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 1450.760 DISCLOSURE OF COMPENSATION
Section 1450.760 Disclosure of Compensation
Pursuant to Section 10-10(c) of the Act, a licensee shall disclose, in writing, either physically or electronically, any compensation the licensee expects to receive or that the licensee's sponsoring broker will receive that arises out of a referral to any person or entity in which the licensee or licensee's sponsoring broker has any interest greater than 1%. This provision applies when the compensation is for the purpose of the client obtaining services related to the transaction, including any financial institution, insurance broker, mortgage broker, home inspector or any other third party services.
(Source: Amended at 45 Ill. Reg. 2851, effective February 23, 2021)