Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 5/2.34) Sec. 2.34. Accredited investor. "Accredited investor" has the meaning given to that term in 17 CFR 230.501(a), as amended and in effect from time to time. (Source: P.A. 99-182, eff. 1-1-16.)

(815 ILCS 5/2.35) Sec. 2.35. Qualified escrowee. "Qualified escrowee" means a person, firm, partnership, association, corporation, or other legal entity who: (a) falls under the definition of "title insurance company" under, and pursuant to the terms and requirements of, the Titl…

(815 ILCS 5/2.36) Sec. 2.36. Registered Internet portal. "Registered Internet portal" means an Internet portal maintained by a corporation or other legal entity that is being used to offer or sell securities and that meets the requirements of Section 8d of this Act. (Source: P.A.…

(815 ILCS 5/2.4) (from Ch. 121 1/2, par. 137.2-4) Sec. 2.4. "Controlling person" means any person offering or selling a security, or group of persons acting in concert in the offer or sale of a security, owning beneficially (and in the absence of knowledge, or reasonable grounds …

(815 ILCS 5/2.5) (from Ch. 121 1/2, par. 137.2-5) Sec. 2.5. "Sale" or "sell" shall have the full meaning of that term as applied by or accepted in the courts of this State, and shall include every contract of sale or disposition of a security or interest in a security for value. …

(815 ILCS 5/2.5a) (from Ch. 121 1/2, par. 137.2-5a) Sec. 2.5a. Offer. "Offer" shall include every offer to sell or otherwise dispose of, or solicitation of an offer to purchase, whether orally or by means of publication, including but not limited to printed and electronic media, …

(815 ILCS 5/2.6) (from Ch. 121 1/2, par. 137.2-6) Sec. 2.6. "Underwriter" means any person who has purchased a security from an issuer or a controlling person with a view to, or who offers or sells a security for an issuer or a controlling person in connection with, the distribut…

(815 ILCS 5/2.7) (from Ch. 121 1/2, par. 137.2-7) Sec. 2.7. "Dealer" means any person, other than a salesperson, or controlling person and other than a bank organized under the banking laws of this State or of the United States or other than a trust company organized under the la…

(815 ILCS 5/2.8) (from Ch. 121 1/2, par. 137.2-8) Sec. 2.8. "Registered dealer" means a dealer registered under Section 8 of this Act. (Source: Laws 1961, p. 3663.)

(815 ILCS 5/2.8a) (from Ch. 121 1/2, par. 137.2-8a) Sec. 2.8a. "Principal of a dealer" means any officer, director, partner, member, trustee or manager of such dealer who is responsible for the supervision of the securities activities in this State of salespersons and for managem…

(815 ILCS 5/2.9) (from Ch. 121 1/2, par. 137.2-9) Sec. 2.9. "Salesperson" means an individual, other than an issuer or a dealer, employed or appointed or authorized by a dealer, issuer or controlling person to offer, purchase or sell securities in this State. The partners or offi…

(815 ILCS 5/2a) Sec. 2a. Notification filing requirements of issuers of any covered security and payment of fees. All issuers of any covered security (except any security listed or authorized for listing on the New York Stock Exchange or American Stock Exchange or listed on the N…

(815 ILCS 5/3) (from Ch. 121 1/2, par. 137.3) Sec. 3. The provisions of Sections 2a, 5, 6 and 7 of this Act shall not apply to any of the following securities: A. Any security (including a revenue obligation) issued or guaranteed by the United States, any state, any political sub…

(815 ILCS 5/3.5) Sec. 3.5. Authority of Secretary of State. Notwithstanding any other law, the Secretary of State has the authority to enforce this Act as it pertains to the offer, sale, or investment advice concerning a covered security as defined by Section 2.29. (Source: P.A. …

(815 ILCS 5/4) (from Ch. 121 1/2, par. 137.4) Sec. 4. Exempt transactions. The provisions of Sections 2a, 5, 6 and 7 of this Act shall not apply to any of the following transactions, except where otherwise specified in this Section 4: A. Any offer or sale, whether through a deale…

(815 ILCS 5/5) (from Ch. 121 1/2, par. 137.5) Sec. 5. Registration of Securities. All securities except those set forth under Section 2a of this Act, or those exempt under Section 3 of this Act, or those offered or sold in transactions exempt under Section 4 of this Act, or face …

(815 ILCS 5/6) (from Ch. 121 1/2, par. 137.6) Sec. 6. Registration of Face Amount Certificate Contracts. All face amount certificate contracts except those set forth under Section 2a of this Act, or those exempt under Section 3 of this Act, or those offered or sold in transaction…

(815 ILCS 5/7) (from Ch. 121 1/2, par. 137.7) Sec. 7. Registration of Investment Fund Shares. All investment fund shares except those set forth under Section 2a of this Act, or those exempt under Section 3 of this Act, or those offered or sold in transactions exempt under Section…

(815 ILCS 5/7a) (from Ch. 121 1/2, par. 137.7a) Sec. 7a. (a) Except as provided in subsection (b) of this Section, no securities, issued by an issuer engaged in or deriving revenues from the conduct of any business or profession, the conduct of which would violate Section 11-14, …

(815 ILCS 5/8) (from Ch. 121 1/2, par. 137.8) Sec. 8. Registration of dealers, limited Canadian dealers, Internet portals, salespersons, investment advisers, and investment adviser representatives. A. Except as otherwise provided in this subsection A, every dealer, limited Canadi…

(815 ILCS 5/8a) (from Ch. 121 1/2, par. 137.8a) Sec. 8a. Advertisement and sale of certain investments. (a) Every person who sells or offers to sell a certificate of deposit shall disclose in every advertisement therefor whether the certificate of deposit is insured, the identity…

(815 ILCS 5/8b) Sec. 8b. Telephone solicitation. (a) A telephone solicitor may not make an unsolicited telephone call to a natural person who does not have a previously existing account relationship with the telephone solicitor unless: (1) immediately after making contact with th…

(815 ILCS 5/8c) Sec. 8c. Non-English language transactions. A person subject to registration under Section 8 of this Act may conduct transactions in a language other than English through an employee or agent acting as interpreter or through an interpreter provided by the customer…

(815 ILCS 5/8d) Sec. 8d. Offerings made through registered Internet portals. (a) An issuer shall make an offering or sale of securities pursuant to subsection T of Section 4 of this Act through the use of one or more registered Internet portals. (b) The Internet portal: (1) shall…

(815 ILCS 5/9) (from Ch. 121 1/2, par. 137.9) Sec. 9. Advertising. The Secretary of State may by rule or regulation require the filing with him or her of any prospectus, pamphlet, circular, form letter, advertisement or other sales literature or advertising communication addresse…

(815 ILCS 10/0.01) Sec. 0.01. Short title. This Act may be cited as the Uniform TOD Security Registration Act. (Source: P.A. 88-577, eff. 1/1/95.)

(815 ILCS 10/1) Sec. 1. Definitions. In this Act, unless the context otherwise requires: (1) "Beneficiary form" means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of th…

(815 ILCS 10/10) Sec. 10. Terms, conditions, and forms for registration. (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (i) for registrations in beneficiary form, and (ii) f…

(815 ILCS 10/11) Sec. 11. Short title; rules of construction. (1) Short title. See Section 0.01. (2) This Act shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of this Act among states e…

(815 ILCS 10/12) Sec. 12. Application of Act. This Act applies to registrations of securities in beneficiary form made before, on, or after the effective date of this Act, by decedents dying on or after the effective date. (Source: P.A. 88-577, eff. 1-1-95.)

(815 ILCS 10/2) Sec. 2. Registration in beneficiary form; sole or joint tenancy ownership. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, m…

(815 ILCS 10/3) Sec. 3. Registration in beneficiary form; applicable law. A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering enti…

(815 ILCS 10/4) Sec. 4. Origination of registration in beneficiary form. A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the…

(815 ILCS 10/5) Sec. 5. Form of registration in beneficiary form. Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD", or by the words "pay on death" or the abbreviation "POD", after the name of the registered owner and before …

(815 ILCS 10/6) Sec. 6. Effect of registration in beneficiary form and cancellation. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or …

(815 ILCS 10/7) Sec. 7. Ownership on death of owner. On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and c…

(815 ILCS 10/8) Sec. 8. Protection of registering entity. (a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registr…

(815 ILCS 10/9) Sec. 9. Nontestamentary transfer on death. (a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this Act and is not testamentary…

(815 ILCS 105/0.01) (from Ch. 17, par. 600) Sec. 0.01. Short title. This Act may be cited as the Promissory Note and Bank Holiday Act. (Source: P.A. 86-1324.)

(815 ILCS 105/10) (from Ch. 17, par. 611) Sec. 10. If any fraud or circumvention be used in obtaining the making or executing of any of the instruments aforesaid, such fraud or circumvention may be pleaded in bar to any action to be brought on any such instrument so obtained, whe…

(815 ILCS 105/11) (from Ch. 17, par. 612) Sec. 11. If any such note, bond, bill or other instrument in writing shall be indorsed after the same becomes due, and any indorsee shall institute an action thereon against the maker of the same, the defendant being maker shall be allowe…

(815 ILCS 105/12) (from Ch. 17, par. 613) Sec. 12. In any action upon a note, bond, bill, or other instrument in writing, which has been assigned to or transferred by delivery to the plaintiff after it became due, a set-off to the amount of the plaintiff's debt may be made of a d…

(815 ILCS 105/13) (from Ch. 17, par. 614) Sec. 13. If any such note, bond, bill, or other instrument of writing, shall be assigned before the day the money or property therein mentioned becomes due and payable, and the assignee shall institute an action thereon, the defendant may…

(815 ILCS 105/14) (from Ch. 17, par. 615) Sec. 14. In any action founded upon any note, bond, bill, or other instrument in writing, or in which the same, if produced might be allowed as a set-off in defense, if it shall appear that such instrument was lost while belonging to the …

(815 ILCS 105/15) (from Ch. 17, par. 616) Sec. 15. No promissory note, cheque, draft, bill of exchange, order or other negotiable or commercial instruments, shall be entitled to days of grace, but shall be absolutely payable at maturity. (Source: Laws 1895, p. 261.)

(815 ILCS 105/16) (from Ch. 17, par. 617) Sec. 16. In all computations of time, and of interest and discounts, a month shall be considered to mean a calendar month, and a year shall consist of twelve calendar months; and in computations of interest or discounts for any number of …

(815 ILCS 105/3) (from Ch. 17, par. 601) Sec. 3. All promissory notes, bonds, due bills and other instruments in writing, made or to be made, by any person, body politic or corporate, whereby such person promises or agrees to pay any sum of money or articles of personal property,…

(815 ILCS 105/4) (from Ch. 17, par. 602) Sec. 4. Any note, bond, bill or other written instrument, made payable to any person named as payee therein, shall be assignable, by indorsement thereon, under the signature of such person, and of his assignees, in the same manner as bills…

(815 ILCS 105/5) (from Ch. 17, par. 603) Sec. 5. Any assignee to whom such sum of money or personal property is, by such indorsement or indorsements, made payable, or in case of the death of such assignee, his executor or administrator, may, in his own name, institute and maintai…

(815 ILCS 105/6) (from Ch. 17, par. 604) Sec. 6. No maker of any such note, bond, bill, or other instrument in writing, or other person liable thereon, shall be allowed to allege payment to the payee, made after notice of assignment, as a defense against the assignee. (Source: R.…