investment adviser, except clerical or ministerial personnel, who in this State:
        (1) makes any recommendations or otherwise renders
    
advice regarding securities;
        (2) manages accounts or portfolios of clients;
        (3) determines what recommendation or advice
    
regarding securities should be given;
        (4) supervises any employee who performs any of the
    
foregoing; or
        (5) solicits, refers, offers, or negotiates for the
    
sale of, or sells, investment advisory services.
    With respect to a federal covered investment adviser, "investment adviser representative" means any person who is an investment adviser representative with a place of business in this State as such terms are defined by the Securities and Exchange Commission under Section 203A of the Federal 1940 Investment Advisers Act.
(Source: P.A. 90-70, eff. 7-8-97; 90-667, eff. 7-30-98; 91-809, eff. 1-1-01.)