Illinois General Assembly - Bill Status for HB4812

Amends the Real Estate License Act of 2000. Makes changes to the definition of "broker" and defines "proctor". Provides that every applicant for a broker's license must provide satisfactory proof to the Department of Financial and Professional Regulation of having been licensed and engaged in licensed real estate brokerage activities for at least 2 years out the 3 years immediately preceding the date of application. Provides that all licenses of sponsored licensees shall be issued to the sponsoring broker at the sponsoring broker's address of record and that the renewal for each sponsored licensee shall be mailed to that licensee's sponsoring broker's address of record not less than 60 days before the expiration date of the license of the sponsored licensee. Makes changes in provisions concerning continuing education for brokers and salespersons, the licensing of continuing education schools and approval of courses, and the licensing of continuing education instructors. Requires the Secretary of Financial and Professional Regulation to employ at least one full-time investigator for every 10,000 licensees under the Act for the investigation of complaints alleging violations of the Act and 2 full-time investigators for the investigation of unlicensed persons or entities engaged in activities for which licensure is required. Makes other changes. Effective immediately.

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