Illinois Compiled Statutes
815 ILCS 5/2.5 (2026)
"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
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(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. Any security given with or as a
bonus on account of any purchase of securities or property shall be
conclusively presumed to constitute a part of the subject of such
purchase and shall be deemed to have been sold within the meaning of
this Section. A privilege to convert a security into another security
shall not be deemed a sale of such other security, provided no
consideration from the holder in addition to the surrender or cancellation
of the convertible security is required to effect the conversion.
(Source: P.A. 84-869.)
Notes of Decisions
Cited in 2
cases, 2000–2000 · leading case: Aste v. Metro. Life Ins., 728 N.E.2d 629 (Ill. App. Ct. 1st Dist. 2000).
Aste v. Metro. Life Ins., 728 N.E.2d 629 (Ill. App. Ct. 1st Dist. 2000). “” 815 ILCS 5/2.5 (West 1992). 2 Not adopted in Illinois.”
Aste v. Metro. Life Ins. Co., No. 1-99-2574 (Ill. App. Ct. 1st Dist. Mar. 28, 2000). “" 815 ILCS 5/2.5 (West 1992). 2: Not adopted in Illinois.”
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