Section 1450.35  Termination of Employment of Leasing Agent

a)         Upon termination of employment of a leasing agent licensee, the sponsoring broker shall immediately:

1)         endorse the leasing agent's license as provided on that document;

2)         submit a photocopy of the endorsed license to the Division within 2 days after termination by certified mail, return receipt requested, or other signature restricted delivery service;

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

4)         give the original endorsed license indicating the termination to the licensee.

b)         Once a license is endorsed, the leasing agent licensee is prohibited from practicing until the licensee is again issued a properly completed sponsor card.

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