(820 ILCS 405/217.1)
Real estate transaction closing agents.
(a) The term "employment" does not include services performed by an
individual as a real estate transaction closing agent when the individual has
a contract that specifies the relationship of the individual to the title
insurance company to be that of an independent contractor and not that of an
employee and is compensated on a per closing basis. For purposes of this
Section, a "real estate transaction closing agent" is an individual assigned by
a title insurance company solely to ensure that the execution of documents
related to the closing of a real estate sale or the refinancing of a real
estate loan and the disbursement of closing funds are in conformity with the
instructions of the entity financing the transaction, or in a cash transaction,
to assure proper disbursement of funds as directed by parties having an
interest in the transaction.
(b) Subsection (a) shall not apply to any services that are required to be
covered as a condition of approval of this Act by the United States Secretary
of Labor under Section 3304(a)(6)(A) of the Federal Unemployment Tax Act.
(Source: P.A. 89-649, eff. 8-9-96.)