{"data":{"id":"us-il/815-ilcs-5-2.12b","jurisdiction":"us-il","citation":"815 ILCS 5/2.12b","heading":"Investment adviser representative.","body":"\"Investment adviser representative\" means, with respect to an investment adviser who is required to register under this Act, any partner, officer, director of (or a person occupying a similar status or performing similar functions), or other natural person employed by or associated with an investment adviser, except clerical or ministerial personnel, who in this State:\n(1) makes any recommendations or otherwise renders advice regarding securities or investment products;\n(2) manages accounts or portfolios of clients;\n(3) determines what recommendation or advice regarding securities or investments should be given;\n(4) supervises any employee who performs any of the foregoing; or\n(5) solicits, refers, offers, or negotiates for the sale of, or sells, investment advisory services.\nWith respect to a federal covered investment adviser, \"investment adviser representative\" means any person who is an investment adviser representative with a place of business in this State as such terms are defined by the Securities and Exchange Commission under Section 203A of the Federal 1940 Investment Advisers Act.","path":["CHAPTER 815 BUSINESS TRANSACTIONS","Illinois Securities Law of 1953."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2304\u0026ChapterID=67\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"ed1bbf59e23175d3cbca2faa6281de0d53cdef0a7c07841cbbc4ce900702374a","source_id":"us-il","stale":false,"prev":"us-il/815-ilcs-5-2.12a","next":"us-il/815-ilcs-5-2.12c"},"notice":"GroundRules: Original legal text. Not legal advice."}