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 1450.440 APPLICATION FOR BROKER LICENSE BY RECIPROCITY


 

Section 1450.440  Application for Broker License by Reciprocity

 

a)         An Illinois broker license shall be issued by reciprocity to a broker under the following conditions:

 

1)         The broker holds an active broker license, or its equivalent, by examination in a state with a reciprocal agreement with the Division;

 

2)         The broker licensing standards of that state are substantially equivalent to or greater than the minimum standards in Illinois;

 

3)         The broker maintains a definite place of business in the broker's state of licensure; and

 

4)         The broker submits:

 

A)        an application, on forms provided by the Division;

 

B)        the required fee set forth in Section 1450.130;

 

C)        a statement bearing the seal of the licensing authority from each state of licensure, showing:

 

i)          an active broker license in that state;

 

ii)         the license is in good standing; and

 

iii)        any disciplinary action taken against the broker;

 

D)        proof of passing an approved examination on Illinois specific real estate laws;

 

E)        if the broker does not maintain a definite 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 and this Part with respect to all of the broker's licensed activities within and relating to the State of Illinois; and

 

iii)        assents to jurisdiction of the Division; and

 

F)         a properly completed 45 day sponsor card form.

 

b)         Any licensee who renews a license issued under a reciprocal agreement assents to jurisdiction of the Division 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 submit a new application with the required fee.

 

(Source:  Amended at 40 Ill. Reg. 12588, effective September 2, 2016)