Ill. Admin. Code tit. 14 § 130.241

Current through Register Vol. 48, No. 49, December 6, 2024

Section 130.241 - Definition of the Term "Institutional Investor" under Sections 4C and 4D of the Act

The term institutional investor shall include, but not be limited to:

a) investment companies, universities, and other organizations whose primary purpose is to invest its own assets or those held in trust by it for others;

b) trust accounts and individual or group retirement accounts in which a bank, trust company, insurance company or savings and loan institution acts in a fiduciary capacity; and

c) foundations and endowment funds exempt from taxation under the Internal Revenue Code, a principal business function of which is to invest funds to produce income in order to carry out the purpose of the foundation or fund.

Ill. Admin. Code tit. 14, § 130.241