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 in a format 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) Proof of sponsorship or self-sponsorship, if the applicant is seeking an active license (see Section 1450.110);
5) A transcript, if applicable;
6) If the applicant will be a self-sponsored managing broker, a completed consent to examine and audit special accounts form;
7) A certification that the applicant has been actively licensed and in good standing as a broker for 2 consecutive years out of the last 3 years; and
8) Any other 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) A self-sponsored managing broker shall comply with all the office requirements set forth in Section 1450.610.
(Source: Amended at 45 Ill. Reg. 2851, effective February 23, 2021)