Illinois Administrative Code
Title 50 - INSURANCE
Part 907 - EXEMPT SALE OF INSURANCE COMPANY SHARES
Section 907.60 - Dealer Trading
Universal Citation: 50 IL Admin Code ยง 907.60
Current through Register Vol. 48, No. 12, March 22, 2024
a) The sale by a dealer, either as principal or agent, of any such shares at a price reasonably related to the current market price of such shares shall be exempt.
b) The exemption provided in this Section shall apply only if the sale is made in good faith and not for the purpose of avoiding any of the provisions of Section 147.1 of the Illinois Insurance Code, and only if such sale is not made for the direct or indirect benefits of the issuer of the shares, or a controlling person in respect of such issuer (unless the sale is pursuant to Section 147.1(3) (c) or Section 907.50 of this Part.
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