Ill. Admin. Code tit. 14, § 130.630 - Renewal of Registration of Face Amount Certificate Contracts Under Section 6.F of the Act

a) An issuer, controlling person or registered dealer shall file an application for renewal of registration of part or all of the face amount certificate contracts that remain unsold by filing with the Securities Department, no later than 10 business days prior to the date upon which the registration under Section 6.A of the Act or renewal under Section 6.F of the Act would expire, on Form U-1 executed by an officer of the issuer, controlling person or registered dealer and pay the fee set forth in Section 130.110. The application shall be accompanied by one copy of the prospectus in its most current form.

b) Any application for renewal of registration of face amount certificate contracts filed with or fee paid to the Securities Department within nine business days or less but prior to the date upon which the registration or renewal would expire shall pay an additional fee set forth in Section 130.110.

c) Any application for renewal of face amount certificate contracts filed with, or fee paid to, the Securities Department on or after the date upon which the registration would expire shall pay an additional fee set forth in Section 130.110 until the application is filed and the renewal fee and all late fees are paid.

d) The renewal of the registration under subsection (a), (b) or (c) of this Section shall take effect on the date that the prior registration or renewal expired.

e) No application for renewal of face amount certificate contracts shall be deemed to be filed or take effect if the application, renewal fee or additional fee was filed with or paid to the Securities Department more than one year after the most recent expiration of the registration or renewal of the registration.

f) Prior to the renewal of any registration or renewal, the issuer, controlling person or registered dealer shall file with the Securities Department the name of at least one registered dealer that will be offering or selling the face amount certificate contracts or file an application for registration on Form U4 or renewal on Form 8C(1) for at least one salesperson that the Securities Department will grant registration of, or renewal of registration of, concurrently with the renewal of the registration or renewal of the face amount certificate contracts and pay to the Securities Department the fee and additional fee, if any, set forth in Section 130.110.

Notes

Ill. Admin. Code tit. 14, § 130.630

Amended at 36 Ill. Reg. 2852, effective February 8, 2012