Illinois General Assembly - Bill Status for SB3439
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 Bill Status of SB3439  102nd General Assembly

Short Description:  SECURITIES VULNERABLE ADULTS

Senate Sponsors
Sen. Rachelle Crowe - Patrick J. Joyce

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
815 ILCS 5/2.1from Ch. 121 1/2, par. 137.2-1
815 ILCS 5/8from Ch. 121 1/2, par. 137.8
815 ILCS 5/11from Ch. 121 1/2, par. 137.11
815 ILCS 5/11.7 new
815 ILCS 5/12from Ch. 121 1/2, par. 137.12
815 ILCS 5/12.5 new
815 ILCS 5/14from Ch. 121 1/2, par. 137.14
815 ILCS 5/2.14 rep.


Synopsis As Introduced
Amends the Illinois Securities Law of 1953. Eliminates reference to face amount certificate contracts. Provides that, in addition to existing disciplinary penalties, the registrations of dealers and advisers may be limited or conditioned for failure to comply with statutory requirements. Provides that administrative actions may be brought by the Secretary of State within 3 years from the time the Secretary of State had notice of facts that, in the exercise of reasonable diligence would lead to actual knowledge of the violation. Removes provision barring administrative actions 5 years after the date on which the alleged violation occurred. Establishes protections against the financial exploitation of persons 60 years of age or older and persons subject to the Illinois Adult Protective Services Act. Requires certain licensees to report incidents of potential exploitation.

Actions 
DateChamber Action
  2/14/2020SenateFiled with Secretary by Sen. Rachelle Crowe
  2/14/2020SenateFirst Reading
  2/14/2020SenateReferred to Assignments
  2/18/2020SenateAdded as Chief Co-Sponsor Sen. Patrick J. Joyce
  2/25/2020SenateAssigned to Judiciary
  2/26/2020SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Rachelle Crowe
  2/26/2020SenateSenate Committee Amendment No. 1 Referred to Assignments
  2/27/2020SenateSenate Committee Amendment No. 1 Assignments Refers to Judiciary
  3/4/2020SenateSenate Committee Amendment No. 1 Postponed - Judiciary
  3/4/2020SenatePostponed - Judiciary
  3/18/2020SenateRule 2-10 Committee Deadline Established As April 2, 2020
  3/25/2020SenateRule 2-10 Committee Deadline Established As April 24, 2020
  3/25/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 7, 2020
  4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/12/2020SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/16/2020SenateRule 2-10 Committee Deadline Established As April 30, 2020
  4/23/2020SenateRule 2-10 Committee Deadline Established As May 7, 2020
  4/23/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 15, 2020
  4/30/2020SenateRule 2-10 Committee Deadline Established As May 15, 2020
  4/30/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 22, 2020
  5/7/2020SenateRule 2-10 Committee Deadline Established As May 22, 2020
  5/7/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 29, 2020
  5/15/2020SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020
  1/13/2021SenateSession Sine Die

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