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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 10-5.10. Business Broker. “Business Broker” means any person who is required to register under Section 10-10 of this Act and, in return for a fee, commission, or other compensation:
(1) promises to procure a business for any person or assists any person in procuring a business from any third person;
(2) negotiates, offers, attempts or agrees to negotiate the sale, exchange, or purchase of a business;
(3) buys, sells, offers to buy or sell or otherwise deals in options on businesses;
(4) advertises or represents himself as a business broker;
(5) assists or directs in the procuring of prospects intended to result in the purchase, sale, or exchange of a business;
(6) offers, promotes, lists or agrees to offer, promote, or list a business for sale, lease, or exchange.
Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 307/10-5.10. Business Broker - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-307-10-5-10/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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