(625 ILCS 5/18c-5104)
(from Ch. 95 1/2, par. 18c-5104)
Transfer of Brokers' Licenses.
(1) Transfer of Brokers' Licenses Permitted.
A broker's license may be transferred, with Commission
approval, under the conditions specified in this Section and
in accordance with such regulations as the Commission may
(2) Procedures for Transferring Brokers' Licenses.
The provisions of Article III of the Sub-chapter 4 of this Chapter that
define a transfer and which govern the form and
manner of filing of applications for approval of the transfer
of a motor carrier of property license, notice to be given to
the public, and hearing, shall likewise govern the transfer
of a broker's license.
(3) Standards for Review of Transfer Applications.
The Commission shall grant an application for authority to
transfer a broker's license where:
(a) The application was properly filed on forms prescribed
by the Commission;
(b) The person has remitted the filing fee prescribed by the
(c) The transferee is fit, willing, and able under the terms
of Section 18c-5103 of this Chapter.
Otherwise, the application shall be denied.
(Source: P.A. 84-796.)