Section 1450.25  Sponsor Card for Leasing Agents

a)         Except for a person working under a 120 day leasing agent permit as provided in Section 1450.40 of this Subpart, 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.

b)         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 thereon 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.

c)         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.

d)         A licensed real estate broker may issue a sponsor card to an individual only in the following circumstances:

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

2)         upon presentation of an original leasing agent license which is endorsed by the broker by whom the leasing agent was previously employed.

e)         The sponsoring broker shall, within 24 hours after issuance of the sponsor card, submit the following to the Division by certified or registered mail, return receipt requested, or other signature restricted delivery service.

1)         For applicants for an initial leasing agent license:

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

B)        a leasing agent examination pass score report which states that the broker may issue a sponsor card;

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

D)        the license application fee required by Section 1450.95 of this Part.

2)         For persons already holding a leasing agent license:

A)        a copy of the sponsor card; and

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

f)          A 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 in the broker's office.

(Source:  Amended at 30 Ill. Reg. 11075, effective June 8, 2006)