Illinois Compiled Statutes
815 ILCS 5/2.1 (2026)
Security
✓ current as of May 2026
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(815 ILCS 5/2.1)
(from Ch. 121 1/2, par. 137.2-1)
Sec. 2.1. Security. "Security" means any note, stock, treasury stock,
bond, debenture, evidence of indebtedness, certificate of interest or
participation in any profit-sharing agreement, collateral-trust
certificate, preorganization certificate or subscription, transferable
share, investment contract, viatical investment, investment fund share, face-amount certificate,
voting-trust certificate, certificate of deposit
for a security, fractional
undivided interest in oil, gas or other mineral lease, right or royalty,
any put, call, straddle, option, or privilege on any security, certificate
of deposit, or group or index of securities (including any interest therein
or based on the value thereof), or any put, call, straddle, option, or
privilege entered into, relating to
foreign currency, or, in general, any interest or instrument commonly known
as a "security", or any certificate of interest or participation in,
temporary or interim certificate for, receipt for, guarantee of, or warrant
or right to subscribe to or purchase, any of the foregoing.
"Security" does not mean a mineral investment contract or a mineral
deferred delivery contract; provided, however, the Department shall have
the authority to regulate these contracts as hereinafter provided.
(Source: P.A. 96-736, eff. 7-1-10.)
Notes of Decisions
Cited in 20
cases (2 in the last 5 years), 1993–2024 · leading case: Van Dyke v. White, 2019 IL 121452 (Ill. 2019).
Van Dyke v. White, 2019 IL 121452 (Ill. 2019). “1 of the Act (815 ILCS 5/2.1 (West 2012)), the term ‘security’ is defined to include a ‘face-amount certificate.”
Jacqueline Goldberg v. 401 N. Wabash Venture, L.L.C., 755 F.3d 456 (7th Cir. 2014). “” 815 ILCS 5/2.1, 5/5. The plaintiff argues that the purchase agreement she signed was an investment contract, just as if it had been a contract to purchase shares of stock in TrumpOrg, because she was investing in a pool of commingled assets— the health club, the ballrooms, etc.”
Van Dyke v. White, 2019 IL 121452 (Ill. 2019). “1 of the Act (815 ILCS 5/2.1 (West 2012)), the term ‘security’ is defined to include a ‘face-amount certificate.”
Integrated Rsch. Servs., Inc. v. Sec'y of State, 765 N.E.2d 130 (Ill. App. Ct. 2002). “” Because it is undisputed that the investment opportunity they offer is not any of these and is not traded on a “national securities exchange,” plaintiffs argue that it is not a security.”
Doherty v. Kahn, 682 N.E.2d 163 (Ill. App. Ct. 1997). “The Illinois Securities Law of 1953 defines "security” as: "any note, stock, treasury stock ***, or, in general, any interest or instrument commonly known as a 'security’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for,…”
Khan v. BDO Seidman, LLP, 935 N.E.2d 1174 (Ill. App. Ct. 2010). “" 815 ILCS 5/2.1 (West 2008); *1194 see also N.”
Babiarz v. Stearns, 2016 IL App (1st) 150988 (Ill. App. Ct. 2016). “right or royalty, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into, relating to…”
Aste v. Metro. Life Ins., 728 N.E.2d 629 (Ill. App. Ct. 2000). “815 ILCS 5/2.1 (West 1992). Clearly this document contemplates securities transactions.”
Van Dyke v. White, 2016 IL App (4th) 141109 (Ill. App. Ct. 2016). “1 of -9- the Act (815 ILCS 5/2.1 (West 2012)), the term “security” is defined to include a “face-amount certificate.”
Van Dyke v. White, 2016 IL App (4th) 141109 (Ill. App. Ct. 2016). “1 of the Act (815 ILCS 5/2.1 (West 2012)), the term “security” is defined to include a “face-amount certificate.”
Goldberg v. 401 North Wabash Venture LLC, 904 F. Supp. 2d 820 (N.D. Ill. 2012). “” 815 ILCS 5/2.1; accord 15 U.S.C. § 77b(a)(l).”
Kim v. Song, 2016 IL App (1st) 150614-B (Ill. App. Ct. 2016). “1” under the Securities Law (815 ILCS 5/2.1 (West 2012)) and that defendants violated multiple sections of the state statute by “conceal[ing] material facts regarding AMB and AMB stock” with the “intent that [p]laintiffs rely thereon in determining whether to make the investment.”
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