625 ILCS 5/ Illinois Vehicle Code.

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625 ILCS 5/18c-5104

(625 ILCS 5/18c-5104) (from Ch. 95 1/2, par. 18c-5104)

Sec. 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
prescribe.

(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
Commission; and

(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.)

625 ILCS 5/18c-5105

(625 ILCS 5/18c-5105) (from Ch. 95 1/2, par. 18c-5105)

Sec. 18c-5105.

Bonds and Insurance.

The Commission may prescribe for brokers such requirements
regarding bonds, insurance, and the terms of coverage thereof, as
the Commission determines are needed to protect carriers,
shippers, consignors, and consignees of freight with respect to which
brokering service is provided.  Unless otherwise provided by the
Commission, such requirements shall be the same as are applicable
to property brokers under the Interstate Commerce Act and
regulations adopted thereunder.

(Source: P.A. 84-796.)