TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VIII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1450 REAL ESTATE LICENSE ACT OF 2000
SECTION 1450.110 SPONSOR CARDS


 

Section 1450.110 Sponsor Cards

 

a) Leasing Agent

 

1) Except for an individual working under a leasing agent student permit as set forth in Section 1450.240, no leasing agent license applicant may engage in leasing residential real estate as set forth in Section 1450.200 until a valid sponsor card has been issued to the applicant.

 

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

 

3) A properly issued sponsor card shall serve as a temporary permit allowing the sponsored leasing agent to engage in leasing residential real property for a maximum of 45 days, only for the sponsoring broker named on the sponsor card.

 

4) A sponsoring broker may issue a sponsor card to a leasing agent or applicant only upon presentation of the following:

 

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

 

B) an original leasing agent license that is endorsed by the sponsoring broker who previously employed or was associated with the leasing agent; or

 

C) a leasing agent 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 electronically:

 

A) Leasing Agent Applicants:

 

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

 

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

 

iii) a signed and completed leasing agent license application; and

 

iv) the required leasing agent license application fee as set forth in Section 1450.130.

 

B) Leasing Agent Licensee:

 

i) a copy of the sponsor card;

 

ii) the required sponsor card fee set forth in Section 1450.130; and

 

iii) one of the following:

 

the properly endorsed leasing agent license and pocket card of the sponsored licensee;

 

the expired license of the sponsored licensee, the required fee set forth in Section 1450.130 and proof of CE, if applicable;

 

the pocket card of the licensee and the licensee's sworn statement explaining why the license is not submitted; or

 

if the license and pocket card are not available, the license status as verified by the Department.

 

6) A sponsoring broker issuing a sponsor card shall retain a copy of the sponsor card until the leasing agent license is received and properly displayed as set forth in Section 1450.730.

 

b) Broker and Managing Broker

 

1) A properly issued sponsor card shall serve as a temporary permit allowing the sponsored broker or managing broker to engage in licensed activities for a maximum of 45 days, only for the sponsoring broker named on the sponsor card.

 

2) A sponsoring broker may issue a sponsor card to a broker, managing broker, or applicant only upon presentation of the following:

 

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

 

B) an original broker or managing broker license endorsed by the sponsoring broker who previously employed or was associated with the broker or managing broker licensee; or

 

C) a broker or managing broker license expired for less than 2 years.

 

3) The sponsoring broker shall, within 24 hours after issuance of the sponsor card, submit the following to the Division electronically:

 

A) Broker and Managing Broker Applicants

 

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

 

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

 

iii) other documentation set forth in Sections 1450.430 and 1450.520.

 

B) Broker and Managing Broker Licensees

 

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

 

ii) the required sponsor card fee set forth in Section 1450.130; and

 

iii) one of the following:

 

the properly endorsed license and pocket card of the sponsored licensee;

 

the expired license of the sponsored licensee, the required fee set forth in Section 1450.130 and proof of CE, if applicable;

 

the pocket card of the licensee and the licensee's sworn statement explaining why the license is not submitted; or

 

if the license and pocket card are not available, the license status as verified by the Department.

 

4) A managing broker may practice as a sole proprietor, and a broker or managing broker may practice as a corporation, limited liability company, partnership, limited partnership or limited liability partnership provided that, prior to engaging in licensed activities, the managing broker or broker complies with the licensing requirements set forth in Section 1450.600 and submits the following to the Division electronically:

 

A) a copy of the managing broker's sponsor card;

 

B) the required sponsor card fee set forth in Section 1450.130;

 

C) a completed consent to examine and audit special accounts form, if applicable; and

 

D) one of the following:

 

i) the properly endorsed managing broker license and pocket card of the sponsored licensee;

 

ii) the expired managing broker license, the required fee set forth in Section 1450.130 and proof of CE, if applicable;

 

iii) the pocket card of the licensee and the licensee's sworn statement explaining why the managing broker license is not submitted; or

 

iv) if the license and the pocket card are not available, the license status as verified by the Department.

 

c) If an applicant or licensee fails to complete the requirements of this Section:

 

1) the sponsor card shall be void;

 

2) the applicant or licensee shall be considered to have never been authorized to practice; and

 

3) the applicant or licensee shall be subject to discipline.

 

d) Within 30 days after receipt and approval of the sponsor card, required fees and appropriate documentation, the Division shall issue to the applicant or licensee a license or may notify the applicant or licensee, managing broker, and sponsoring broker of the basis for denial.

 

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

 

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

 

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

 

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

 

g) Licensees shall carry a properly issued sponsor card or a valid pocket card and shall display them upon demand when engaging in any licensed activities.

 

h) Whenever any provision of Section 5-40 of the Act or any provision of this Part requires that any license be surrendered, sent, obtained, delivered or issued by or to a licensee (including a sponsoring broker) or the Department, the manner of doing so may include electronic transmission, including the use of any electronic portal maintained by the Department.

 

(Source: Amended at 43 Ill. Reg. 1975, effective January 25, 2019)