Illinois · statute of limitations

Statute of Limitations for Securities Fraud (state Blue Sky laws) in Illinois

By DocketMath TeamUpdated July 8, 20262 min read
Statute of Limitations for Securities Fraud (state Blue Sky laws) in Illinois
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How the limitation period applies

The controlling primary authority for US-IL securities fraud state blue sky laws SOL is 815 ILCS 5/13(D). The limitation period is 3 years.

815 ILCS 5/13(D). D. No action shall be brought for relief under this Section or upon or because of any of the matters for which relief is granted by this Section after 3 years from the date of sale; provided, that if the party bringing the action neither knew nor in the exercise of reasonable diligence should have known of any alleged violation of subsection E, F, G, H, I or J of Section 12 of this Act which is the basis for the action, the 3 year period provided herein shall begin to run upon the earlier of: (1) the date upon which the party bringing the action has actual knowledge of the alleged violation of this Act; or (2) the date upon which the party bringing the action has notice of facts which in the exercise of reasonable diligence would lead to actual knowledge of the alleged violation of this Act.

Use the calculator

DocketMath's statute-of-limitations tool can model these timelines once you identify the controlling claim type and accrual date. Use the source panel for the verified primary-source citations.

Open the Statute of Limitations calculator

Sources

All sources are official primary law published by www.ilga.gov.

Corroboration method: government_primary_source_direct_fetch.


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