Sen. Carole Pankau
Filed: 5/25/2007
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 11




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    AMENDMENT NO. ______. Amend Senate Bill 11, AS AMENDED, 
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with reference to page and line numbers of Senate Amendment No. 
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1, on page 111, line 20, by replacing "and 7.7" with "7.7, and 
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7.10"; and
 
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on page 152, immediately below line 18, by inserting the 
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following:

 
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    "(230 ILCS 10/7.10  new)
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    Sec. 7.10. Legislative financial interest in owners 
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licensee prohibited.
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    (a) A member of the General Assembly or his or her spouse, 
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a child, either natural or adopted, of the member or his or her 
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spouse, or a parent of the member or his or her spouse may not, 
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directly or indirectly, own any financial interest in, have any 
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beneficial interest in, be the creditor of or hold any debt 
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instrument issued by, or hold or have any interest in any 
 


 






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contractual or service relationship with an owners licensee 
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whose owners license is issued on or after the effective date 
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of this Section.

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    (b) Any person who knows or reasonably should know that he 
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or she is in violation of this Section must divest himself or 
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herself from the interest in the licensee within 30 days. If 
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the person does not divest his or her interest within the 
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30-day period, then he or she  shall be deemed guilty of a Class 
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A misdemeanor.".