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Illinois Statutes Chapter 225. Professions,Occupations and Business Operations § 454/5-60.5. Managing broker licensed in another state; broker licensed in another state; endorsement requirements; agent for service of process

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 5-60.5. Managing broker licensed in another state; broker licensed in another state; endorsement requirements; agent for service of process.

(a) A managing broker's license may be issued by the Department to a managing broker or its equivalent licensed under the laws of another state or jurisdiction of the United States under the following conditions:

(1) the managing broker holds an active managing broker's license or its equivalent in another state or jurisdiction;

(2) the managing broker has been actively practicing as a managing broker or its license equivalent in the managing broker's state or jurisdiction of licensure for a period of not less than 2 years immediately prior to the date of application;

(3) the managing broker furnishes the Department with an official statement from the proper licensing authority of each state or jurisdiction in which the managing broker is licensed certifying (i) that the managing broker has an active license, (ii) that the managing broker is in good standing, and (iii) any history of discipline against the managing broker in that state or jurisdiction of licensure;

(4) the managing broker passes a test on Illinois specific real estate brokerage laws; and

(5) the managing broker provides proof of successful completion of a pre-license endorsement course approved by the Department.

(b) A broker's license may be issued by the Department to a broker or its equivalent licensed under the laws of another state or jurisdiction of the United States under the following conditions:

(1) the broker holds an active broker's license or its equivalent in another state or jurisdiction;

(2) the broker furnishes the Department with an official statement from the proper licensing authority of each state or jurisdiction in which the broker is licensed certifying (i) whether the broker has an active license, (ii) that the broker is in good standing, and (iii) any history of discipline against the broker in that state or jurisdiction of licensure;

(3) the broker passes a test on Illinois specific real estate brokerage laws;

(4) the broker provides proof of successful completion of a pre-license endorsement course approved by the Department; and

(5) if the broker has been actively practicing as a broker or its license equivalent in any other state or jurisdiction for less than 2 years immediately prior to the date of application, the broker must complete the 45 hours of post-license broker education prescribed in this Act and by rule.

(c) As a condition precedent to the issuance of a license to a managing broker or broker pursuant to this Section, the managing broker or broker shall agree to abide by all the provisions of this Act with respect to managing broker's or broker's real estate activities within the State of Illinois and submit to the jurisdiction of the Department as provided in this Act. The agreement shall remain in force for so long as the managing broker or broker is licensed by this State and thereafter with respect to acts or omissions committed while licensed in this State.

(d) Prior to the issuance of a license to a nonresident managing broker or broker, the managing broker or broker shall file with the Department a designation in writing that appoints the Secretary to act as the managing broker's or broker's agent upon whom all judicial and other process or legal notices directed to the managing broker or broker may be served. Service upon the Secretary shall be equivalent to personal service upon the licensee. Copies of the appointment, certified by the Secretary, shall be deemed sufficient evidence and shall be admitted into evidence with the same force and effect as if the original is admitted.

(e) The same fees must be paid as provided in this Act for obtaining a managing broker's or broker's license in this State.

(f) In the written designation, the managing broker or broker shall agree that any lawful process against the licensee that is served upon the agent shall be of the same legal force and validity as if served upon the licensee and that the authority shall continue in force so long as any liability remains outstanding in this State. Upon the receipt of any process or notice, the Secretary shall deliver a copy of the same by regular mail or email to the mailing address or email address of record of the licensee.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 225. Professions,Occupations and Business Operations § 454/5-60.5. Managing broker licensed in another state; broker licensed in another state; endorsement requirements; agent for service of process - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-225-professionsoccupations-and-business-operations/il-st-sect-225-454-5-60-5/

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