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| Public Act 098-0531
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| SB1655 Enrolled | LRB098 06406 DRJ 40611 b |
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Real Estate License Act of 2000 is amended |
by changing Sections 1-10, 5-27, 5-28, 5-50, 5-70, and 10-25 as |
follows:
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(225 ILCS 454/1-10)
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(Section scheduled to be repealed on January 1, 2020)
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Sec. 1-10. Definitions. In this Act, unless the context |
otherwise requires:
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"Act" means the Real Estate License Act of 2000.
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"Address of Record" means the designated address recorded |
by the Department in the applicant's or licensee's application |
file or license file as maintained by the Department's |
licensure maintenance unit. It is the duty of the applicant or |
licensee to inform the Department of any change of address, and |
those changes must be made either through the Department's |
website or by contacting the Department. |
"Advisory Council" means the Real Estate Education |
Advisory Council created
under Section 30-10 of this Act.
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"Agency" means a relationship in which a real estate broker |
or licensee,
whether directly or through an affiliated |
licensee, represents a consumer by
the consumer's consent, |
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whether express or implied, in a real property
transaction.
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"Applicant" means any person, as defined in this Section, |
who applies to
the Department for a valid license as a real |
estate broker, real estate salesperson, or
leasing agent.
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"Blind advertisement" means any real estate advertisement |
that does not
include the sponsoring broker's business name and |
that is used by any licensee
regarding the sale or lease of |
real estate, including his or her own, licensed
activities, or |
the hiring of any licensee under this Act. The broker's
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business name in the case of a franchise shall include the |
franchise
affiliation as well as the name of the individual |
firm.
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"Board" means the Real Estate Administration and |
Disciplinary Board of the Department as created by Section |
25-10 of this Act.
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"Branch office" means a sponsoring broker's office other |
than the sponsoring
broker's principal office.
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"Broker" means an individual, partnership, limited |
liability company,
corporation, or registered limited |
liability partnership other than a real
estate salesperson or |
leasing agent who, whether in person or through any media or |
technology, for another and for compensation, or
with the |
intention or expectation of receiving compensation, either
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directly or indirectly:
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(1) Sells, exchanges, purchases, rents, or leases real |
estate.
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(2) Offers to sell, exchange, purchase, rent, or lease |
real estate.
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(3) Negotiates, offers, attempts, or agrees to |
negotiate the sale,
exchange, purchase, rental, or leasing |
of real estate.
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(4) Lists, offers, attempts, or agrees to list real |
estate for sale,
lease, or exchange.
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(5) Buys, sells, offers to buy or sell, or otherwise |
deals in options on
real estate or improvements thereon.
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(6) Supervises the collection, offer, attempt, or |
agreement
to collect rent for the use of real estate.
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(7) Advertises or represents himself or herself as |
being engaged in the
business of buying, selling, |
exchanging, renting, or leasing real estate.
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(8) Assists or directs in procuring or referring of |
leads or prospects, intended to
result in the sale, |
exchange, lease, or rental of real estate.
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(9) Assists or directs in the negotiation of any |
transaction intended to
result in the sale, exchange, |
lease, or rental of real estate.
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(10) Opens real estate to the public for marketing |
purposes.
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(11) Sells, leases, or offers for sale or lease real |
estate at
auction.
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"Brokerage agreement" means a written or oral agreement |
between a sponsoring
broker and a consumer for licensed |
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activities to be provided to a consumer in
return for |
compensation or the right to receive compensation from another.
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Brokerage agreements may constitute either a bilateral or a |
unilateral
agreement between the broker and the broker's client |
depending upon the content
of the brokerage agreement. All |
exclusive brokerage agreements shall be in
writing.
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"Client" means a person who is being represented by a |
licensee.
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"Compensation" means the valuable consideration given by |
one person or entity
to another person or entity in exchange |
for the performance of some activity or
service. Compensation |
shall include the transfer of valuable consideration,
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including without limitation the following:
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(1) commissions;
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(2) referral fees;
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(3) bonuses;
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(4) prizes;
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(5) merchandise;
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(6) finder fees;
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(7) performance of services;
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(8) coupons or gift certificates;
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(9) discounts;
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(10) rebates;
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(11) a chance to win a raffle, drawing, lottery, or |
similar game of chance
not prohibited by any other law or |
statute;
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(12) retainer fee; or
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(13) salary.
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"Confidential information" means information obtained by a |
licensee from a
client during the term of a brokerage agreement |
that (i) was made confidential
by the written request or |
written instruction of the client, (ii) deals with
the |
negotiating position of the client, or (iii) is information the |
disclosure
of which could materially harm the negotiating |
position of the client, unless
at any time:
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(1) the client permits the disclosure of information |
given by that client
by word or conduct;
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(2) the disclosure is required by law; or
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(3) the information becomes public from a source other |
than the licensee.
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"Confidential information" shall not be considered to |
include material
information about the physical condition of |
the property.
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"Consumer" means a person or entity seeking or receiving |
licensed
activities.
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"Continuing education school" means any person licensed by |
the Department as a school
for continuing education in |
accordance with Section 30-15 of this Act. |
"Coordinator" means the Coordinator of Real Estate created |
in Section 25-15 of this Act.
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"Credit hour" means 50 minutes of classroom instruction in |
course work that
meets the requirements set forth in rules |
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adopted by the Department.
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"Customer" means a consumer who is not being represented by |
the licensee but
for whom the licensee is performing |
ministerial acts.
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"Department" means the Department of Financial and |
Professional Regulation. |
"Designated agency" means a contractual relationship |
between a sponsoring
broker and a client under Section 15-50 of |
this Act in which one or more
licensees associated with or |
employed by the broker are designated as agent of
the client.
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"Designated agent" means a sponsored licensee named by a |
sponsoring broker as
the legal agent of a client, as provided |
for in Section 15-50 of this Act.
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"Dual agency" means an agency relationship in which a |
licensee is
representing both buyer and seller or both landlord |
and tenant in the same
transaction. When the agency |
relationship is a designated agency, the
question of whether |
there is a dual agency shall be determined by the agency
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relationships of the designated agent of the parties and not of |
the sponsoring
broker.
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"Employee" or other derivative of the word "employee", when |
used to refer to,
describe, or delineate the relationship |
between a real estate broker and a real
estate salesperson, |
another real estate broker, or a leasing agent, shall be
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construed to include an independent contractor relationship, |
provided that a
written agreement exists that clearly |
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establishes and states the relationship.
All responsibilities |
of a broker shall remain.
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"Escrow moneys" means all moneys, promissory notes or any |
other type or
manner of legal tender or financial consideration |
deposited with any person for
the benefit of the parties to the |
transaction. A transaction exists once an
agreement has been |
reached and an accepted real estate contract signed or lease
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agreed to by the parties. Escrow moneys includes without |
limitation earnest
moneys and security deposits, except those |
security deposits in which the
person holding the security |
deposit is also the sole owner of the property
being leased and |
for which the security deposit is being held.
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"Electronic means of proctoring" means a methodology |
providing assurance that the person taking a test and |
completing the answers to questions is the person seeking |
licensure or credit for continuing education and is doing so |
without the aid of a third party or other device. |
"Exclusive brokerage agreement" means a written brokerage |
agreement that provides that the sponsoring broker has the sole |
right, through one or more sponsored licensees, to act as the |
exclusive designated agent or representative of the client and |
that meets the requirements of Section 15-75 of this Act.
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"Inoperative" means a status of licensure where the |
licensee holds a current
license under this Act, but the |
licensee is prohibited from engaging in
licensed activities |
because the licensee is unsponsored or the license of the
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sponsoring broker with whom the licensee is associated or by |
whom he or she is
employed is currently expired, revoked, |
suspended, or otherwise rendered
invalid under this Act.
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"Interactive delivery method" means delivery of a course by |
an instructor through a medium allowing for 2-way communication |
between the instructor and a student in which either can |
initiate or respond to questions. |
"Leads" means the name or names of a potential buyer, |
seller, lessor, lessee, or client of a licensee. |
"Leasing Agent" means a person who is employed by a real |
estate broker to
engage in licensed activities limited to |
leasing residential real estate who
has obtained a license as |
provided for in Section 5-5 of this Act.
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"License" means the document issued by the Department |
certifying that the person named
thereon has fulfilled all |
requirements prerequisite to licensure under this
Act.
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"Licensed activities" means those activities listed in the |
definition of
"broker" under this Section.
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"Licensee" means any person, as defined in this Section, |
who holds a
valid unexpired license as a real estate broker, |
real estate salesperson, or
leasing agent.
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"Listing presentation" means a communication between a |
real estate broker or
salesperson and a consumer in which the |
licensee is attempting to secure a
brokerage agreement with the |
consumer to market the consumer's real estate for
sale or |
lease.
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"Managing broker" means a broker who has supervisory |
responsibilities for
licensees in one or, in the case of a |
multi-office company, more than one
office and who has been |
appointed as such by the sponsoring broker.
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"Medium of advertising" means any method of communication |
intended to
influence the general public to use or purchase a |
particular good or service or
real estate.
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"Ministerial acts" means those acts that a licensee may |
perform for a
consumer that are informative or clerical in |
nature and do not rise to the
level of active representation on |
behalf of a consumer. Examples of these acts
include without |
limitation (i) responding to phone inquiries by consumers as to
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the availability and pricing of brokerage services, (ii) |
responding to phone
inquiries from a consumer concerning the |
price or location of property, (iii)
attending an open house |
and responding to questions about the property from a
consumer, |
(iv) setting an appointment to view property, (v) responding to
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questions of consumers walking into a licensee's office |
concerning brokerage
services offered or particular |
properties, (vi) accompanying an appraiser,
inspector, |
contractor, or similar third party on a visit to a property, |
(vii)
describing a property or the property's condition in |
response to a consumer's
inquiry, (viii) completing business or |
factual information for a consumer on an
offer or contract to |
purchase on behalf of a client, (ix) showing a client
through a |
property being sold by an owner on his or her own behalf, or |
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(x)
referral to another broker or service provider.
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"Office" means a real estate broker's place of business |
where the general
public is invited to transact business and |
where records may be maintained and
licenses displayed, whether |
or not it is the broker's principal place of
business.
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"Person" means and includes individuals, entities, |
corporations, limited
liability companies, registered limited |
liability partnerships, and
partnerships, foreign or domestic, |
except that when the context otherwise
requires, the term may |
refer to a single individual or other described entity.
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"Personal assistant" means a licensed or unlicensed person |
who has been hired
for the purpose of aiding or assisting a |
sponsored licensee in the performance
of the sponsored |
licensee's job.
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"Pocket card" means the card issued by the Department to |
signify that the person named
on the card is currently licensed |
under this Act.
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"Pre-license school" means a school licensed by the |
Department offering courses in
subjects related to real estate |
transactions, including the subjects upon
which an applicant is |
examined in determining fitness to receive a license.
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"Pre-renewal period" means the period between the date of |
issue of a
currently valid license and the license's expiration |
date.
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"Proctor" means any person, including, but not limited to, |
an instructor, who has a written agreement to administer |
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examinations fairly and impartially with a licensed |
pre-license school or a licensed continuing education school. |
"Real estate" means and includes leaseholds as well as any |
other interest or
estate in land, whether corporeal, |
incorporeal, freehold, or non-freehold,
including timeshare |
interests, and whether the real estate is situated in this
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State or elsewhere.
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"Regular employee" means a person working an average of 20 |
hours per week for a person or entity who would be considered |
as an employee under the Internal Revenue Service eleven main |
tests in three categories being behavioral control, financial |
control and the type of relationship of the parties, formerly |
the twenty factor test.
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"Salesperson" means any individual, other than a real |
estate broker or
leasing agent, who is employed by a real |
estate broker or is associated by
written agreement with a real |
estate broker as an independent contractor and
participates in |
any activity described in the definition of "broker" under this
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Section.
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"Secretary" means the Secretary of the Department of |
Financial and Professional Regulation, or a person authorized |
by the Secretary to act in the Secretary's stead. |
"Sponsoring broker" means the broker who has issued a |
sponsor card to a
licensed salesperson, another licensed |
broker, or a leasing agent.
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"Sponsor card" means the temporary permit issued by the |
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sponsoring real
estate broker certifying that the real estate |
broker, real estate salesperson,
or leasing agent named thereon |
is employed by or associated by written
agreement with the |
sponsoring real estate broker, as provided for in Section
5-40 |
of this Act.
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(Source: P.A. 96-856, eff. 12-31-09.)
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(225 ILCS 454/5-27) |
(Section scheduled to be repealed on January 1, 2020) |
Sec. 5-27. Requirements for licensure as a broker. |
(a) Every applicant for licensure as a broker must meet the |
following qualifications: |
(1) Be at least 21 years of age. After April 30, 2011, |
the minimum age of 21 years shall be waived for any person |
seeking a license as a broker who has attained the age of |
18 and can provide evidence of the successful completion of |
at least 4 semesters of post-secondary school study as a |
full-time student or the equivalent, with major emphasis on |
real estate courses, in a school approved by the |
Department; |
(2) Be of good moral character; |
(3) Successfully complete a 4-year course of study in a |
high school or secondary school approved by the Illinois |
State Board of Education or an equivalent course of study |
as determined by an examination conducted by the Illinois |
State Board of Education which shall be verified under oath |
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by the applicant; |
(4) Prior to May 1, 2011, provide (i) satisfactory |
evidence of having completed at least 120 classroom hours, |
45 of which shall be those hours required to obtain a |
salesperson's license plus 15 hours in brokerage |
administration courses, in real estate courses approved by |
the Advisory Council or (ii) for applicants who currently |
hold a valid real estate salesperson's license, give |
satisfactory evidence of having completed at least 75 hours |
in real estate courses, not including the courses that are |
required to obtain a salesperson's license, approved by the |
Advisory Council; |
(5) After April 30, 2011, provide satisfactory |
evidence of having completed 90 hours of instruction in |
real estate courses approved by the Advisory Council, 15 |
hours of which must consist of situational and case studies |
presented in the classroom or by other interactive delivery |
method presenting instruction and real time discussion |
between the instructor and the students; |
(6) Personally take and pass a written examination |
authorized by the Department; |
(7) Present a valid application for issuance of a |
license accompanied by a sponsor card and the fees |
specified by rule. |
(b) The requirements specified in items (4) and (5) of |
subsection (a) of this Section do not apply to applicants who |
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are currently admitted to practice law by the Supreme Court of |
Illinois and are currently in active standing. |
(c) No applicant shall engage in any of the activities |
covered by this Act until a valid sponsor card has been issued |
to such applicant. The sponsor card shall be valid for a |
maximum period of 45 days after the date of issuance unless |
extended for good cause as provided by rule. |
(d) All licenses should be readily available to the public |
at their place of business.
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(e) An individual holding an active license as a managing |
broker may return the license to the Department along with a |
form provided by the Department and shall be issued a broker's |
license in exchange. Any individual obtaining a broker's |
license under this subsection (e) shall be considered as having |
obtained a broker's license by education and passing the |
required test and shall be treated as such in determining |
compliance with this Act. |
(Source: P.A. 96-856, eff. 12-31-09.)
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(225 ILCS 454/5-28) |
(Section scheduled to be repealed on January 1, 2020) |
Sec. 5-28. Requirements for licensure as a managing broker. |
(a) Effective May 1, 2012, every applicant for licensure as |
a managing broker must meet the following qualifications: |
(1) be at least 21 years of age; |
(2) be of good moral character; |
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(3) have been licensed at least 2 out of the preceding |
3 years as a real estate broker or salesperson; |
(4) successfully complete a 4-year course of study in |
high school or secondary school approved by the Illinois |
State Board of Education or an equivalent course of study |
as determined by an examination conducted by the Illinois |
State Board of Education, which shall be verified under |
oath by the applicant; |
(5) provide satisfactory evidence of having completed |
at least 165 hours, 120 of which shall be those hours |
required pre and post-licensure to obtain a broker's |
license, and 45 additional hours completed within the year |
immediately preceding the filing of an application for a |
managing broker's license, which hours shall focus on |
brokerage administration and management and include at |
least 15 hours in the classroom or by other interactive |
delivery method presenting instructional and real time |
discussion between the instructor and the students; |
(6) personally take and pass a written examination |
authorized by the Department; and |
(7) present a valid application for issuance of a |
license accompanied by a sponsor card, an appointment as a |
managing broker, and the fees specified by rule. |
(b) The requirements specified in item (5) of subsection |
(a) of this Section do not apply to applicants who are |
currently admitted to practice law by the Supreme Court of |
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Illinois and are currently in active standing. |
(c) No applicant shall act as a managing broker for more |
than 90 days after an appointment as a managing broker has been |
filed with the Department without obtaining a managing broker's |
license.
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(Source: P.A. 96-856, eff. 12-31-09.)
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(225 ILCS 454/5-50)
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(Section scheduled to be repealed on January 1, 2020)
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Sec. 5-50. Expiration and renewal of managing broker, |
broker, salesperson, or
leasing agent license; sponsoring |
broker;
register of licensees; pocket card. |
(a) The expiration date and renewal period for each license |
issued under
this Act shall be set by
rule, except that the |
first renewal period ending after the effective date of this |
Act for those licensed as a salesperson shall be extended |
through April 30, 2012. Except as otherwise provided in this |
Section, the holder of
a
license may renew
the license within |
90 days preceding the expiration date thereof by completing the |
continuing education required by this Act and paying the
fees |
specified by
rule.
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(b) An individual whose first license is that of a broker |
received after April 30, 2011, must provide evidence of having |
completed 30 hours of post-license education in courses |
approved by the Advisory Council, 15 hours of which must |
consist of situational and case studies presented in the |
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classroom or by other interactive delivery method presenting |
instruction and real time discussion between the instructor and |
the students, and personally take and pass an examination |
approved by the Department prior to the first renewal of their |
broker's license.
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(c) Any salesperson until April 30, 2011 or any managing |
broker, broker, or leasing agent whose license under this Act |
has expired shall be eligible to renew the license during the |
2-year period following the expiration date, provided the |
managing broker, broker, salesperson, or leasing agent pays the |
fees as prescribed by rule and completes continuing education |
and other requirements provided for by the Act or by rule. |
Beginning on May 1, 2012, a managing broker licensee, broker, |
or leasing agent whose license has been expired for more than 2 |
years but less than 5 years may have it restored by (i) |
applying to the Department, (ii) paying the required fee, (iii) |
completing the continuing education requirements for the most |
recent pre-renewal period that ended prior to the date of the |
application for reinstatement, and (iv) filing acceptable |
proof of fitness to have his or her license restored, as set by |
rule. A managing broker, broker, or leasing agent whose license |
has been expired for more than 5 years shall be required to |
meet the requirements for a new license.
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(d) Notwithstanding any other provisions of this Act to the |
contrary, any managing broker, broker, salesperson, or leasing |
agent whose license expired while he or she was (i) on active |
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duty with the Armed Forces of the United States or called into |
service or training by the state militia, (ii) engaged in |
training or education under the supervision of the United |
States preliminary to induction into military service, or (iii) |
serving as the Coordinator of Real Estate in the State of |
Illinois or as an employee of the Department may have his or |
her license renewed, reinstated or restored without paying any |
lapsed renewal fees if within 2 years after the termination of |
the service, training or education by furnishing the Department |
with satisfactory evidence of service, training, or education |
and it has been terminated under honorable conditions. |
(e) The Department shall establish and
maintain a register |
of all persons currently licensed by the
State and shall issue |
and prescribe a form of pocket card. Upon payment by a licensee |
of the appropriate fee as prescribed by
rule for engagement in |
the activity for which the licensee is
qualified and holds a |
license for the current period, the
Department shall issue a |
pocket card to the licensee. The
pocket card shall be |
verification that the required fee for the
current period has |
been paid and shall indicate that the person named thereon is |
licensed for the current renewal period as a
managing broker, |
broker, salesperson, or leasing agent as the
case may be. The |
pocket card shall further indicate that the
person named |
thereon is authorized by the Department to
engage in the |
licensed activity appropriate for his or her
status (managing |
broker, broker, salesperson, or leasing
agent). Each licensee |
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shall carry on his or her person his or
her pocket card or, if |
such pocket card has not yet been
issued, a properly issued |
sponsor card when engaging in any
licensed activity and shall |
display the same on demand. |
(f) The Department shall provide to the sponsoring broker a |
notice of renewal for all sponsored licensees by mailing the |
notice to the sponsoring broker's address of record, or, at the |
Department's discretion, by an electronic means as provided for |
by rule. |
(g) Upon request from the sponsoring broker, the Department |
shall make available to the sponsoring broker, either by mail |
or by an electronic means at the discretion of the Department, |
a listing of licensees under this Act who, according to the |
records of the Department, are sponsored by that broker. Every |
licensee associated with or employed by a broker whose license |
is revoked, suspended, terminated, or expired shall be |
considered as inoperative until such time as the sponsoring |
broker's license is reinstated or renewed, or the licensee |
changes employment as set forth in subsection (c) of Section |
5-40 of this Act. |
(Source: P.A. 96-856, eff. 12-31-09; 96-989, eff. 1-1-11.)
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(225 ILCS 454/5-70)
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(Section scheduled to be repealed on January 1, 2020)
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Sec. 5-70. Continuing education requirement; managing |
broker, broker, or salesperson.
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(a) The requirements of this Section apply to all managing |
brokers, brokers, and salespersons.
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(b) Except as otherwise
provided in this Section, each
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person who applies for renewal of his or her license as a |
managing broker, real
estate broker, or real
estate salesperson |
must successfully complete 6 hours of real estate continuing |
education
courses approved by
the Advisory Council for each |
year of the pre-renewal period. Broker licensees must |
successfully complete a 6-hour broker management continuing |
education course approved by the Department for the pre-renewal |
period ending April 30, 2010. In addition, beginning with the |
pre-renewal period for managing broker licensees that begins |
after the effective date of this Act, those licensees renewing |
or obtaining a managing broker's license must successfully |
complete a 12-hour broker management continuing education |
course approved by the Department each pre-renewal period. The |
broker management continuing education course must be |
completed in the classroom or by other interactive delivery |
method presenting instruction and real time discussion between |
the instructor and the students. Successful completion of the |
course shall include achieving a passing score as provided by |
rule on a test developed and administered in accordance with |
rules adopted by the Department. No
license may be renewed
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except upon the successful completion of the required courses |
or their
equivalent or upon a waiver
of those requirements for |
good cause shown as determined by the Secretary
with the
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recommendation of the Advisory Council.
The requirements of |
this Article are applicable to all managing brokers, brokers, |
and salespersons
except those brokers
and salespersons who, |
during the pre-renewal period:
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(1) serve in the armed services of the United States;
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(2) serve as an elected State or federal official;
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(3) serve as a full-time employee of the Department; or
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(4) are admitted to practice law pursuant to Illinois |
Supreme Court rule.
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(c) A person licensed as a salesperson as of April 30, 2011 |
shall not be required to complete the 18 hours of continuing |
education for the pre-renewal period ending April 30, 2012 if |
that person takes the 30-hour post-licensing course to obtain a |
broker's license. A person licensed as a broker as of April 30, |
2011 shall not be required to complete the 12 hours of broker |
management continuing education for the pre-renewal period |
ending April 30, 2012, unless that person passes the |
proficiency exam provided for in Section 5-47 of this Act to |
qualify for a managing broker's license. |
(d) A
person receiving an initial license
during the 90 |
days before the renewal date shall not be
required to complete |
the continuing
education courses provided for in subsection (b) |
of this
Section as a condition of initial license renewal.
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(e) The continuing education requirement for salespersons, |
brokers and managing brokers shall
consist of a core
curriculum |
and an elective curriculum, to be established by the Advisory
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Council. In meeting the
continuing education requirements of |
this Act, at least 3 hours per year or
their equivalent, 6 |
hours for each two-year pre-renewal period, shall
be required |
to be completed in the core curriculum.
In establishing the |
core curriculum, the Advisory Council shall consider
subjects |
that will
educate licensees on recent changes in applicable |
laws and new laws and refresh
the licensee on areas
of the |
license law and the Department policy that the Advisory Council |
deems appropriate,
and any other
areas that the Advisory |
Council deems timely and applicable in order to prevent
|
violations of this Act
and to protect the public.
In |
establishing the elective curriculum, the Advisory Council |
shall consider
subjects that cover
the various aspects of the |
practice of real estate that are covered under the
scope of |
this Act.
However, the elective curriculum shall not include |
any offerings referred to in
Section 5-85 of this Act.
|
(f) The subject areas of continuing education courses |
approved by the
Advisory Council may
include without limitation |
the following:
|
(1) license law and escrow;
|
(2) antitrust;
|
(3) fair housing;
|
(4) agency;
|
(5) appraisal;
|
(6) property management;
|
(7) residential brokerage;
|
|
(8) farm property management;
|
(9) rights and duties of sellers, buyers, and brokers;
|
(10) commercial brokerage and leasing; and
|
(11) real estate financing.
|
(g) In lieu of credit for those courses listed in |
subsection (f) of this
Section, credit may be
earned for |
serving as a licensed instructor in an approved course of |
continuing
education. The
amount of credit earned for teaching |
a course shall be the amount of continuing
education credit for
|
which the course is approved for licensees taking the course.
|
(h) Credit hours may be earned for self-study programs |
approved by the
Advisory Council.
|
(i) A broker or salesperson may earn credit for a specific |
continuing
education course only
once during the prerenewal |
period.
|
(j) No more than 6 hours of continuing education credit may |
be taken or earned in one
calendar day.
|
(k) To promote the offering of a uniform and consistent |
course content, the Department may provide for the development |
of a single broker management course to be offered by all |
continuing education providers who choose to offer the broker |
management continuing education course. The Department may |
contract for the development of the 12-hour broker management |
continuing education course with an outside vendor or |
consultant and, if the course is developed in this manner, the |
Department or the outside consultant shall license the use of |
|
that course to all approved continuing education providers who |
wish to provide the course.
|
(l) Except as specifically provided in this Act, continuing |
education credit hours may not be earned for completion of pre |
or post-license courses. The approved 30-hour post-license |
course for broker licensees shall satisfy the continuing |
education requirement for the pre-renewal period in which the |
course is taken. The approved 45-hour brokerage administration |
and management course shall satisfy the 12-hour broker |
management continuing education requirement for the |
pre-renewal period in which the course is taken. |
(Source: P.A. 96-856, eff. 12-31-09; 97-1002, eff. 8-17-12.)
|
(225 ILCS 454/10-25)
|
(Section scheduled to be repealed on January 1, 2020)
|
Sec. 10-25. Expiration of brokerage agreement. No licensee |
shall obtain any written brokerage agreement that does not |
either provide
for automatic
expiration within a definite |
period of time or provide the client with a right to terminate |
the agreement annually by giving no more than 30 days' prior |
written notice. No notice of termination at the
final |
expiration thereof
shall be required. Any written brokerage |
agreement not containing such a provision
for automatic
|
expiration shall be void. When the license of any sponsoring |
broker is
suspended or revoked, any
brokerage agreement with |
the sponsoring broker shall be deemed to expire upon
the |
