102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1005

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 5/2.1  from Ch. 121 1/2, par. 137.2-1

    Amends the Illinois Securities Law of 1953. Makes a technical change in a Section concerning the definition of security.


LRB102 03018 KTG 13031 b

 

 

A BILL FOR

 

HB1005LRB102 03018 KTG 13031 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Securities Law of 1953 is amended
5by changing Section 2.1 as follows:
 
6    (815 ILCS 5/2.1)  (from Ch. 121 1/2, par. 137.2-1)
7    Sec. 2.1. Security. "Security" means any note, stock,
8treasury stock, bond, debenture, evidence of indebtedness,
9certificate of interest or participation in any profit-sharing
10agreement, collateral-trust certificate, preorganization
11certificate or subscription, transferable share, investment
12contract, viatical investment, investment fund share,
13face-amount certificate, voting-trust certificate,
14certificate of deposit for a security, fractional undivided
15interest in oil, gas or other mineral lease, right or royalty,
16any put, call, straddle, option, or privilege on any security,
17certificate of deposit, or group or index of securities
18(including any interest therein or based on the the value
19thereof), or any put, call, straddle, option, or privilege
20entered into, relating to foreign currency, or, in general,
21any interest or instrument commonly known as a "security", or
22any certificate of interest or participation in, temporary or
23interim certificate for, receipt for, guarantee of, or warrant

 

 

HB1005- 2 -LRB102 03018 KTG 13031 b

1or right to subscribe to or purchase, any of the foregoing.
2"Security" does not mean a mineral investment contract or a
3mineral deferred delivery contract; provided, however, the
4Department shall have the authority to regulate these
5contracts as hereinafter provided.
6(Source: P.A. 96-736, eff. 7-1-10.)