Sec. 70. Exemption from securities laws.
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/il/chapter-805/act-317/70A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 70. Exemption from securities laws. Any interest, patronage refund, per unit retain certificate, or evidence of membership issued or sold by a limited worker cooperative association is exempt from the registration requirements of the Illinois Securities Law of 1953. Such interests, patronage refunds, per unit retain certificates, or evidence of membership may be sold lawfully by the issuer or its members or salaried employees without the necessity of being registered as a broker or dealer under the Illinois Securities Law of 1953.