Section 1450.110  Sponsor Cards

 

a)         Leasing Agent 

 

1)         Except for a person working under a 120 day leasing agent permit as provided in Section 1450.240, no leasing agent license applicant may engage in the activities of a licensed leasing agent until a valid sponsor card has been issued to the applicant.

 

2)         A sponsoring broker shall prepare, upon forms provided by the Division, and deliver to each leasing agent employed by the broker a sponsor card certifying that the person whose name appears on the card is in fact employed by that broker, and that the applicant has not practiced under a 120 day leasing agent permit for more than 120 days.

 

3)         A sponsor card properly issued pursuant to this Section shall serve as a temporary permit allowing the sponsored individual to engage in practice as a leasing agent until the applicant is issued a leasing agent license. An applicant may practice under a sponsor card temporary permit for a maximum of 45 days.

 

4)         A sponsoring broker may issue a sponsor card to an individual only in the following circumstances:

 

A)        upon presentation of a leasing agent examination pass score report stating that the broker may issue a sponsor card; or

 

B)        upon presentation of an original leasing agent license that is endorsed by the broker by whom the leasing agent was previously employed; or

 

C)        upon presentation of a license expired for less than 2 years.

 

5)         The sponsoring broker shall, within 24 hours after issuance of the sponsor card, submit the following to the Division by regular mail or a signature restricted delivery service determined appropriate by the sponsoring broker. 

 

A)        For applicants for an initial leasing agent license:

 

i)          a copy of the sponsor card and transcript, if applicable;

 

ii)         a leasing agent examination pass score report stating that the broker may issue a sponsor card;

 

iii)        a leasing agent license application that is signed by the applicant and on which all questions have been answered; and

 

iv)        the license application fee required by Section 1450.130.

 

B)        For persons already holding a leasing agent license:

 

i)          a copy of the sponsor card; and

 

ii)         the properly endorsed leasing agent license and pocket card of the sponsored licensee.

 

6)         A sponsoring broker issuing a sponsor card shall retain a copy of the sponsor card until such time as the leasing agent license is received and properly displayed pursuant to Section 1450.730.

 

b)         Salesperson, Broker and Managing Broker

 

1)         A properly issued sponsor card shall serve as a temporary permit allowing the sponsored individual to engage in the practice of real estate for a maximum of 45 days only for the sponsoring broker named on the sponsor card.

 

2)         The sponsoring broker shall issue a sponsor card to an individual only in the following instances:

 

A)        Upon presentation of a real estate examination pass score report stating that the sponsoring broker may issue a sponsor card;

 

B)        Upon presentation of an original license endorsed by the sponsoring broker by whom the licensee was previously employed or with whom the licensee was previously associated; or

 

C)        Upon presentation of a license expired for less than 2 years.

 

3)         Upon issuance of a sponsor card, the issuing sponsoring broker shall, within 24 hours after issuance, submit the following to the Division by regular mail or a signature restricted delivery service determined appropriate by the sponsoring broker:

 

A)        For Licensees

 

i)          a copy of the sponsor card and transcript, if applicable;

 

ii)         appropriate sponsor card fee as set forth in Section 1450.130; and

 

iii)        one of the following:

 

•     the properly endorsed real estate license and pocket card of the sponsored licensee; or

 

•     an expired license of the sponsored licensee along with the fee required by Section 1450.130 and proof of education, if applicable, as required by Section 5-50 of the Act; or

 

•     the pocket card of the licensee and a sworn statement by the licensee explaining why the license is not submitted; or

 

•     if neither the license nor pocket card is available, the status of the license as verified by the Director or his or her designee.

 

B)        For Salesperson, Broker and Managing Broker Applicants

 

i)          a copy of the sponsor card and transcript, if applicable;

 

ii)         a real estate pass score report stating that the sponsoring broker may issue a sponsor card; and

 

iii)        other documentation as required by Section 1450.320, 1450.430 and 1450.520.

 

C)        Should an applicant be found not to have completed all the requirements, the applicant's sponsor card shall be void, the applicant shall be considered to have never been authorized to practice, and the applicant shall be subject to disciplinary action in accordance with Section 20-20 of the Act and Section 1450.900 of this Part.

 

4)         A licensed real estate broker, prior to May 1, 2012, or a managing broker may practice as a sole proprietor, partnership, corporation or limited liability company provided that, prior to doing business, the broker complies with the licensing requirements for partnerships, corporations or limited liability companies set forth in Section 1450.600 and submits the following to the Division by regular mail or a signature restricted delivery service:

 

A)        a copy of the sponsor card issued to himself or herself;

 

B)        the appropriate sponsor card fee required by Section 1450.130; and

 

C)        one of the following:

 

i)          Prior to May 1, 2012, his or her properly endorsed real estate broker or managing broker license and pocket card.   After April 30, 2012, his or her managing broker license and pocket card; or

 

ii)         Prior to May 1, 2012, an expired broker license, or, after April 30, 2012, an expired managing broker license along with the fee required by Section 1450.130 and proof of education, if applicable, as required by Section 5-50 of the Act; or

 

iii)        the pocket card and a sworn statement by the licensee explaining why the license is not submitted.  If neither the license nor the pocket card is available, the status of the license shall be verified by the Director or his or her designee; or

 

iv)        a completed consent to audit and examine special accounts form if one is not already on file.

 

5)         The Division shall, within 30 days after receipt of the sponsor card, appropriate fees and appropriate documentation, issue a license to the sponsored licensee or notify the applicant why the license cannot be issued.

 

6)         Expiration of the Sponsor Card. A sponsor card shall be valid for a period of 45 days from issue date unless extended for an additional 45 days by the Division for good cause.

 

A)        Good cause shall be limited to those instances in which the Division has unnecessarily delayed the processing of a license.

 

B)        The request for extension shall be considered granted only upon written notice from the Division.

 

7)         The sponsoring broker shall retain a copy of the sponsor card until the license is received.

 

8)         Upon termination of a licensee, a sponsoring broker shall immediately:

 

A)        Endorse the licensee's license as provided for on that document;

 

B)        Submit a photocopy of the endorsed license to the Division within 2 business days after termination by regular mail or a signature restricted delivery service determined appropriate by the sponsoring broker;

 

C)        Retain a copy of the endorsed license at least until the expiration date printed on that license; and

 

D)        Give the original endorsed license to the licensee.

 

9)         Once a license has been endorsed, the licensee is prohibited from practicing real estate until the licensee is issued a properly completed sponsor card.

 

10)          Each licensee shall carry either a properly issued sponsor card or a valid pocket card at all times and shall display same upon demand.