ILCS » Chapter 815 · Act 5
Illinois Compiled Statutes

815 ILCS 5/2.6 (2026)

"Underwriter" means any person who has purchased a security from an issuer or a controlling person with a view to, or who offers or sells a security for an issuer or a controlling person in connection with, the distribution thereof, or who participates or has a participation in the direct or indirect underwriting of such distribution; but such term shall not include a person whose interest is limited to a commission or discount from an underwriter or dealer not in excess of the usual and customary distributors' or sellers' commission or discount

✓ current as of May 2026
Find cases: SyfertCases citing this section IL-ILGAilga.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar
(815 ILCS 5/2.6) (from Ch. 121 1/2, par. 137.2-6)
    Sec. 2.6. "Underwriter" means any person who has purchased a security from an issuer or a controlling person with a view to, or who offers or sells a security for an issuer or a controlling person in connection with, the distribution thereof, or who participates or has a participation in the direct or indirect underwriting of such distribution; but such term shall not include a person whose interest is limited to a commission or discount from an underwriter or dealer not in excess of the usual and customary distributors' or sellers' commission or discount. An underwriter shall be deemed to be no longer an underwriter of a security after he or she has completely disposed of his or her allotment of such security or, if he or she did not purchase the security, after he or she has ceased to offer and sell such security for the issuer or controlling person.
(Source: P.A. 84-869.)

    
Notes of Decisions
Cited in 1 case, 1993–1993 · leading case: Wanless v. Burke, 625 N.E.2d 386 (Ill. App. Ct. 1993).
Sort: Relevance Newest Treatment
Wanless v. Burke, 625 N.E.2d 386 (Ill. App. Ct. 1993). “(815 ILCS 5/2.6 (West 1992).) A “dealer” is a person or corporation who is in the business of offering, selling, buying and selling, or otherwise dealing in securities issued by another person.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.