Skip to main content
Find a Lawyer

Illinois Statutes Chapter 30. Finance § 540/9. Vendor Payment Program financial backer disclosure

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 9. Vendor Payment Program financial backer disclosure.

(a) Within 60 days after August 24, 2018 (the effective date of Public Act 100-1089), at the time of application, and annually on August 1 of each year for the previous fiscal year, each qualified purchaser shall submit to the Department and the State Comptroller the following information about each person, director, owner, officer, association, financial backer, partnership, other entity, corporation, or trust with an indirect or direct financial interest in each qualified purchaser:

(1) percent ownership;

(2) type of ownership;

(3) first name, middle name, last name, maiden name (if applicable), including aliases or former names;

(4) mailing address;

(5) type of business entity, if applicable;

(6) dates and jurisdiction of business formation or incorporation, if applicable;

(7) names of controlling shareholders, class of stock, percentage ownership;

(8) any indirect earnings resulting from the Program; and

(9) any earnings associated with the Program to any parties not previously disclosed.

(b) Within 60 days after August 24, 2018 (the effective date of Public Act 100-1089), at the time of application, and annually on August 1 of each year for the previous fiscal year, each trust associated with the qualified purchaser shall submit to the Department and the State Comptroller the following information:

(1) names, addresses, dates of birth, and percentages of interest of all beneficiaries;

(2) any indirect earnings resulting from the Program; and

(3) any earnings associated with the Program to any parties not previously disclosed.

(c) Each qualified purchaser must submit a statement to the State Comptroller and the Department of Central Management Services disclosing whether such qualified purchaser or any related person, director, owner, officer, or financial backer has previously or currently retained or contracted with any registered lobbyist, lawyer, accountant, or other consultant to prepare the disclosure required under this Section.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Illinois Statutes Chapter 30. Finance § 540/9. Vendor Payment Program financial backer disclosure - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-30-finance/il-st-sect-30-540-9/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard