(225 ILCS 458/25-20)
(Section scheduled to be repealed on January 1, 2027)
Sec. 25-20. Department; powers and duties. The Department of Financial and Professional Regulation
shall exercise the powers and duties prescribed by the Civil Administrative
Code of Illinois for the administration of licensing Acts and shall exercise
such other powers and duties as are prescribed by this Act for the
administration of this Act. The Department
may contract with third parties for services
necessary for the proper
administration of this Act, including, without limitation, investigators with
the proper knowledge, training,
and skills to investigate complaints against real estate appraisers.
In addition, the Department may receive federal financial assistance, either directly from the federal government or indirectly through another source, public or private, for the administration of this Act. The Department may also receive transfers, gifts, grants, or donations from any source, public or private, in the form of funds, services, equipment, supplies, or materials. Any funds received pursuant to this Section shall be deposited in the Appraisal Administration Fund unless deposit in a different fund is otherwise mandated and shall be used in accordance with the requirements of the federal financial assistance, gift, grant, or donation for purposes related to the powers and duties of the Department.
The Department
shall maintain and update a registry of the names and addresses of
all licensees and a listing of disciplinary orders issued pursuant to this Act
and shall transmit the registry, along with any national registry fees that may
be required, to the entity specified by, and in a manner consistent with, Title
XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act
of 1989.
(Source: P.A. 102-16, eff. 6-17-21; 102-20, eff. 1-1-22; 102-687, eff. 12-17-21.) |