Sec. 179E-45. Capitalization.
75 words·~1 min read·
/il/chapter-215/act-5/179e-45A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 179E-45. Capitalization. An SPRV must have minimum initial capital of not less than $5,000. All of the initial capital must be received by the SPRV in cash. The minimum initial capital required and all other funds of the SPRV in excess of its minimum initial capital, including funds held in trust to secure the obligations of the SPRV pursuant to its obligations under the SPRV contracts, shall be invested as provided in Section 179E-85.