SB1655 EnrolledLRB098 06406 DRJ 40611 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Real Estate License Act of 2000 is amended
5by changing Sections 1-10, 5-27, 5-28, 5-50, 5-70, and 10-25 as
6follows:
 
7    (225 ILCS 454/1-10)
8    (Section scheduled to be repealed on January 1, 2020)
9    Sec. 1-10. Definitions. In this Act, unless the context
10otherwise requires:
11    "Act" means the Real Estate License Act of 2000.
12    "Address of Record" means the designated address recorded
13by the Department in the applicant's or licensee's application
14file or license file as maintained by the Department's
15licensure maintenance unit. It is the duty of the applicant or
16licensee to inform the Department of any change of address, and
17those changes must be made either through the Department's
18website or by contacting the Department.
19    "Advisory Council" means the Real Estate Education
20Advisory Council created under Section 30-10 of this Act.
21    "Agency" means a relationship in which a real estate broker
22or licensee, whether directly or through an affiliated
23licensee, represents a consumer by the consumer's consent,

 

 

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1whether express or implied, in a real property transaction.
2    "Applicant" means any person, as defined in this Section,
3who applies to the Department for a valid license as a real
4estate broker, real estate salesperson, or leasing agent.
5    "Blind advertisement" means any real estate advertisement
6that does not include the sponsoring broker's business name and
7that is used by any licensee regarding the sale or lease of
8real estate, including his or her own, licensed activities, or
9the hiring of any licensee under this Act. The broker's
10business name in the case of a franchise shall include the
11franchise affiliation as well as the name of the individual
12firm.
13    "Board" means the Real Estate Administration and
14Disciplinary Board of the Department as created by Section
1525-10 of this Act.
16    "Branch office" means a sponsoring broker's office other
17than the sponsoring broker's principal office.
18    "Broker" means an individual, partnership, limited
19liability company, corporation, or registered limited
20liability partnership other than a real estate salesperson or
21leasing agent who, whether in person or through any media or
22technology, for another and for compensation, or with the
23intention or expectation of receiving compensation, either
24directly or indirectly:
25        (1) Sells, exchanges, purchases, rents, or leases real
26    estate.

 

 

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1        (2) Offers to sell, exchange, purchase, rent, or lease
2    real estate.
3        (3) Negotiates, offers, attempts, or agrees to
4    negotiate the sale, exchange, purchase, rental, or leasing
5    of real estate.
6        (4) Lists, offers, attempts, or agrees to list real
7    estate for sale, lease, or exchange.
8        (5) Buys, sells, offers to buy or sell, or otherwise
9    deals in options on real estate or improvements thereon.
10        (6) Supervises the collection, offer, attempt, or
11    agreement to collect rent for the use of real estate.
12        (7) Advertises or represents himself or herself as
13    being engaged in the business of buying, selling,
14    exchanging, renting, or leasing real estate.
15        (8) Assists or directs in procuring or referring of
16    leads or prospects, intended to result in the sale,
17    exchange, lease, or rental of real estate.
18        (9) Assists or directs in the negotiation of any
19    transaction intended to result in the sale, exchange,
20    lease, or rental of real estate.
21        (10) Opens real estate to the public for marketing
22    purposes.
23        (11) Sells, leases, or offers for sale or lease real
24    estate at auction.
25    "Brokerage agreement" means a written or oral agreement
26between a sponsoring broker and a consumer for licensed

 

 

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1activities to be provided to a consumer in return for
2compensation or the right to receive compensation from another.
3Brokerage agreements may constitute either a bilateral or a
4unilateral agreement between the broker and the broker's client
5depending upon the content of the brokerage agreement. All
6exclusive brokerage agreements shall be in writing.
7    "Client" means a person who is being represented by a
8licensee.
9    "Compensation" means the valuable consideration given by
10one person or entity to another person or entity in exchange
11for the performance of some activity or service. Compensation
12shall include the transfer of valuable consideration,
13including without limitation the following:
14        (1) commissions;
15        (2) referral fees;
16        (3) bonuses;
17        (4) prizes;
18        (5) merchandise;
19        (6) finder fees;
20        (7) performance of services;
21        (8) coupons or gift certificates;
22        (9) discounts;
23        (10) rebates;
24        (11) a chance to win a raffle, drawing, lottery, or
25    similar game of chance not prohibited by any other law or
26    statute;

 

 

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1        (12) retainer fee; or
2        (13) salary.
3    "Confidential information" means information obtained by a
4licensee from a client during the term of a brokerage agreement
5that (i) was made confidential by the written request or
6written instruction of the client, (ii) deals with the
7negotiating position of the client, or (iii) is information the
8disclosure of which could materially harm the negotiating
9position of the client, unless at any time:
10        (1) the client permits the disclosure of information
11    given by that client by word or conduct;
12        (2) the disclosure is required by law; or
13        (3) the information becomes public from a source other
14    than the licensee.
15    "Confidential information" shall not be considered to
16include material information about the physical condition of
17the property.
18    "Consumer" means a person or entity seeking or receiving
19licensed activities.
20    "Continuing education school" means any person licensed by
21the Department as a school for continuing education in
22accordance with Section 30-15 of this Act.
23    "Coordinator" means the Coordinator of Real Estate created
24in Section 25-15 of this Act.
25    "Credit hour" means 50 minutes of classroom instruction in
26course work that meets the requirements set forth in rules

 

 

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1adopted by the Department.
2    "Customer" means a consumer who is not being represented by
3the licensee but for whom the licensee is performing
4ministerial acts.
5    "Department" means the Department of Financial and
6Professional Regulation.
7    "Designated agency" means a contractual relationship
8between a sponsoring broker and a client under Section 15-50 of
9this Act in which one or more licensees associated with or
10employed by the broker are designated as agent of the client.
11    "Designated agent" means a sponsored licensee named by a
12sponsoring broker as the legal agent of a client, as provided
13for in Section 15-50 of this Act.
14    "Dual agency" means an agency relationship in which a
15licensee is representing both buyer and seller or both landlord
16and tenant in the same transaction. When the agency
17relationship is a designated agency, the question of whether
18there is a dual agency shall be determined by the agency
19relationships of the designated agent of the parties and not of
20the sponsoring broker.
21    "Employee" or other derivative of the word "employee", when
22used to refer to, describe, or delineate the relationship
23between a real estate broker and a real estate salesperson,
24another real estate broker, or a leasing agent, shall be
25construed to include an independent contractor relationship,
26provided that a written agreement exists that clearly

 

 

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1establishes and states the relationship. All responsibilities
2of a broker shall remain.
3    "Escrow moneys" means all moneys, promissory notes or any
4other type or manner of legal tender or financial consideration
5deposited with any person for the benefit of the parties to the
6transaction. A transaction exists once an agreement has been
7reached and an accepted real estate contract signed or lease
8agreed to by the parties. Escrow moneys includes without
9limitation earnest moneys and security deposits, except those
10security deposits in which the person holding the security
11deposit is also the sole owner of the property being leased and
12for which the security deposit is being held.
13    "Electronic means of proctoring" means a methodology
14providing assurance that the person taking a test and
15completing the answers to questions is the person seeking
16licensure or credit for continuing education and is doing so
17without the aid of a third party or other device.
18    "Exclusive brokerage agreement" means a written brokerage
19agreement that provides that the sponsoring broker has the sole
20right, through one or more sponsored licensees, to act as the
21exclusive designated agent or representative of the client and
22that meets the requirements of Section 15-75 of this Act.
23    "Inoperative" means a status of licensure where the
24licensee holds a current license under this Act, but the
25licensee is prohibited from engaging in licensed activities
26because the licensee is unsponsored or the license of the

 

 

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1sponsoring broker with whom the licensee is associated or by
2whom he or she is employed is currently expired, revoked,
3suspended, or otherwise rendered invalid under this Act.
4    "Interactive delivery method" means delivery of a course by
5an instructor through a medium allowing for 2-way communication
6between the instructor and a student in which either can
7initiate or respond to questions.
8    "Leads" means the name or names of a potential buyer,
9seller, lessor, lessee, or client of a licensee.
10    "Leasing Agent" means a person who is employed by a real
11estate broker to engage in licensed activities limited to
12leasing residential real estate who has obtained a license as
13provided for in Section 5-5 of this Act.
14    "License" means the document issued by the Department
15certifying that the person named thereon has fulfilled all
16requirements prerequisite to licensure under this Act.
17    "Licensed activities" means those activities listed in the
18definition of "broker" under this Section.
19    "Licensee" means any person, as defined in this Section,
20who holds a valid unexpired license as a real estate broker,
21real estate salesperson, or leasing agent.
22    "Listing presentation" means a communication between a
23real estate broker or salesperson and a consumer in which the
24licensee is attempting to secure a brokerage agreement with the
25consumer to market the consumer's real estate for sale or
26lease.

 

 

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1    "Managing broker" means a broker who has supervisory
2responsibilities for licensees in one or, in the case of a
3multi-office company, more than one office and who has been
4appointed as such by the sponsoring broker.
5    "Medium of advertising" means any method of communication
6intended to influence the general public to use or purchase a
7particular good or service or real estate.
8    "Ministerial acts" means those acts that a licensee may
9perform for a consumer that are informative or clerical in
10nature and do not rise to the level of active representation on
11behalf of a consumer. Examples of these acts include without
12limitation (i) responding to phone inquiries by consumers as to
13the availability and pricing of brokerage services, (ii)
14responding to phone inquiries from a consumer concerning the
15price or location of property, (iii) attending an open house
16and responding to questions about the property from a consumer,
17(iv) setting an appointment to view property, (v) responding to
18questions of consumers walking into a licensee's office
19concerning brokerage services offered or particular
20properties, (vi) accompanying an appraiser, inspector,
21contractor, or similar third party on a visit to a property,
22(vii) describing a property or the property's condition in
23response to a consumer's inquiry, (viii) completing business or
24factual information for a consumer on an offer or contract to
25purchase on behalf of a client, (ix) showing a client through a
26property being sold by an owner on his or her own behalf, or

 

 

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1(x) referral to another broker or service provider.
2    "Office" means a real estate broker's place of business
3where the general public is invited to transact business and
4where records may be maintained and licenses displayed, whether
5or not it is the broker's principal place of business.
6    "Person" means and includes individuals, entities,
7corporations, limited liability companies, registered limited
8liability partnerships, and partnerships, foreign or domestic,
9except that when the context otherwise requires, the term may
10refer to a single individual or other described entity.
11    "Personal assistant" means a licensed or unlicensed person
12who has been hired for the purpose of aiding or assisting a
13sponsored licensee in the performance of the sponsored
14licensee's job.
15    "Pocket card" means the card issued by the Department to
16signify that the person named on the card is currently licensed
17under this Act.
18    "Pre-license school" means a school licensed by the
19Department offering courses in subjects related to real estate
20transactions, including the subjects upon which an applicant is
21examined in determining fitness to receive a license.
22    "Pre-renewal period" means the period between the date of
23issue of a currently valid license and the license's expiration
24date.
25    "Proctor" means any person, including, but not limited to,
26an instructor, who has a written agreement to administer

 

 

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1examinations fairly and impartially with a licensed
2pre-license school or a licensed continuing education school.
3    "Real estate" means and includes leaseholds as well as any
4other interest or estate in land, whether corporeal,
5incorporeal, freehold, or non-freehold, including timeshare
6interests, and whether the real estate is situated in this
7State or elsewhere.
8    "Regular employee" means a person working an average of 20
9hours per week for a person or entity who would be considered
10as an employee under the Internal Revenue Service eleven main
11tests in three categories being behavioral control, financial
12control and the type of relationship of the parties, formerly
13the twenty factor test.
14    "Salesperson" means any individual, other than a real
15estate broker or leasing agent, who is employed by a real
16estate broker or is associated by written agreement with a real
17estate broker as an independent contractor and participates in
18any activity described in the definition of "broker" under this
19Section.
20    "Secretary" means the Secretary of the Department of
21Financial and Professional Regulation, or a person authorized
22by the Secretary to act in the Secretary's stead.
23    "Sponsoring broker" means the broker who has issued a
24sponsor card to a licensed salesperson, another licensed
25broker, or a leasing agent.
26    "Sponsor card" means the temporary permit issued by the

 

 

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1sponsoring real estate broker certifying that the real estate
2broker, real estate salesperson, or leasing agent named thereon
3is employed by or associated by written agreement with the
4sponsoring real estate broker, as provided for in Section 5-40
5of this Act.
6(Source: P.A. 96-856, eff. 12-31-09.)
 
7    (225 ILCS 454/5-27)
8    (Section scheduled to be repealed on January 1, 2020)
9    Sec. 5-27. Requirements for licensure as a broker.
10    (a) Every applicant for licensure as a broker must meet the
11following qualifications:
12        (1) Be at least 21 years of age. After April 30, 2011,
13    the minimum age of 21 years shall be waived for any person
14    seeking a license as a broker who has attained the age of
15    18 and can provide evidence of the successful completion of
16    at least 4 semesters of post-secondary school study as a
17    full-time student or the equivalent, with major emphasis on
18    real estate courses, in a school approved by the
19    Department;
20        (2) Be of good moral character;
21        (3) Successfully complete a 4-year course of study in a
22    high school or secondary school approved by the Illinois
23    State Board of Education or an equivalent course of study
24    as determined by an examination conducted by the Illinois
25    State Board of Education which shall be verified under oath

 

 

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1    by the applicant;
2        (4) Prior to May 1, 2011, provide (i) satisfactory
3    evidence of having completed at least 120 classroom hours,
4    45 of which shall be those hours required to obtain a
5    salesperson's license plus 15 hours in brokerage
6    administration courses, in real estate courses approved by
7    the Advisory Council or (ii) for applicants who currently
8    hold a valid real estate salesperson's license, give
9    satisfactory evidence of having completed at least 75 hours
10    in real estate courses, not including the courses that are
11    required to obtain a salesperson's license, approved by the
12    Advisory Council;
13        (5) After April 30, 2011, provide satisfactory
14    evidence of having completed 90 hours of instruction in
15    real estate courses approved by the Advisory Council, 15
16    hours of which must consist of situational and case studies
17    presented in the classroom or by other interactive delivery
18    method presenting instruction and real time discussion
19    between the instructor and the students;
20        (6) Personally take and pass a written examination
21    authorized by the Department;
22        (7) Present a valid application for issuance of a
23    license accompanied by a sponsor card and the fees
24    specified by rule.
25    (b) The requirements specified in items (4) and (5) of
26subsection (a) of this Section do not apply to applicants who

 

 

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1are currently admitted to practice law by the Supreme Court of
2Illinois and are currently in active standing.
3    (c) No applicant shall engage in any of the activities
4covered by this Act until a valid sponsor card has been issued
5to such applicant. The sponsor card shall be valid for a
6maximum period of 45 days after the date of issuance unless
7extended for good cause as provided by rule.
8    (d) All licenses should be readily available to the public
9at their place of business.
10    (e) An individual holding an active license as a managing
11broker may return the license to the Department along with a
12form provided by the Department and shall be issued a broker's
13license in exchange. Any individual obtaining a broker's
14license under this subsection (e) shall be considered as having
15obtained a broker's license by education and passing the
16required test and shall be treated as such in determining
17compliance with this Act.
18(Source: P.A. 96-856, eff. 12-31-09.)
 
19    (225 ILCS 454/5-28)
20    (Section scheduled to be repealed on January 1, 2020)
21    Sec. 5-28. Requirements for licensure as a managing broker.
22    (a) Effective May 1, 2012, every applicant for licensure as
23a managing broker must meet the following qualifications:
24        (1) be at least 21 years of age;
25        (2) be of good moral character;

 

 

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1        (3) have been licensed at least 2 out of the preceding
2    3 years as a real estate broker or salesperson;
3        (4) successfully complete a 4-year course of study in
4    high school or secondary school approved by the Illinois
5    State Board of Education or an equivalent course of study
6    as determined by an examination conducted by the Illinois
7    State Board of Education, which shall be verified under
8    oath by the applicant;
9        (5) provide satisfactory evidence of having completed
10    at least 165 hours, 120 of which shall be those hours
11    required pre and post-licensure to obtain a broker's
12    license, and 45 additional hours completed within the year
13    immediately preceding the filing of an application for a
14    managing broker's license, which hours shall focus on
15    brokerage administration and management and include at
16    least 15 hours in the classroom or by other interactive
17    delivery method presenting instructional and real time
18    discussion between the instructor and the students;
19        (6) personally take and pass a written examination
20    authorized by the Department; and
21        (7) present a valid application for issuance of a
22    license accompanied by a sponsor card, an appointment as a
23    managing broker, and the fees specified by rule.
24    (b) The requirements specified in item (5) of subsection
25(a) of this Section do not apply to applicants who are
26currently admitted to practice law by the Supreme Court of

 

 

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1Illinois and are currently in active standing.
2    (c) No applicant shall act as a managing broker for more
3than 90 days after an appointment as a managing broker has been
4filed with the Department without obtaining a managing broker's
5license.
6(Source: P.A. 96-856, eff. 12-31-09.)
 
7    (225 ILCS 454/5-50)
8    (Section scheduled to be repealed on January 1, 2020)
9    Sec. 5-50. Expiration and renewal of managing broker,
10broker, salesperson, or leasing agent license; sponsoring
11broker; register of licensees; pocket card.
12    (a) The expiration date and renewal period for each license
13issued under this Act shall be set by rule, except that the
14first renewal period ending after the effective date of this
15Act for those licensed as a salesperson shall be extended
16through April 30, 2012. Except as otherwise provided in this
17Section, the holder of a license may renew the license within
1890 days preceding the expiration date thereof by completing the
19continuing education required by this Act and paying the fees
20specified by rule.
21    (b) An individual whose first license is that of a broker
22received after April 30, 2011, must provide evidence of having
23completed 30 hours of post-license education in courses
24approved by the Advisory Council, 15 hours of which must
25consist of situational and case studies presented in the

 

 

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1classroom or by other interactive delivery method presenting
2instruction and real time discussion between the instructor and
3the students, and personally take and pass an examination
4approved by the Department prior to the first renewal of their
5broker's license.
6    (c) Any salesperson until April 30, 2011 or any managing
7broker, broker, or leasing agent whose license under this Act
8has expired shall be eligible to renew the license during the
92-year period following the expiration date, provided the
10managing broker, broker, salesperson, or leasing agent pays the
11fees as prescribed by rule and completes continuing education
12and other requirements provided for by the Act or by rule.
13Beginning on May 1, 2012, a managing broker licensee, broker,
14or leasing agent whose license has been expired for more than 2
15years but less than 5 years may have it restored by (i)
16applying to the Department, (ii) paying the required fee, (iii)
17completing the continuing education requirements for the most
18recent pre-renewal period that ended prior to the date of the
19application for reinstatement, and (iv) filing acceptable
20proof of fitness to have his or her license restored, as set by
21rule. A managing broker, broker, or leasing agent whose license
22has been expired for more than 5 years shall be required to
23meet the requirements for a new license.
24    (d) Notwithstanding any other provisions of this Act to the
25contrary, any managing broker, broker, salesperson, or leasing
26agent whose license expired while he or she was (i) on active

 

 

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1duty with the Armed Forces of the United States or called into
2service or training by the state militia, (ii) engaged in
3training or education under the supervision of the United
4States preliminary to induction into military service, or (iii)
5serving as the Coordinator of Real Estate in the State of
6Illinois or as an employee of the Department may have his or
7her license renewed, reinstated or restored without paying any
8lapsed renewal fees if within 2 years after the termination of
9the service, training or education by furnishing the Department
10with satisfactory evidence of service, training, or education
11and it has been terminated under honorable conditions.
12     (e) The Department shall establish and maintain a register
13of all persons currently licensed by the State and shall issue
14and prescribe a form of pocket card. Upon payment by a licensee
15of the appropriate fee as prescribed by rule for engagement in
16the activity for which the licensee is qualified and holds a
17license for the current period, the Department shall issue a
18pocket card to the licensee. The pocket card shall be
19verification that the required fee for the current period has
20been paid and shall indicate that the person named thereon is
21licensed for the current renewal period as a managing broker,
22broker, salesperson, or leasing agent as the case may be. The
23pocket card shall further indicate that the person named
24thereon is authorized by the Department to engage in the
25licensed activity appropriate for his or her status (managing
26broker, broker, salesperson, or leasing agent). Each licensee

 

 

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1shall carry on his or her person his or her pocket card or, if
2such pocket card has not yet been issued, a properly issued
3sponsor card when engaging in any licensed activity and shall
4display the same on demand.
5    (f) The Department shall provide to the sponsoring broker a
6notice of renewal for all sponsored licensees by mailing the
7notice to the sponsoring broker's address of record, or, at the
8Department's discretion, by an electronic means as provided for
9by rule.
10    (g) Upon request from the sponsoring broker, the Department
11shall make available to the sponsoring broker, either by mail
12or by an electronic means at the discretion of the Department,
13a listing of licensees under this Act who, according to the
14records of the Department, are sponsored by that broker. Every
15licensee associated with or employed by a broker whose license
16is revoked, suspended, terminated, or expired shall be
17considered as inoperative until such time as the sponsoring
18broker's license is reinstated or renewed, or the licensee
19changes employment as set forth in subsection (c) of Section
205-40 of this Act.
21(Source: P.A. 96-856, eff. 12-31-09; 96-989, eff. 1-1-11.)
 
22    (225 ILCS 454/5-70)
23    (Section scheduled to be repealed on January 1, 2020)
24    Sec. 5-70. Continuing education requirement; managing
25broker, broker, or salesperson.

 

 

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1    (a) The requirements of this Section apply to all managing
2brokers, brokers, and salespersons.
3    (b) Except as otherwise provided in this Section, each
4person who applies for renewal of his or her license as a
5managing broker, real estate broker, or real estate salesperson
6must successfully complete 6 hours of real estate continuing
7education courses approved by the Advisory Council for each
8year of the pre-renewal period. Broker licensees must
9successfully complete a 6-hour broker management continuing
10education course approved by the Department for the pre-renewal
11period ending April 30, 2010. In addition, beginning with the
12pre-renewal period for managing broker licensees that begins
13after the effective date of this Act, those licensees renewing
14or obtaining a managing broker's license must successfully
15complete a 12-hour broker management continuing education
16course approved by the Department each pre-renewal period. The
17broker management continuing education course must be
18completed in the classroom or by other interactive delivery
19method presenting instruction and real time discussion between
20the instructor and the students. Successful completion of the
21course shall include achieving a passing score as provided by
22rule on a test developed and administered in accordance with
23rules adopted by the Department. No license may be renewed
24except upon the successful completion of the required courses
25or their equivalent or upon a waiver of those requirements for
26good cause shown as determined by the Secretary with the

 

 

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1recommendation of the Advisory Council. The requirements of
2this Article are applicable to all managing brokers, brokers,
3and salespersons except those brokers and salespersons who,
4during the pre-renewal period:
5        (1) serve in the armed services of the United States;
6        (2) serve as an elected State or federal official;
7        (3) serve as a full-time employee of the Department; or
8        (4) are admitted to practice law pursuant to Illinois
9    Supreme Court rule.
10    (c) A person licensed as a salesperson as of April 30, 2011
11shall not be required to complete the 18 hours of continuing
12education for the pre-renewal period ending April 30, 2012 if
13that person takes the 30-hour post-licensing course to obtain a
14broker's license. A person licensed as a broker as of April 30,
152011 shall not be required to complete the 12 hours of broker
16management continuing education for the pre-renewal period
17ending April 30, 2012, unless that person passes the
18proficiency exam provided for in Section 5-47 of this Act to
19qualify for a managing broker's license.
20    (d) A person receiving an initial license during the 90
21days before the renewal date shall not be required to complete
22the continuing education courses provided for in subsection (b)
23of this Section as a condition of initial license renewal.
24    (e) The continuing education requirement for salespersons,
25brokers and managing brokers shall consist of a core curriculum
26and an elective curriculum, to be established by the Advisory

 

 

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1Council. In meeting the continuing education requirements of
2this Act, at least 3 hours per year or their equivalent, 6
3hours for each two-year pre-renewal period, shall be required
4to be completed in the core curriculum. In establishing the
5core curriculum, the Advisory Council shall consider subjects
6that will educate licensees on recent changes in applicable
7laws and new laws and refresh the licensee on areas of the
8license law and the Department policy that the Advisory Council
9deems appropriate, and any other areas that the Advisory
10Council deems timely and applicable in order to prevent
11violations of this Act and to protect the public. In
12establishing the elective curriculum, the Advisory Council
13shall consider subjects that cover the various aspects of the
14practice of real estate that are covered under the scope of
15this Act. However, the elective curriculum shall not include
16any offerings referred to in Section 5-85 of this Act.
17    (f) The subject areas of continuing education courses
18approved by the Advisory Council may include without limitation
19the following:
20        (1) license law and escrow;
21        (2) antitrust;
22        (3) fair housing;
23        (4) agency;
24        (5) appraisal;
25        (6) property management;
26        (7) residential brokerage;

 

 

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1        (8) farm property management;
2        (9) rights and duties of sellers, buyers, and brokers;
3        (10) commercial brokerage and leasing; and
4        (11) real estate financing.
5    (g) In lieu of credit for those courses listed in
6subsection (f) of this Section, credit may be earned for
7serving as a licensed instructor in an approved course of
8continuing education. The amount of credit earned for teaching
9a course shall be the amount of continuing education credit for
10which the course is approved for licensees taking the course.
11    (h) Credit hours may be earned for self-study programs
12approved by the Advisory Council.
13    (i) A broker or salesperson may earn credit for a specific
14continuing education course only once during the prerenewal
15period.
16    (j) No more than 6 hours of continuing education credit may
17be taken or earned in one calendar day.
18    (k) To promote the offering of a uniform and consistent
19course content, the Department may provide for the development
20of a single broker management course to be offered by all
21continuing education providers who choose to offer the broker
22management continuing education course. The Department may
23contract for the development of the 12-hour broker management
24continuing education course with an outside vendor or
25consultant and, if the course is developed in this manner, the
26Department or the outside consultant shall license the use of

 

 

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1that course to all approved continuing education providers who
2wish to provide the course.
3    (l) Except as specifically provided in this Act, continuing
4education credit hours may not be earned for completion of pre
5or post-license courses. The approved 30-hour post-license
6course for broker licensees shall satisfy the continuing
7education requirement for the pre-renewal period in which the
8course is taken. The approved 45-hour brokerage administration
9and management course shall satisfy the 12-hour broker
10management continuing education requirement for the
11pre-renewal period in which the course is taken.
12(Source: P.A. 96-856, eff. 12-31-09; 97-1002, eff. 8-17-12.)
 
13    (225 ILCS 454/10-25)
14    (Section scheduled to be repealed on January 1, 2020)
15    Sec. 10-25. Expiration of brokerage agreement. No licensee
16shall obtain any written brokerage agreement that does not
17either provide for automatic expiration within a definite
18period of time or provide the client with a right to terminate
19the agreement annually by giving no more than 30 days' prior
20written notice. No notice of termination at the final
21expiration thereof shall be required. Any written brokerage
22agreement not containing such a provision for automatic
23expiration shall be void. When the license of any sponsoring
24broker is suspended or revoked, any brokerage agreement with
25the sponsoring broker shall be deemed to expire upon the

 

 

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1effective date of the suspension or revocation.
2(Source: P.A. 91-245, eff. 12-31-99.)
 
3    Section 99. Effective date. This Act takes effect upon
4becoming law.