§ 5-5.25 — Ongoing business

Illinois § 5-5.25

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 815: BUSINESS TRANSACTIONS
• Act 815 ILCS 602/: Business Opportunity Sales Law of 1995.
• Art.: Article 5 -

Text

"Ongoing business" means an existing business that, for at least 6 months prior to the offer, has been operated from a specific location, has been open for business to the general public and has substantially all of the equipment and supplies necessary for operating the business.

Legislative History

(Source: P.A. 89-209, eff. 1-1-96.)