Illinois § 70 Exemption from securities laws

Illinois Statutes

§ 70 — Exemption from securities laws

Illinois § 70

TopicBUSINESS AND EMPLOYMENT

Ch. 805BUSINESS ORGANIZATIONS

Act 805 ILCS 317/Limited Worker Cooperative Association Act.

This text of Illinois § 70 (Exemption from securities laws) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

805 Ill. Comp. Stat. 70 (2026).

Text

Any interest, patronage refund, per unit retain certificate, or evidence of membership issued or sold by a limited worker cooperative association is exempt from the registration requirements of the Illinois Securities Law of 1953. Such interests, patronage refunds, per unit retain certificates, or evidence of membership may be sold lawfully by the issuer or its members or salaried employees without the necessity of being registered as a broker or dealer under the Illinois Securities Law of 1953.

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Any interest, patronage refund, per unit retain certificate, or evidence of membership issued or sold by a limited worker cooperative association is exempt from the registration requirements of the Illinois Securities Law of 1953. Such interests, patronage refunds, per unit retain certificates, or evidence of membership may be sold lawfully by the issuer or its members or salaried employees without the necessity of being registered as a broker or dealer under the Illinois Securities Law of 1953.