Section 1535.3  Timber Buyer Application and Department Verification

a)         All timber buyers shall obtain a license from the Department before engaging in the business of timber buying.  Application for such license shall be filed on forms provided by the Department and shall contain the following minimum information:

1)         Name, date of birth and address of the applicant;

2)         Business name, if any, including if the business is a corporation, partnership or limited liability company;

3)         Principal officers if applicant is a corporation or the partners if applicant is a partnership;

4)         Location of the principal office or place of business of the applicant;

5)         The counties in the State of Illinois which the applicant proposes to engage in the business of timber buyer;

6)         Name, date of birth, and address of all agents of the applicant;

7)         A certificate of liability insurance issued by an insurance company or surety company that is authorized to do business in the State of Illinois in the principal amount of not less than $500,000 and shall include the expiration date of the policy; and

8)         Any other information as required by the Department in the application.

b)           The Department shall approve the issuance of a timber buyer's license if all of the following criteria are met:

1)         The applicant has provided all documentation required in the application to the Department's satisfaction.

2)         The applicant has paid the application fee pursuant to Section 8 of the Act.  The fee is:

A)        $125 for residents

B)        $300 for non-residents

3)         The applicant has provided proof of liability insurance as required by the Act and this Part.

4)         The applicant and all agents listed in the application are in good standing with the Department.

5)         The applicant and all agents listed in the application are 18 years of age or older.

(Source:  Section renumbered from 1535.1 to Section 1535.3 and amended at 48 Ill. Reg. 8643, effective May 30, 2024)