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Public Act 093-0927


 

Public Act 0927 93RD GENERAL ASSEMBLY



 


 
Public Act 093-0927
 
SB2559 Enrolled LRB093 20591 RXD 46406 b

    AN ACT concerning business transactions.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Securities Law of 1953 is amended
by changing Section 2.1 as follows:
 
    (815 ILCS 5/2.1)  (from Ch. 121 1/2, par. 137.2-1)
    Sec. 2.1. Security. "Security" means any note, stock,
treasury stock, bond, debenture, evidence of indebtedness,
certificate of interest or participation in any profit-sharing
agreement, collateral-trust certificate, preorganization
certificate or subscription, transferable share, investment
contract, investment fund share, face-amount certificate,
voting-trust certificate, certificate of deposit, certificate
of deposit for a security, fractional undivided interest in
oil, gas or other mineral lease, right or royalty, any put,
call, straddle, option, or privilege on any security,
certificate of deposit, or group or index of securities
(including any interest therein or based on the value thereof),
or any put, call, straddle, option, or privilege entered into,
relating to foreign currency, or, in general, any interest or
instrument commonly known as a "security", or any certificate
of interest or participation in, temporary or interim
certificate for, receipt for, guarantee of, or warrant or right
to subscribe to or purchase, any of the foregoing. "Security"
does not mean a mineral investment contract or a mineral
deferred delivery contract; provided, however, the Department
shall have the authority to regulate these contracts as
hereinafter provided.
(Source: P.A. 92-308, eff. 1-1-02.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/12/2004