(225 ILCS 454/10-5)
(Section scheduled to be repealed on January 1, 2030)
Sec. 10-5. Payment of compensation.
(a) No licensee shall pay compensation directly to a licensee sponsored by
another sponsoring broker for
the performance of licensed activities. No licensee sponsored by a broker may
pay compensation to
any licensee other than his or her sponsoring broker for the performance of
licensed activities
unless the licensee paying the compensation is a principal to the transaction.
However, a non-sponsoring broker may pay compensation directly to a licensee
sponsored by
another or a person
who is not sponsored by a broker if the payments are made pursuant to terms of
an employment
agreement that was previously in place between a licensee and the
non-sponsoring broker, and the
payments are for licensed activity performed by that person while previously
sponsored by the now
non-sponsoring broker.
(b) No licensee sponsored by a broker shall accept compensation for the
performance of
activities under this Act except from the broker by whom the licensee is
sponsored, except as
provided in this Section.
(c) (Blank).
(d) One sponsoring broker may pay compensation directly to another
sponsoring broker for the
performance of licensed activities.
(e) Notwithstanding any other provision of this Act, a sponsoring broker may pay compensation to a person currently licensed under the Auction License Act who is in compliance with and providing services under Section 5-32 of this Act. (Source: P.A. 101-357, eff. 8-9-19.)
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