ILCS » Chapter 815 · Act 5
Illinois Compiled Statutes

815 ILCS 5/2.7 (2026)

"Dealer" means any person, other than a salesperson, or controlling person and other than a bank organized under the banking laws of this State or of the United States or other than a trust company organized under the laws of this State or other than a regular employee of such bank or trust company, who engages in this State, either for all or part of his or her time, directly or indirectly, as agent, broker or principal, in the business of offering, selling, buying and selling, or otherwise dealing or trading in securities issued by another person, any government or political subdivision or instrumentality thereof

✓ current as of May 2026
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(815 ILCS 5/2.7) (from Ch. 121 1/2, par. 137.2-7)
    Sec. 2.7. "Dealer" means any person, other than a salesperson, or controlling person and other than a bank organized under the banking laws of this State or of the United States or other than a trust company organized under the laws of this State or other than a regular employee of such bank or trust company, who engages in this State, either for all or part of his or her time, directly or indirectly, as agent, broker or principal, in the business of offering, selling, buying and selling, or otherwise dealing or trading in securities issued by another person, any government or political subdivision or instrumentality thereof.
(Source: P.A. 86-368.)

    
Notes of Decisions
Cited in 3 cases, 1993–2002 · leading case: A.G. Edwards, Inc. v. Sec'y of State, 772 N.E.2d 362 (Ill. App. Ct. 2002).
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A.G. Edwards, Inc. v. Sec'y of State, 772 N.E.2d 362 (Ill. App. Ct. 2002). “) 815 ILCS 5/2.7 (West 2000). We note that neither the plain language of the statutes nor the administrative regulation states that salespersons must preserve their personal checkbooks, bank statements, canceled checks, or cash reconciliations or that respondent would be able to…”
Wanless v. Burke, 625 N.E.2d 386 (Ill. App. Ct. 1993). “815ILCS 5/2.7 (West 1992). In either event, Underhill would be liable to the plaintiff because it would come within the first class of persons held liable under the statute.”
A.G. Edwards Inc. v. Sec'y of State (Ill. App. Ct. 2002). “) 815 ILCS 5/2.7 (West 2000). We note that neither the plain language of the statutes nor the administrative regulation states that salespersons must preserve their personal checkbooks, bank statements, canceled checks, or cash reconciliations or that respondent would be able to…”
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