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 1450.520 APPLICATION FOR MANAGING BROKER LICENSE BY EXAMINATION


 

Section 1450.520  Application for Managing Broker License by Examination

 

a)         Each applicant for a managing broker license shall submit to the Division:

 

1)         A signed and completed application on forms provided by the Division;

 

2)         The required fee set forth in Section 1450.130;

 

3)         Proof of successful completion of the examination authorized by the Division;

 

4)         A properly completed sponsor card form as set forth in Section 1450.110;

 

5)         A transcript, if applicable; 

 

6)         If the applicant will be a sponsoring broker, a completed consent to examine and audit special accounts form; and

 

7)         A certification that the applicant has been actively licensed as a broker for 2 of the last 3 years; and

 

8)         any other appropriate documentation prescribed by the Division.

 

b)         An applicant shall have one year from the date of receipt of a passing examination score to submit an application with the Division and to meet all of the requirements for licensure.

 

c)         If an applicant for a managing broker license currently holds an active broker license, the broker license must be in good standing.

 

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