Section 130.220  Definition of "Regularly Engaged in Securities Sales Activities", as Used in Section 2.9 of the Act

The term "regularly engaged in securities sales activities" in Section 2.9 of the Act means making more than 10 sales, as defined in Section 2.5 of the Act, within a consecutive 12 month period, or without numerical limitation if no commission, discount or remuneration is paid or given, directly or indirectly, on account of any sale of the securities.  For purposes of computing the number of sales, transactions enumerated in Section 4, other than subsection F, of the Act shall be excluded.

(Source:  Amended at 20 Ill. Reg. 14185, effective October 21, 1996)