Andre Stolz is alone in fifth at 13-under par, followed by Jimmy Green, who is in sixth place at minus-12 after a round of 6-under 66 on Saturday.
Points flew out of the gate Saturday. He two-putted the par-5 first hole for a birdie and made it two in a row after a beautiful 9-iron approach at the second. Points completed the hat trick of birdies at the third when he sank a 30-footer.
He missed the green with his second at the par-5 fifth but chipped to two feet and tapped in the birdie putt. Points hit a spectacular 6-iron at the par-four seventh that finished a foot from the hole. He finished the front nine with a 5-under-par 31.
Points drained another long birdie putt, a 25-footer at the 12th. He birdied the par-5 14th then holed a six-foot birdie putt at the 16th to match the course record at The Glen Club.
'I probably hit it better the first two days than I did today, but I made a few more putts today,' said Points, who will look for his second win on the Nationwide Tour. 'The greens roll just about as good as humanly possible.'
Points, who played collegiately at the University of Illinois, competed in front of several family members and friends on his record-tying Saturday.
'There are so many friends that I haven't seen in forever here this week watching me play,' said Points, a three-time Illinois State Amateur Champion. 'To be playing well in front of all of them is fantastic.'
Tolles started well on Saturday, as he ran home a 40-foot eagle putt at one and a four-foot birdie putt at the second. He dropped a shot at the third hole but closed his front nine with a pair of birdies in his last three holes.
Tolles tallied birdies at 13 and 14 but missed some opportunities later in the round. He missed a five-foot birdie chance at 15 and an eight-footer at the 16th. Tolles three-putted the 204-yard, par-3 17th but closed out his round in style.
At the par-5 18th, Tolles knocked a 2-iron into a greenside bunker. He blasted out to two feet and converted the birdie opportunity to tie Points atop the leaderboard.
'It is always nice to start a round that way,' said Tolles. 'But my putter has carried me the whole way, so it is disappointing to miss short ones like I did on Nos. 15, 16 and 17.'
Tolles has put himself in a position for win No. 3 on the Nationwide Tour but his first since 1994.
'I'm pretty excited,' said Tolles, a member of the PGA Tour from 1995-2002. 'It has been a long time since I've been in the last group. It doesn't matter whether you're playing on the Hooters Tour, Nationwide Tour, PGA Tour or the European Tour, when you get in the hunt you want to go for the kill.'
David Branshaw and Wes Short are tied for seventh place at 11-under-par 205, while Mike Brisky, Ty Armstrong and Vaughn Taylor share ninth at 10-under-par 206.