Ill. Admin. Code tit. 38 § 1075.660

Current through Register Vol. 48, No. 45, November 8, 2024

Section 1075.660 - Disclosure to Service Corporation

a) Service corporations shall require as a condition of any contract, loan, joint venture agreement or partnership agreement, that the party entering into such relationship with the service corporation disclose the names and true identity:

1) in the case of trusts, owners of beneficial interests of said trusts;

2) in the case of corporations, the names and addresses of all shareholders owning 10 percent or more of the capital stock; and

3) in the case of partnerships, a list of names and addresses of all partners.

b) Such disclosure shall be certified by the respective trustee, secretary or general partner. This certification shall become a permanent part of the file of each such contract, loan, joint venture or partnership agreement.

Ill. Admin. Code tit. 38, § 1075.660