SB 571 — REAL ESTATE LIC ACT-MISC

"Compensation" means the valuable consideration given by one person or entity to another person or entity in exchange SB0571 Engrossed - 6 - LRB095 09919 RAS 30130 b for the performance of some activity or service.

(1) the client permits the disclosure of information SB0571 Engrossed - 7 - LRB095 09919 RAS 30130 b given by that client by word or conduct;

"Director" means the Director of the Real Estate Division, SB0571 Engrossed - 8 - LRB095 09919 RAS 30130 b OBRE.

SB0571 Engrossed - 9 - LRB095 09919 RAS 30130 b "Exclusive brokerage agreement" means a written brokerage agreement that provides that the sponsoring broker has the sole right, through one or more sponsored licensees, to act as the exclusive designated agent or representative of the client and that meets the requirements of Section 15-75 of this Act.

"Listing presentation" means a communication between a real estate broker or salesperson and a consumer in which the SB0571 Engrossed - 10 - LRB095 09919 RAS 30130 b licensee is attempting to secure a brokerage agreement with the consumer to market the consumer’s real estate for sale or lease.

Examples of these acts include without limitation (i) responding to phone inquiries by consumers as to the availability and pricing of brokerage services, (ii) responding to phone inquiries from a consumer concerning the price or location of property, (iii) attending an open house and responding to questions about the property from a consumer, (iv) setting an appointment to view property, (v) responding to questions of consumers walking into a licensee’s office concerning brokerage services offered or particular properties, (vi) accompanying an appraiser, inspector, contractor, or similar third party on a visit to a property, (vii) describing a property or the property’s condition in response to a consumer’s inquiry, (viii) completing business or SB0571 Engrossed - 11 - LRB095 09919 RAS 30130 b factual information for a consumer on an offer or contract to purchase on behalf of a client, (ix) showing a client through a property being sold by an owner on his or her own behalf, or (x) referral to another broker or service provider.

SB0571 Engrossed - 12 - LRB095 09919 RAS 30130 b "Pre-renewal period" means the period between the date of issue of a currently valid license and the license’s expiration date.

"Sponsoring broker" means the broker who has issued a sponsor card to a licensed salesperson, another licensed SB0571 Engrossed - 13 - LRB095 09919 RAS 30130 b broker, or a leasing agent.

Such activities include without limitation leasing or renting residential real property, or attempting, offering, or negotiating to lease or rent residential real property, or supervising the collection, offer, attempt, or agreement to collect rent for the use of SB0571 Engrossed - 14 - LRB095 09919 RAS 30130 b residential real property.

12-31-99.) SB0571 Engrossed - 15 - LRB095 09919 RAS 30130 b (225 ILCS 454/5-6 new) (Section scheduled to be repealed on January 1, 2010) Sec.

SB0571 Engrossed - 16 - LRB095 09919 RAS 30130 b (1) He or she must be at least 18 years of age.

SB0571 Engrossed - 17 - LRB095 09919 RAS 30130 b No applicant may engage in any of the activities covered by this Act until a valid sponsor card has been issued to such applicant.

Each applicant must be at least 18 years of age, must be of good moral character, shall have successfully completed a 4-year course of study in a high school or secondary school or an equivalent course of study approved by the Illinois State Board of Education, and shall successfully complete a written SB0571 Engrossed - 18 - LRB095 09919 RAS 30130 b examination authorized by OBRE sufficient to demonstrate the applicant’s knowledge of the provisions of this Act relating to leasing agents and the applicant’s competence to engage in the activities of a licensed leasing agent.

12-31-99.) (225 ILCS 454/5-15) (Section scheduled to be repealed on January 1, 2010) SB0571 Engrossed - 19 - LRB095 09919 RAS 30130 b Sec.

In the case of a registered limited liability partnership (LLP), every partner SB0571 Engrossed - 20 - LRB095 09919 RAS 30130 b in the LLP must hold a license as a real estate broker and every employee who acts as a salesperson or leasing agent must hold a license as a real estate broker, salesperson, or leasing agent.

SB0571 Engrossed - 21 - LRB095 09919 RAS 30130 b (1) Any person, partnership, or corporation that as owner or lessor performs any of the acts described in the definition of "broker" under Section 1-10 of this Act with reference to property owned or leased by it, or to the regular employees thereof with respect to the property so owned or leased, where such acts are performed in the regular course of or as an incident to the management, sale, or other disposition of such property and the investment therein, provided that such regular employees do not perform any of the acts described in the definition of "broker" under Section 1-10 of this Act in connection with a vocation of selling or leasing any real estate or the improvements thereon not so owned or leased.

(4) Any person acting as a resident manager for the owner or any employee acting as the resident manager for a broker managing an apartment building, duplex, or apartment complex, when the resident manager resides on the premises, the premises is his or her primary residence, and the resident manager is engaged in the leasing of the property of which he or she is SB0571 Engrossed - 22 - LRB095 09919 RAS 30130 b the resident manager.

(10) Any resident lessee of a residential dwelling unit who refers for compensation to the owner of the dwelling unit, or to the owner’s agent, prospective lessees of dwelling units in SB0571 Engrossed - 23 - LRB095 09919 RAS 30130 b the same building or complex as the resident lessee’s unit, but only if the resident lessee (i) refers no more than 3 prospective lessees in any 12-month period, (ii) receives compensation of no more than $1,000 or the equivalent of one month’s rent, whichever is less, in any 12-month period, and (iii) limits his or her activities to referring prospective lessees to the owner, or the owner’s agent, and does not show a residential dwelling unit to a prospective lessee, discuss terms or conditions of leasing a dwelling unit with a prospective lessee, or otherwise participate in the negotiation of the leasing of a dwelling unit.

(13) Any person who is licensed without examination under SB0571 Engrossed - 24 - LRB095 09919 RAS 30130 b Section 10-25 of the Auction License Act is exempt from holding a broker’s or salesperson’s license under this Act for the limited purpose of selling or leasing real estate at auction, so long as:

8-2-01.) (225 ILCS 454/5-26 new) SB0571 Engrossed - 25 - LRB095 09919 RAS 30130 b (Section scheduled to be repealed on January 1, 2010) Sec.

(b) All applicants for licensure as a salesperson, except for applicants who meet the criteria set forth in subsection (c) of this Section must give satisfactory evidence of the completion, prior to May 1, 2009, of at least 45 hours andand, , on or after April 30, 2009, at least 90 hours of instruction in real estate courses approved by the Advisory Council.

(c) The requirements set forth in subsection (b) of this SB0571 Engrossed - 26 - LRB095 09919 RAS 30130 b Section do not apply to applicants who are currently admitted to practice law by the Supreme Court of Illinois and are currently in active standing.

(225 ILCS 454/5-27 new) SB0571 Engrossed - 27 - LRB095 09919 RAS 30130 b (Section scheduled to be repealed on January 1, 2010) Sec.

(a)(1) He or she must be at least 21 years of age;

however, the minimum age of 21 years shall be waived for any person seeking a license as a real estate salesperson who has attained the age of 18 and can provide evidence of the successful completion of at least 4 semesters of post secondary school study as a fullfull-time time student or the equivalent, with major emphasis on real estate courses in a school approved by the Department.

(b) All applicants for licensure as a broker, except for applicants who meet the criteria set forth in subsection (c) of this Section shall give satisfactory evidence of the completion, prior to May 1, 2009, of at least 120 classroom hours, 45 of which shall be those hours required to obtain a salesperson’s license plus 15 hours in brokerage administration courses, and on or after April 30, 2009, at SB0571 Engrossed - 28 - LRB095 09919 RAS 30130 b least 135 classroom hours, 90 of which shall be those hours required to obtain a salesperson’s license plus 15 hours in brokerage administration courses, in real estate courses approved by the Advisory Council.

SB0571 Engrossed - 29 - LRB095 09919 RAS 30130 b (225 ILCS 454/5-28 new) (Section scheduled to be repealed on January 1, 2010) Sec.

SB0571 Engrossed - 30 - LRB095 09919 RAS 30130 b (225 ILCS 454/5-35) (Section scheduled to be repealed on January 1, 2010) Sec.

Every person who makes application for an original license as a broker or salesperson shall personally take and pass a written examination authorized by OBRE and answer any questions that may be required to determine the good moral character of the applicant and the applicant’s competency to transact the business of broker or salesperson, as the case may be, in such a manner as to safeguard the interests of the SB0571 Engrossed - 31 - LRB095 09919 RAS 30130 b public.

(c) If an applicant has failed an examination 3 times, the applicant must repeat the pre-license education required to sit SB0571 Engrossed - 32 - LRB095 09919 RAS 30130 b for the examination.

(b) When a licensee terminates his or her employment or SB0571 Engrossed - 33 - LRB095 09919 RAS 30130 b association with a sponsoring broker or the employment is terminated by the sponsoring broker, the licensee shall obtain from the sponsoring broker his or her license endorsed by the sponsoring broker indicating the termination.

12-31-99.) SB0571 Engrossed - 34 - LRB095 09919 RAS 30130 b (225 ILCS 454/5-41 new) Sec.

SB0571 Engrossed - 35 - LRB095 09919 RAS 30130 b Any changes in managing brokers shall be reported to the Department OBRE in writing within 15 days of the change.

SB0571 Engrossed - 36 - LRB095 09919 RAS 30130 b (2) the broker maintains an office in the broker’s state of domicile;

No such SB0571 Engrossed - 37 - LRB095 09919 RAS 30130 b written authorization shall be valid for more than 60 days unless extended by the departmentDepartment OBRE for good cause shown and upon written request by the broker or representative.

Every licensee associated with or employed by a broker whose license is revoked, suspended, terminated, or expired shall be considered as inoperative until such time as the sponsoring broker’s license is reinstated or renewed, or the licensee changes employment as set forth in subsection (c) of Section SB0571 Engrossed - 38 - LRB095 09919 RAS 30130 b 5-40 of this Act.

(d) Any broker or salesperson whose license under this Act has expired shall be eligible to renew the license for a period of 2 years following the expiration date, provided the broker SB0571 Engrossed - 39 - LRB095 09919 RAS 30130 b or salesperson pays the fees as prescribed by rule and complete continuing education and other requirements provided by for under the Act or by rule.

A broker, salesperson, or leasing agent hallshall be eligible to renew a license under the provisions of this Section for a period of 2 years following the termination of the service, education, or training, provided that the termination was by other than dishonorable discharge and provided that the licensee furnishes the Department an affidavit specifying that the broker or salesperson has been so engaged and that the SB0571 Engrossed - 40 - LRB095 09919 RAS 30130 b service, education, or training has been so terminated.

(5) the broker completes a course of education and SB0571 Engrossed - 41 - LRB095 09919 RAS 30130 b passes a test on Illinois specific real estate brokerage laws;

(c) As a condition precedent to the issuance of a license to a nonresident broker or salesperson, the broker or salesperson shall agree in writing to abide by all the SB0571 Engrossed - 42 - LRB095 09919 RAS 30130 b provisions of this Act with respect to his or her real estate activities within the State of Illinois and submit to the jurisdiction of the Department OBRE as provided in this Act.

(f) Prior to the issuance of a license to a nonresident broker or salesperson, the broker or salesperson shall file with the Department OBRE a designation in writing that appoints SB0571 Engrossed - 43 - LRB095 09919 RAS 30130 b the Commissioner to act as his or her agent upon whom all judicial and other process or legal notices directed to the broker or salesperson may be served.

5-12-00.) (225 ILCS 454/5-65) (Section scheduled to be repealed on January 1, 2010) SB0571 Engrossed - 44 - LRB095 09919 RAS 30130 b Sec.

In addition, beginning with the pre-renewal period for broker licensees that begins after the effective date of this amendatory Act of the SB0571 Engrossed - 45 - LRB095 09919 RAS 30130 b 93rd General Assembly, to renew a real estate broker’s license, Except as otherwise provided in this Section, each person who applies for renewal of his or her license as a real estate broker must successfully complete real estate continuing education courses approved by the Advisory Council at the rate of 6 hours per year or its equivalent and, in addition, the licensee must successfully complete a 6-hour broker management continuing education course approved by the Department OBRE.

SB0571 Engrossed - 46 - LRB095 09919 RAS 30130 b (3) serve as a full-time employee of the Department OBRE;

In meeting the continuing education requirements of this Act, at least 3 hours per year or their equivalent shall be required to SB0571 Engrossed - 47 - LRB095 09919 RAS 30130 b be completed in the core curriculum.

and SB0571 Engrossed - 48 - LRB095 09919 RAS 30130 b (11) real estate financing.

SB0571 Engrossed - 49 - LRB095 09919 RAS 30130 b (Source:

(2) Offerings in mechanical office and business skills SB0571 Engrossed - 50 - LRB095 09919 RAS 30130 b such as typing, speed reading, memory improvement, advertising, or psychology of sales.

12-31-99.) (225 ILCS 454/20-5) (Section scheduled to be repealed on January 1, 2010) SB0571 Engrossed - 51 - LRB095 09919 RAS 30130 b Sec.

SB0571 Engrossed - 52 - LRB095 09919 RAS 30130 b (c) The civil penalty fine shall be paid within 60 days after the effective date of the order imposing the civil penalty fine.

or a misdemeanor, (b) When the SB0571 Engrossed - 53 - LRB095 09919 RAS 30130 b applicant or licensee has been convicted of any crime, an essential element of which is dishonesty or fraud or larceny, embezzlement, or obtaining money, property, or credit by false pretenses or by means of a confidence game, in has been convicted in this or another state of a crime that is a felony under the laws of this State, or any other jurisdiction has been convicted of a felony in a federal court.

(5) Disciplinary action of another Statestate or jurisdiction against the license or other authorization to practice as a broker, salesperson, or leasing agent (e) Discipline of a licensee by another state, the District of Columbia, a territory, a foreign nation, a governmental SB0571 Engrossed - 54 - LRB095 09919 RAS 30130 b agency, or any other entity authorized to impose discipline if at least one of the grounds for that discipline is the same as or the equivalent of one of the grounds for discipline set forth in this Act.

SB0571 Engrossed - 55 - LRB095 09919 RAS 30130 b (10) (2) Making any false promises of a character likely to influence, persuade, or induce.

(16) (8) Failure to maintain and deposit in a special account, separate and apart from personal and other business accounts, all escrow moneys belonging to others entrusted to a licensee while acting as a real estate broker, escrow agent, or temporary custodian of the funds of others or failure to maintain all escrow moneys on deposit in the account until the transactions are consummated or terminated, except to the extent that the moneys, or any part thereof, shall be disbursed prior to SB0571 Engrossed - 56 - LRB095 09919 RAS 30130 b the consummation or termination in accordance with (i) the written direction of the principals to the transaction or their duly authorized agents, (ii) directions providing for the release, payment, or distribution of escrow moneys contained in any written contract signed by the principals to the transaction or their duly authorized agents, or (iii) pursuant to an order of a court of competent jurisdiction.

(20) (12) Engaging in dishonorable, unethical, or SB0571 Engrossed - 57 - LRB095 09919 RAS 30130 b unprofessional conduct of a character likely to deceive, defraud, or harm the public.

(26) Failure (18) Failing to provide information requested by the Department OBRE, within 30 days of the request, either as the result of a formal or informal complaint to the Department OBRE or as a result of a random audit conducted by the Department OBRE, which would SB0571 Engrossed - 58 - LRB095 09919 RAS 30130 b indicate a violation of this Act.

(D) Any licensee offering a guaranteed sales plan shall undertake to market the property of the seller SB0571 Engrossed - 59 - LRB095 09919 RAS 30130 b subject to the plan in the same manner in which the broker would market any other property, unless the agreement with the seller provides otherwise.

(31) (23) Inducing any party to a contract of sale or lease or brokerage agreement to break the contract of sale or lease or brokerage agreement for the purpose of substituting, in lieu thereof, a new contract for sale or SB0571 Engrossed - 60 - LRB095 09919 RAS 30130 b lease or brokerage agreement with a third party.

(35) (27) Disregarding or violating any provision of the Land Sales Registration Act of 1989, the Illinois Real Estate Time-Share Act, or the published rules promulgated SB0571 Engrossed - 61 - LRB095 09919 RAS 30130 b by the Department OBRE to enforce those Acts.

SB0571 Engrossed - 62 - LRB095 09919 RAS 30130 b (b) In enforcing this Section, the Department or Board, upon a showing of a possible violation, may compel a licensee or an applicant for licensure under this Act to submit to a mental or physical examination, or both, as required by and at the expense of the Department.

or, in lieu of care, counseling, or treatment, the SB0571 Engrossed - 63 - LRB095 09919 RAS 30130 b Department may file, or the Board may recommend to the Department to file, a complaint to immediately suspend, revoke, or otherwise discipline the license of the individual.

8-19-04.) SB0571 Engrossed - 64 - LRB095 09919 RAS 30130 b (225 ILCS 454/20-21 new) (Section scheduled to be repealed on January 1, 2010) Sec.

SB0571 Engrossed - 65 - LRB095 09919 RAS 30130 b (c) Other than as provided in Section 5-20 of this Act, any licensed real estate broker, real estate salespersonsalesperson, , leasing agent, interested party, or person injured thereby may, in addition to the Secretary, petition for relief as provided for in subsection (a) of this Section against any person practicing as or holding himself or herself out to be a licensed real estate broker, real estate salesperson, or leasing agent who does not possess a valid and existing license issued by the Department under this Act.

Any person who delivers a check or other payment to the Department OBRE that is returned to the Department OBRE unpaid by the financial institution upon which it is drawn shall pay to the Department OBRE, in addition to the amount already owed to the Department SB0571 Engrossed - 66 - LRB095 09919 RAS 30130 b OBRE, a fee of $50.

Standards of practice shall include without limitation acts or omissions that leasing agents are prohibited from engaging in, disciplinary SB0571 Engrossed - 67 - LRB095 09919 RAS 30130 b procedures, and penalties for violating provisions of this Act.

however, the Department OBRE may issue a license or renewal if the person has established a satisfactory SB0571 Engrossed - 68 - LRB095 09919 RAS 30130 b repayment record as determined by the Illinois Student Assistance Commission or other appropriate governmental agency of this State.

In cases regarding the renewal of a license, the Department OBRE shall not renew any license if the Department SB0571 Engrossed - 69 - LRB095 09919 RAS 30130 b of Healthcare and Family Services (formerly Department of Public Aid) has certified the licensee to be more than 30 days delinquent in the payment of child support unless the licensee has arranged for payment of past and current child support obligations in a manner satisfactory to the Department of Healthcare and Family Services (formerly Department of Public Aid).

When there has been an order in an administrative proceeding finding that a licensee has illegally discriminated while engaged in any activity for which a license is required under this Act, the Department OBRE, upon recommendation of the Board as to the nature and extent of the discipline, shall take one or more of the disciplinary actions provided for in Section 20-20 of this Act SB0571 Engrossed - 70 - LRB095 09919 RAS 30130 b in a timely manner, unless the administrative order is in the appeal process.

(c) Prior to initiating any formal disciplinary SB0571 Engrossed - 71 - LRB095 09919 RAS 30130 b proceedings resulting from an investigation conducted pursuant to subsection (b) of this Section, that matter shall be reviewed by a subcommittee of the Board according to procedures established by rule.

In case the person fails to file an answer after receiving SB0571 Engrossed - 72 - LRB095 09919 RAS 30130 b notice, his or her license may, in the discretion of the Department OBRE, be suspended, revoked, or placed on probationary status, or the Department OBRE may take whatever disciplinary action deemed proper, including limiting the scope, nature, or extent of the person’s practice or the imposition of a fine, without a hearing, if the act or acts charged constitute sufficient grounds for such action under this Act.

In determining whether good cause for a continuance is shown, the Board or its hearing officer shall consider such SB0571 Engrossed - 73 - LRB095 09919 RAS 30130 b factors as the volume of cases pending, the nature and complexity of legal issues raised, the diligence of the party making the request, the availability of party’s legal representative or witnesses, and the number of previous requests for continuance.

(h) Any circuit court or any judge thereof, upon the application of the accused person, complainant, the Department OBRE, or the Board, may, by order entered, require the attendance of witnesses and the production of relevant books SB0571 Engrossed - 74 - LRB095 09919 RAS 30130 b and papers before the Board in any hearing relative to the application for or refusal, recall, suspension, or revocation of a license, and the court or judge may compel obedience to the court’s or the judge’s order by proceedings for contempt.

Within 20 days after the service, the accused may present to the Secretary Commissioner a motion in writing for a rehearing that shall specify the particular SB0571 Engrossed - 75 - LRB095 09919 RAS 30130 b grounds therefor.

SB0571 Engrossed - 76 - LRB095 09919 RAS 30130 b (k) At any time after the suspension, temporary suspension, or revocation of any license, the Department OBRE may restore it to the accused without examination, upon the written recommendation of the Board.

8-2-01.) SB0571 Engrossed - 77 - LRB095 09919 RAS 30130 b (225 ILCS 454/20-65) (Section scheduled to be repealed on January 1, 2010) Sec.

The term "administrative decision" is defined in SB0571 Engrossed - 78 - LRB095 09919 RAS 30130 b Section 3-101 of the Administrative Review Law.

The Department OBRE shall maintain a Real Estate Recovery Fund from which any person aggrieved by an act, representation, transaction, or conduct of a licensee or unlicensed employee of a licensee that is in violation of this Act or the rules promulgated pursuant thereto, constitutes embezzlement of money or property, or results in money or property being unlawfully obtained from any person by false pretenses, SB0571 Engrossed - 79 - LRB095 09919 RAS 30130 b artifice, trickery, or forgery or by reason of any fraud, misrepresentation, discrimination, or deceit by or on the part of any such licensee or the unlicensed employee of a licensee and that results in a loss of actual cash money, as opposed to losses in market value, may recover.

Nothing in this Section shall be construed to authorize recovery from the Fund unless the loss of the aggrieved person results from an act or omission of a licensed broker, salesperson, or unlicensed employee who was at the time of the act or omission acting in such capacity or was SB0571 Engrossed - 80 - LRB095 09919 RAS 30130 b apparently acting in such capacity and unless the aggrieved person has obtained a valid judgment as provided in Section 20-90 of this Act.

Failure to name as parties defendant such SB0571 Engrossed - 81 - LRB095 09919 RAS 30130 b individual brokers, salespersons, or their employees shall preclude recovery from the Real Estate Recovery Fund of any portion of any judgment received in such an action.

Service of SB0571 Engrossed - 82 - LRB095 09919 RAS 30130 b process on the Commissioner shall be taken and held in that court to be as valid and binding as if due service had been made upon the defendant.

The aggrieved person shall provide the Department OBRE within 20 days prior written notice of all supplementary proceedings so as to allow the Department OBRE to participate SB0571 Engrossed - 83 - LRB095 09919 RAS 30130 b in all efforts to collect on the judgment.

(4) Has made all reasonable searches and inquiries to SB0571 Engrossed - 84 - LRB095 09919 RAS 30130 b ascertain whether the judgment debtor is possessed of real or personal property or other assets, liable to be sold or applied in satisfaction of the judgment.

(h) The court shall make an order directed to the Department OBRE requiring payment from the Real Estate Recovery SB0571 Engrossed - 85 - LRB095 09919 RAS 30130 b Fund of whatever sum it finds to be payable upon the claim, pursuant to and in accordance with the limitations contained in Section 20-85 of this Act, if the court is satisfied, upon the hearing, of the truth of all matters required to be shown by the aggrieved person under subsection (g) of this Section and that the aggrieved person has fully pursued and exhausted all remedies available for recovering the amount awarded by the judgment of the court.

(j) If, at any time, the money deposited in the Real Estate Recovery Fund is insufficient to satisfy any duly authorized claim or portion thereof, the Department OBRE shall, when sufficient money has been deposited in the Real Estate Recovery Fund, satisfy such unpaid claims or portions thereof, in the SB0571 Engrossed - 86 - LRB095 09919 RAS 30130 b order that such claims or portions thereof were originally filed, plus accumulated interest at the rate prescribed in Section 12-109 of the Code of Civil Procedure.

When, upon the order of the court, the Department OBRE has paid from the Real Estate Recovery Fund any sum to the judgment creditor, the Department OBRE shall be subrogated to all of the rights of the judgment creditor and the judgment creditor shall assign all rights, title, and interest in the judgment to the Department OBRE and any amount SB0571 Engrossed - 87 - LRB095 09919 RAS 30130 b and interest so recovered by the Department OBRE on the judgment shall be deposited in the Real Estate Recovery Fund.

12-31-99.) (225 ILCS 454/25-5) (Section scheduled to be repealed on January 1, 2010) SB0571 Engrossed - 88 - LRB095 09919 RAS 30130 b Sec.

None of these members shall be a person who is licensed under this Act or a similar Act of another jurisdiction or who SB0571 Engrossed - 89 - LRB095 09919 RAS 30130 b has a connection with the profession, the spouse of a person licensed under this Act, or a person who has an ownership interest in a real estate brokerage business.

Each member of the Board shall receive a SB0571 Engrossed - 90 - LRB095 09919 RAS 30130 b per diem stipend in an amount to be determined by the Commissioner.

The Department OBRE, after notifying and considering the recommendations of the Board, if any, shall SB0571 Engrossed - 91 - LRB095 09919 RAS 30130 b adopt, promulgate, and issue any rules that may be necessary for the implementation and enforcement of this Act.

The Coordinator Director of Real SB0571 Engrossed - 92 - LRB095 09919 RAS 30130 b Estate shall report to the Commissioner and shall do the following:

SB0571 Engrossed - 93 - LRB095 09919 RAS 30130 b In designating the Real Estate Coordinator, the Secretary Director and Deputy Director of Real Estate, the Commissioner shall give due consideration to recommendations by members and organizations of the profession.

Of the SB0571 Engrossed - 94 - LRB095 09919 RAS 30130 b $125,000 annually transferred into the Real Estate Research and Education Fund, $15,000 shall be used to fund a scholarship program for persons of minority racial origin who wish to pursue a course of study in the field of real estate.

SB0571 Engrossed - 95 - LRB095 09919 RAS 30130 b (Source:

Upon the completion of any audit of the Department OBRE, as prescribed by the Illinois State Auditing Act, which includes an audit of the SB0571 Engrossed - 96 - LRB095 09919 RAS 30130 b Real Estate License Administration Fund, the Department OBRE shall make the audit open to inspection by any interested person.

All earnings, interest, and dividends received from investment of funds in the Real Estate Recovery Fund shall be deposited into the Real Estate License Administration Fund and shall be used for the same purposes as SB0571 Engrossed - 97 - LRB095 09919 RAS 30130 b other moneys deposited in the Real Estate License Administration Fund.

Such audit shall be performed by a licensed certified public accountant, shall result in a SB0571 Engrossed - 98 - LRB095 09919 RAS 30130 b written report by the accountant, and shall specifically refer to the escrow and record-keeping requirements of this Act and the rules adopted under this Act.

SB0571 Engrossed - 99 - LRB095 09919 RAS 30130 b (Source:

SB0571 Engrossed - 100 - LRB095 09919 RAS 30130 b Disciplinary proceedings shall be conducted by the Board in the same manner as other disciplinary proceedings under this Act.

The members’ terms shall be 4 years or until a successor is appointed and the expiration of terms shall be SB0571 Engrossed - 101 - LRB095 09919 RAS 30130 b staggered as determined by the Governor.

SB0571 Engrossed - 102 - LRB095 09919 RAS 30130 b (Source:

SB0571 Engrossed - 103 - LRB095 09919 RAS 30130 b (2) A sufficient number of qualified, licensed instructors as provided by rule.

SB0571 Engrossed - 104 - LRB095 09919 RAS 30130 b (10) The continuing education school must provide for closed book examinations for each course.

SB0571 Engrossed - 105 - LRB095 09919 RAS 30130 b (f) All continuing education schools shall submit, at the time of initial application and with each license renewal, a list of courses with course materials to be offered by the continuing education school.

(h) The Department OBRE, upon the recommendation of the Advisory Council, may temporarily suspend a licensed continuing education school’s approved courses without hearing SB0571 Engrossed - 106 - LRB095 09919 RAS 30130 b and refuse to accept successful completion of or participation in any of these continuing education courses for continuing education credit from that school upon the failure of that continuing education school to comply with the provisions of this Act or the rules for the administration of this Act, until such time as the Department OBRE receives satisfactory assurance of compliance.

(a) No person shall act as a core curriculum continuing education instructor at a continuing education school or branch without possessing a valid continuing education instructor license and satisfying any other criteria established by the SB0571 Engrossed - 107 - LRB095 09919 RAS 30130 b Department by rule.

Disciplinary proceedings shall be conducted by the Board in the same manner as other disciplinary SB0571 Engrossed - 108 - LRB095 09919 RAS 30130 b proceedings under this Act.

SB0571 Engrossed - 109 - LRB095 09919 RAS 30130 b (d) This Act does not affect any license, certificate, permit, or other form of licensure or authorization issued by the Office of Banks and Real Estate under the Real Estate License Act of 1983, and all such licenses, certificates, permits, or other form of licensure or authorization shall continue to be valid under the terms and conditions of this Act.

12-31-99.) SB0571 Engrossed - 110 - LRB095 09919 RAS 30130 b (225 ILCS 454/5-10 rep.) (225 ILCS 454/5-25 rep.) (225 ILCS 454/5-30 rep.) (225 ILCS 454/5-55 rep.) (225 ILCS 454/20-80 rep.) (225 ILCS 454/20-120 rep.) Section 15.

SB0571 Engrossed - 111 - LRB095 09919 RAS 30130 b INDEX Statutes amended in order of appearance 5 ILCS 80/4.20 5 ILCS 80/4.27 225 ILCS 454/1-10 225 ILCS 454/5-5 225 ILCS 454/5-6 new 225 ILCS 454/5-7 new 225 ILCS 454/5-10 225 ILCS 454/5-15 225 ILCS 454/5-20 225 ILCS 454/5-26 new 225 ILCS 454/5-27 new 225 ILCS 454/5-28 new 225 ILCS 454/5-35 225 ILCS 454/5-40 225 ILCS 454/5-41 new 225 ILCS 454/5-45 225 ILCS 454/5-50 225 ILCS 454/5-60 225 ILCS 454/5-65 225 ILCS 454/5-70 225 ILCS 454/5-80 225 ILCS 454/5-85 225 ILCS 454/15-65 SB0571 Engrossed - 112 - LRB095 09919 RAS 30130 b 225 ILCS 454/20-5 225 ILCS 454/20-10 225 ILCS 454/20-20 225 ILCS 454/20-21 new 225 ILCS 454/20-22 new 225 ILCS 454/20-25 225 ILCS 454/20-30 225 ILCS 454/20-35 225 ILCS 454/20-40 225 ILCS 454/20-45 225 ILCS 454/20-50 225 ILCS 454/20-60 225 ILCS 454/20-65 225 ILCS 454/20-75 225 ILCS 454/20-85 225 ILCS 454/20-90 225 ILCS 454/20-95 225 ILCS 454/20-100 225 ILCS 454/20-110 225 ILCS 454/20-115 225 ILCS 454/25-5 225 ILCS 454/25-10 225 ILCS 454/25-13 225 ILCS 454/25-14 225 ILCS 454/25-15 225 ILCS 454/25-20 SB0571 Engrossed - 113 - LRB095 09919 RAS 30130 b 225 ILCS 454/25-25 225 ILCS 454/25-30 225 ILCS 454/25-35 225 ILCS 454/25-37 225 ILCS 454/30-5 225 ILCS 454/30-10 225 ILCS 454/30-15 225 ILCS 454/30-25 225 ILCS 454/35-5 225 ILCS 454/5-10 rep.