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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004 HB5851
Introduced 2/6/2004, by Michael J. Madigan SYNOPSIS AS INTRODUCED: |
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815 ILCS 5/2.1 |
from Ch. 121 1/2, par. 137.2-1 |
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Amends the Illinois Securities Law of 1953. Makes stylistic changes in a
Section concerning the definition of security.
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A BILL FOR
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HB5851 |
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LRB093 16904 SAS 42561 b |
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| AN ACT concerning business transactions.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Securities Law of 1953 is amended |
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| by changing
Section 2.1 as follows:
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| (815 ILCS 5/2.1) (from Ch. 121 1/2, par. 137.2-1)
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| Sec. 2.1. Security. "Security" shall mean
means any note, |
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| stock,
treasury
stock,
bond, debenture, evidence of |
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| indebtedness, certificate of interest or
participation in any |
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| profit-sharing agreement, collateral-trust
certificate, |
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| preorganization certificate or subscription, transferable
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| share, investment contract, investment fund share, face-amount |
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| certificate,
voting-trust certificate, certificate of deposit, |
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| certificate of deposit
for a security, fractional
undivided |
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| interest in oil, gas or other mineral lease, right or royalty,
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| any put, call, straddle, option, or privilege on any security, |
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| certificate
of deposit, or group or index of securities |
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| (including any interest therein
or based on the value thereof), |
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| or any put, call, straddle, option, or
privilege entered into, |
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| relating to
foreign currency, or, in general, any interest or |
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| instrument commonly known
as a "security", or any certificate |
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| of interest or participation in,
temporary or interim |
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| certificate for, receipt for, guarantee of, or warrant
or right |
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| to subscribe to or purchase, any of the foregoing.
"Security" |
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| shall
does not include
mean a mineral investment
contract or a |
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| mineral
deferred delivery contract; provided, however, the |
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| Department shall have
the authority to regulate these contracts |
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| as hereinafter provided.
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| (Source: P.A. 92-308, eff. 1-1-02.)
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