Section 1450.440  Application for Broker License by Reciprocity

a)         A broker's license by reciprocity shall be issued to a real estate broker, which, for the purposes of this subsection (a), shall include a real estate salesperson after April 30, 2011, under the following conditions:

1)         That the broker is the holder of an active broker's license, or equivalent by examination in a state that has a reciprocal agreement with the Division;

2)         That the standards of that state for licensing as a real estate broker are substantially equivalent to or greater than the minimum standards in Illinois;

3)         That the broker maintains a definite place of business in his or her state of licensure and, if the application is made prior to May 1, 2012, that the broker has been actively engaged in the real estate business as a broker in the broker's state of licensure during the immediately preceding 2 years; and

4)         That the broker files an application, on forms furnished by the Division, along with the required fee and:

A)        a statement bearing the seal of the licensing authority from each state in which he or she is licensed, showing:

i)          that he or she has an active license as a broker in that state;

ii)         that the license is in good standing; and

iii)        any disciplinary action taken against the broker;

B)        proof of passing an approved test on Illinois specific real estate brokerage laws;

C)        if the broker does not maintain a definite office or place of business within the State of Illinois, a written statement that:

i)          appoints the Director to act as the broker's agent upon whom all judicial and other process may be served;

ii)         acknowledges and agrees to abide by all of the provisions of the Act with respect to all of the broker's activities within and relating to the State of Illinois; and

iii)        assents to jurisdiction of the Division;

D)        a properly completed 45 day sponsor card form.

b)         Any licensee who renews a license granted under a reciprocal agreement thereby assents to jurisdiction without regard to the location of the licensee's domicile or principal business location or office locations.

c)         All requirements for licensure by reciprocity shall be met within one year after the date of original application or the application shall be denied and the fee forfeited. Thereafter, to be reconsidered for licensure, the applicant shall file a new application and fee.

d)         Brokers licensed by reciprocity on or before April 30, 2011 must comply with the transition requirements of Section 5-47 of the Act and this Part.