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 1450.115 TERMINATION OF LICENSE
Section 1450.115 Termination of License
a) Upon termination of a license, a sponsoring broker shall immediately:
1) Endorse the licensee's original license as provided for on that document;
2) Submit a copy of the endorsed license to the Division within 2 business days after termination, or electronically;
3) Retain a copy of the endorsed license until the license's expiration date; and
4) Give the original endorsed license to the licensee.
b) Once the original license has been endorsed, the licensee is prohibited from engaging in licensed activities, and a licensed leasing agent is prohibited from engaging in leasing residential real property, until the licensee is issued a properly completed sponsor card.
(Source: Amended at 43 Ill. Reg. 1975, effective January 25, 2019)