Section 1450.105  Renewals

a)         Every leasing agent license issued under the Act shall expire on July 31 of each even numbered year.

b)         Every salesperson's license issued under the Act shall expire on April 30 of each odd numbered year.  All salespersons licenses which expire on March 31, 2001, pursuant to the Real Estate License Act of 1983 shall be extended to April 30, 2001.

c)         Every broker's license issued under the Act shall expire on April 30 of each even numbered year.  All broker's licenses which expire on January 31, 2000, pursuant to the Real Estate License Act of 1983 shall be extended to April 30, 2000.  Sponsoring brokers shall also submit a properly completed consent to audit and examine special accounts form.

d)         Every license issued to a corporation, limited liability company, partnership, limited partnership, or branch office under the Act shall expire on October 31 of each even numbered year. The holder of the license shall submit the following:

1)         A properly completed consent to audit and examine special accounts form; and

2)         A properly completed change of business information form as provided for in Section 1450.110 of this Part.

e)         Renewal applications shall be submitted on forms provided by the Division.  All renewals shall include the name and license number of the sponsoring broker.  Failure to receive a renewal form from the Division shall not constitute an excuse for failure to pay the renewal fee or to renew one's license.

f)          Practicing or offering to practice on an expired or inoperative license shall constitute unlicensed or unauthorized practice and shall be grounds for discipline pursuant to Section 20-20 of the Act.

g)         Any leasing agent, salesperson, or broker whose license under the Act has expired is eligible to renew the license without paying any lapsed renewal fees or reinstatement fee provided that the license expired while the licensee was:

1)         on active duty with the United States Army, United States Navy, United States Marine Corps, United States Air Force, United States Coast Guard, the State Militia called into the service or training of the United States, or

2)         engaged in training or education under the supervision of the United States prior to induction into military service, or

3)         serving as the Director or Deputy Director, or as an employee of the Division. A licensee renewing his or her license in accordance with this subsection may renew the license within a period of two years following the termination of service and are not required to take a refresher course or a retest.

h)         In accordance with Section 5-55 of the Act, any licensee whose license under this Act has expired for more than 2 years shall not be eligible for renewal of that license. Any licensee whose license has been expired for less than 2 years may renew the license at any time by complying with the requirements of this Part, by paying the fees required by Section 1450.95 of this Part and by providing the Division with evidence that the licensee has satisfactorily completed the required continuing education courses, including six hours per year while the license was expired.

i)          In accordance with Section 5-50 of the Act, upon request, the Division shall prepare and mail to the sponsoring real estate broker a listing of licensees who, according to the records of the Division, are sponsored by that broker. The sponsoring broker shall notify the Division concerning any inaccuracies in the listing within 30 days after its receipt.

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