(815 ILCS 307/10-20)
Renewal of registration.
(a) A business broker may not continue engaging in
the business of business brokering unless the broker's
registration is renewed annually. A business broker shall
renew the registration by filing with the Secretary of
State, at least 30 days before the expiration of the
registration, an application containing any information the
Secretary of State may require to indicate any material
change from the information contained in the applicant's
original application or any previous application.
(b) An application for renewal must be accompanied by
a filing fee in the amount specified in subsection (a) of Section 10-25 of
this Act, and shall not be returnable in any event.
(c) Notwithstanding the foregoing, applications for renewal of
registration of business brokers may be filed within 30 days following the
expiration of the registration provided that the applicant pays the annual
registration fee together with an additional amount equal to the annual
registration fee and files any other information or documents that the
Secretary of State may prescribe by rule or order. Any application filed
within 30 days following the expiration of the registration shall be
automatically effective as of the time of the earlier expiration provided that
the proper fee has been paid to the Secretary of State.
(Source: P.A. 92-308, eff. 1-1-02.)