SECURITIES LAW-VIOLATION-FINE
Summary
Amends the Illinois Securities Law of 1953. Provides that the Secretary of State may impose a fine not to exceed $100,000 (instead of not to exceed $10,000) for a violation of the Law. Provides that in addition to any other sanction or remedy provided for, the Secretary of State, after finding that any provision of the Law has been violated, shall notify all of the clients of any sanctioned party, by registered mail, that a violation has taken place. Provides that the costs of this notification shall be covered by fines imposed on the sanctioned party. Provides for immunity from liability for the Secretary of State. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2010
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2010
Last action Jan 11, 2011
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Jan 11, 2011
House · Failed
Session Sine Die
Mar 15, 2010
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 16, 2010
House · Referred to committee
Assigned to Judiciary I - Civil Law Committee
Feb 9, 2010
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Bill Mitchell
RRepublican
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