| |||||||
| |||||||
| |||||||
1 | AN ACT concerning regulation.
| ||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||
3 | represented in the General Assembly:
| ||||||
4 | Section 5. The Real Estate License Act of 2000 is amended | ||||||
5 | by changing Sections 1-10, 5-27, and 25-10 and by adding | ||||||
6 | Section 10-45 as follows:
| ||||||
7 | (225 ILCS 454/1-10)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2020)
| ||||||
9 | Sec. 1-10. Definitions. In this Act, unless the context | ||||||
10 | otherwise requires:
| ||||||
11 | "Act" means the Real Estate License Act of 2000.
| ||||||
12 | "Address of Record" means the designated address recorded | ||||||
13 | by the Department in the applicant's or licensee's application | ||||||
14 | file or license file as maintained by the Department's | ||||||
15 | licensure maintenance unit. It is the duty of the applicant or | ||||||
16 | licensee to inform the Department of any change of address, and | ||||||
17 | those changes must be made either through the Department's | ||||||
18 | website or by contacting the Department. | ||||||
19 | "Advisory Council" means the Real Estate Education | ||||||
20 | Advisory Council created
under Section 30-10 of this Act.
| ||||||
21 | "Agency" means a relationship in which a real estate broker | ||||||
22 | or licensee,
whether directly or through an affiliated | ||||||
23 | licensee, represents a consumer by
the consumer's consent, |
| |||||||
| |||||||
1 | whether express or implied, in a real property
transaction.
| ||||||
2 | "Applicant" means any person, as defined in this Section, | ||||||
3 | who applies to
the Department for a valid license as a real | ||||||
4 | estate broker, real estate salesperson, or
leasing agent.
| ||||||
5 | "Blind advertisement" means any real estate advertisement | ||||||
6 | that does not
include the sponsoring broker's business name and | ||||||
7 | that is used by any licensee
regarding the sale or lease of | ||||||
8 | real estate, including his or her own, licensed
activities, or | ||||||
9 | the hiring of any licensee under this Act. The broker's
| ||||||
10 | business name in the case of a franchise shall include the | ||||||
11 | franchise
affiliation as well as the name of the individual | ||||||
12 | firm.
| ||||||
13 | "Board" means the Real Estate Administration and | ||||||
14 | Disciplinary Board of the Department as created by Section | ||||||
15 | 25-10 of this Act.
| ||||||
16 | "Branch office" means a sponsoring broker's office other | ||||||
17 | than the sponsoring
broker's principal office.
| ||||||
18 | "Broker" means an individual, partnership, limited | ||||||
19 | liability company,
corporation, or registered limited | ||||||
20 | liability partnership other than a real
estate salesperson or | ||||||
21 | leasing agent who, whether in person or through any media or | ||||||
22 | technology, for another and for compensation, or
with the | ||||||
23 | intention or expectation of receiving compensation, either
| ||||||
24 | directly or indirectly:
| ||||||
25 | (1) Sells, exchanges, purchases, rents, or leases real | ||||||
26 | estate.
|
| |||||||
| |||||||
1 | (2) Offers to sell, exchange, purchase, rent, or lease | ||||||
2 | real estate.
| ||||||
3 | (3) Negotiates, offers, attempts, or agrees to | ||||||
4 | negotiate the sale,
exchange, purchase, rental, or leasing | ||||||
5 | of real estate.
| ||||||
6 | (4) Lists, offers, attempts, or agrees to list real | ||||||
7 | estate for sale,
lease, or exchange.
| ||||||
8 | (5) Buys, sells, offers to buy or sell, or otherwise | ||||||
9 | deals in options on
real estate or improvements thereon.
| ||||||
10 | (6) Supervises the collection, offer, attempt, or | ||||||
11 | agreement
to collect rent for the use of real estate.
| ||||||
12 | (7) Advertises or represents himself or herself as | ||||||
13 | being engaged in the
business of buying, selling, | ||||||
14 | exchanging, renting, or leasing real estate.
| ||||||
15 | (8) Assists or directs in procuring or referring of | ||||||
16 | leads or prospects, intended to
result in the sale, | ||||||
17 | exchange, lease, or rental of real estate.
| ||||||
18 | (9) Assists or directs in the negotiation of any | ||||||
19 | transaction intended to
result in the sale, exchange, | ||||||
20 | lease, or rental of real estate.
| ||||||
21 | (10) Opens real estate to the public for marketing | ||||||
22 | purposes.
| ||||||
23 | (11) Sells, leases, or offers for sale or lease real | ||||||
24 | estate at
auction.
| ||||||
25 | (12) Prepares or provides a broker price opinion or | ||||||
26 | comparative market analysis as those terms are defined in |
| |||||||
| |||||||
1 | this Act, pursuant to the provisions of Section 10-45 of | ||||||
2 | this Act. | ||||||
3 | "Brokerage agreement" means a written or oral agreement | ||||||
4 | between a sponsoring
broker and a consumer for licensed | ||||||
5 | activities to be provided to a consumer in
return for | ||||||
6 | compensation or the right to receive compensation from another.
| ||||||
7 | Brokerage agreements may constitute either a bilateral or a | ||||||
8 | unilateral
agreement between the broker and the broker's client | ||||||
9 | depending upon the content
of the brokerage agreement. All | ||||||
10 | exclusive brokerage agreements shall be in
writing.
| ||||||
11 | "Broker price opinion" means an estimate or analysis of the | ||||||
12 | probable selling price of a particular interest in real estate, | ||||||
13 | which may provide a varying level of detail about the | ||||||
14 | property's condition, market, and neighborhood and information | ||||||
15 | on comparable sales. The activities of a real estate broker or | ||||||
16 | managing broker engaging in the ordinary course of business as | ||||||
17 | a broker, as defined in this Section, shall not be considered a | ||||||
18 | broker price opinion if no compensation is paid to the broker | ||||||
19 | or managing broker, other than compensation based upon the sale | ||||||
20 | or rental of real estate. | ||||||
21 | "Client" means a person who is being represented by a | ||||||
22 | licensee.
| ||||||
23 | "Comparative market analysis" is an analysis or opinion | ||||||
24 | regarding pricing, marketing, or financial aspects relating to | ||||||
25 | a specified interest or interests in real estate that may be | ||||||
26 | based upon an analysis of comparative market data, the |
| |||||||
| |||||||
1 | expertise of the real estate broker or managing broker, and | ||||||
2 | such other factors as the broker or managing broker may deem | ||||||
3 | appropriate in developing or preparing such analysis or | ||||||
4 | opinion. The activities of a real estate broker or managing | ||||||
5 | broker engaging in the ordinary course of business as a broker, | ||||||
6 | as defined in this Section, shall not be considered a | ||||||
7 | comparative market analysis if no compensation is paid to the | ||||||
8 | broker or managing broker, other than compensation based upon | ||||||
9 | the sale or rental of real estate. | ||||||
10 | "Compensation" means the valuable consideration given by | ||||||
11 | one person or entity
to another person or entity in exchange | ||||||
12 | for the performance of some activity or
service. Compensation | ||||||
13 | shall include the transfer of valuable consideration,
| ||||||
14 | including without limitation the following:
| ||||||
15 | (1) commissions;
| ||||||
16 | (2) referral fees;
| ||||||
17 | (3) bonuses;
| ||||||
18 | (4) prizes;
| ||||||
19 | (5) merchandise;
| ||||||
20 | (6) finder fees;
| ||||||
21 | (7) performance of services;
| ||||||
22 | (8) coupons or gift certificates;
| ||||||
23 | (9) discounts;
| ||||||
24 | (10) rebates;
| ||||||
25 | (11) a chance to win a raffle, drawing, lottery, or | ||||||
26 | similar game of chance
not prohibited by any other law or |
| |||||||
| |||||||
1 | statute;
| ||||||
2 | (12) retainer fee; or
| ||||||
3 | (13) salary.
| ||||||
4 | "Confidential information" means information obtained by a | ||||||
5 | licensee from a
client during the term of a brokerage agreement | ||||||
6 | that (i) was made confidential
by the written request or | ||||||
7 | written instruction of the client, (ii) deals with
the | ||||||
8 | negotiating position of the client, or (iii) is information the | ||||||
9 | disclosure
of which could materially harm the negotiating | ||||||
10 | position of the client, unless
at any time:
| ||||||
11 | (1) the client permits the disclosure of information | ||||||
12 | given by that client
by word or conduct;
| ||||||
13 | (2) the disclosure is required by law; or
| ||||||
14 | (3) the information becomes public from a source other | ||||||
15 | than the licensee.
| ||||||
16 | "Confidential information" shall not be considered to | ||||||
17 | include material
information about the physical condition of | ||||||
18 | the property.
| ||||||
19 | "Consumer" means a person or entity seeking or receiving | ||||||
20 | licensed
activities.
| ||||||
21 | "Continuing education school" means any person licensed by | ||||||
22 | the Department as a school
for continuing education in | ||||||
23 | accordance with Section 30-15 of this Act. | ||||||
24 | "Coordinator" means the Coordinator of Real Estate created | ||||||
25 | in Section 25-15 of this Act.
| ||||||
26 | "Credit hour" means 50 minutes of classroom instruction in |
| |||||||
| |||||||
1 | course work that
meets the requirements set forth in rules | ||||||
2 | adopted by the Department.
| ||||||
3 | "Customer" means a consumer who is not being represented by | ||||||
4 | the licensee but
for whom the licensee is performing | ||||||
5 | ministerial acts.
| ||||||
6 | "Department" means the Department of Financial and | ||||||
7 | Professional Regulation. | ||||||
8 | "Designated agency" means a contractual relationship | ||||||
9 | between a sponsoring
broker and a client under Section 15-50 of | ||||||
10 | this Act in which one or more
licensees associated with or | ||||||
11 | employed by the broker are designated as agent of
the client.
| ||||||
12 | "Designated agent" means a sponsored licensee named by a | ||||||
13 | sponsoring broker as
the legal agent of a client, as provided | ||||||
14 | for in Section 15-50 of this Act.
| ||||||
15 | "Dual agency" means an agency relationship in which a | ||||||
16 | licensee is
representing both buyer and seller or both landlord | ||||||
17 | and tenant in the same
transaction. When the agency | ||||||
18 | relationship is a designated agency, the
question of whether | ||||||
19 | there is a dual agency shall be determined by the agency
| ||||||
20 | relationships of the designated agent of the parties and not of | ||||||
21 | the sponsoring
broker.
| ||||||
22 | "Employee" or other derivative of the word "employee", when | ||||||
23 | used to refer to,
describe, or delineate the relationship | ||||||
24 | between a real estate broker and a real
estate salesperson, | ||||||
25 | another real estate broker, or a leasing agent, shall be
| ||||||
26 | construed to include an independent contractor relationship, |
| |||||||
| |||||||
1 | provided that a
written agreement exists that clearly | ||||||
2 | establishes and states the relationship.
All responsibilities | ||||||
3 | of a broker shall remain.
| ||||||
4 | "Escrow moneys" means all moneys, promissory notes or any | ||||||
5 | other type or
manner of legal tender or financial consideration | ||||||
6 | deposited with any person for
the benefit of the parties to the | ||||||
7 | transaction. A transaction exists once an
agreement has been | ||||||
8 | reached and an accepted real estate contract signed or lease
| ||||||
9 | agreed to by the parties. Escrow moneys includes without | ||||||
10 | limitation earnest
moneys and security deposits, except those | ||||||
11 | security deposits in which the
person holding the security | ||||||
12 | deposit is also the sole owner of the property
being leased and | ||||||
13 | for which the security deposit is being held.
| ||||||
14 | "Electronic means of proctoring" means a methodology | ||||||
15 | providing assurance that the person taking a test and | ||||||
16 | completing the answers to questions is the person seeking | ||||||
17 | licensure or credit for continuing education and is doing so | ||||||
18 | without the aid of a third party or other device. | ||||||
19 | "Exclusive brokerage agreement" means a written brokerage | ||||||
20 | agreement that provides that the sponsoring broker has the sole | ||||||
21 | right, through one or more sponsored licensees, to act as the | ||||||
22 | exclusive designated agent or representative of the client and | ||||||
23 | that meets the requirements of Section 15-75 of this Act.
| ||||||
24 | "Inoperative" means a status of licensure where the | ||||||
25 | licensee holds a current
license under this Act, but the | ||||||
26 | licensee is prohibited from engaging in
licensed activities |
| |||||||
| |||||||
1 | because the licensee is unsponsored or the license of the
| ||||||
2 | sponsoring broker with whom the licensee is associated or by | ||||||
3 | whom he or she is
employed is currently expired, revoked, | ||||||
4 | suspended, or otherwise rendered
invalid under this Act.
| ||||||
5 | "Interactive delivery method" means delivery of a course by | ||||||
6 | an instructor through a medium allowing for 2-way communication | ||||||
7 | between the instructor and a student in which either can | ||||||
8 | initiate or respond to questions. | ||||||
9 | "Leads" means the name or names of a potential buyer, | ||||||
10 | seller, lessor, lessee, or client of a licensee. | ||||||
11 | "Leasing Agent" means a person who is employed by a real | ||||||
12 | estate broker to
engage in licensed activities limited to | ||||||
13 | leasing residential real estate who
has obtained a license as | ||||||
14 | provided for in Section 5-5 of this Act.
| ||||||
15 | "License" means the document issued by the Department | ||||||
16 | certifying that the person named
thereon has fulfilled all | ||||||
17 | requirements prerequisite to licensure under this
Act.
| ||||||
18 | "Licensed activities" means those activities listed in the | ||||||
19 | definition of
"broker" under this Section.
| ||||||
20 | "Licensee" means any person, as defined in this Section, | ||||||
21 | who holds a
valid unexpired license as a real estate broker, | ||||||
22 | real estate salesperson, or
leasing agent.
| ||||||
23 | "Listing presentation" means a communication between a | ||||||
24 | real estate broker or
salesperson and a consumer in which the | ||||||
25 | licensee is attempting to secure a
brokerage agreement with the | ||||||
26 | consumer to market the consumer's real estate for
sale or |
| |||||||
| |||||||
1 | lease.
| ||||||
2 | "Managing broker" means a broker who has supervisory | ||||||
3 | responsibilities for
licensees in one or, in the case of a | ||||||
4 | multi-office company, more than one
office and who has been | ||||||
5 | appointed as such by the sponsoring broker.
| ||||||
6 | "Medium of advertising" means any method of communication | ||||||
7 | intended to
influence the general public to use or purchase a | ||||||
8 | particular good or service or
real estate.
| ||||||
9 | "Ministerial acts" means those acts that a licensee may | ||||||
10 | perform for a
consumer that are informative or clerical in | ||||||
11 | nature and do not rise to the
level of active representation on | ||||||
12 | behalf of a consumer. Examples of these acts
include without | ||||||
13 | limitation (i) responding to phone inquiries by consumers as to
| ||||||
14 | the availability and pricing of brokerage services, (ii) | ||||||
15 | responding to phone
inquiries from a consumer concerning the | ||||||
16 | price or location of property, (iii)
attending an open house | ||||||
17 | and responding to questions about the property from a
consumer, | ||||||
18 | (iv) setting an appointment to view property, (v) responding to
| ||||||
19 | questions of consumers walking into a licensee's office | ||||||
20 | concerning brokerage
services offered or particular | ||||||
21 | properties, (vi) accompanying an appraiser,
inspector, | ||||||
22 | contractor, or similar third party on a visit to a property, | ||||||
23 | (vii)
describing a property or the property's condition in | ||||||
24 | response to a consumer's
inquiry, (viii) completing business or | ||||||
25 | factual information for a consumer on an
offer or contract to | ||||||
26 | purchase on behalf of a client, (ix) showing a client
through a |
| |||||||
| |||||||
1 | property being sold by an owner on his or her own behalf, or | ||||||
2 | (x)
referral to another broker or service provider.
| ||||||
3 | "Office" means a real estate broker's place of business | ||||||
4 | where the general
public is invited to transact business and | ||||||
5 | where records may be maintained and
licenses displayed, whether | ||||||
6 | or not it is the broker's principal place of
business.
| ||||||
7 | "Person" means and includes individuals, entities, | ||||||
8 | corporations, limited
liability companies, registered limited | ||||||
9 | liability partnerships, and
partnerships, foreign or domestic, | ||||||
10 | except that when the context otherwise
requires, the term may | ||||||
11 | refer to a single individual or other described entity.
| ||||||
12 | "Personal assistant" means a licensed or unlicensed person | ||||||
13 | who has been hired
for the purpose of aiding or assisting a | ||||||
14 | sponsored licensee in the performance
of the sponsored | ||||||
15 | licensee's job.
| ||||||
16 | "Pocket card" means the card issued by the Department to | ||||||
17 | signify that the person named
on the card is currently licensed | ||||||
18 | under this Act.
| ||||||
19 | "Pre-license school" means a school licensed by the | ||||||
20 | Department offering courses in
subjects related to real estate | ||||||
21 | transactions, including the subjects upon
which an applicant is | ||||||
22 | examined in determining fitness to receive a license.
| ||||||
23 | "Pre-renewal period" means the period between the date of | ||||||
24 | issue of a
currently valid license and the license's expiration | ||||||
25 | date.
| ||||||
26 | "Proctor" means any person, including, but not limited to, |
| |||||||
| |||||||
1 | an instructor, who has a written agreement to administer | ||||||
2 | examinations fairly and impartially with a licensed | ||||||
3 | pre-license school or a licensed continuing education school. | ||||||
4 | "Real estate" means and includes leaseholds as well as any | ||||||
5 | other interest or
estate in land, whether corporeal, | ||||||
6 | incorporeal, freehold, or non-freehold,
including timeshare | ||||||
7 | interests, and whether the real estate is situated in this
| ||||||
8 | State or elsewhere.
| ||||||
9 | "Regular employee" means a person working an average of 20 | ||||||
10 | hours per week for a person or entity who would be considered | ||||||
11 | as an employee under the Internal Revenue Service eleven main | ||||||
12 | tests in three categories being behavioral control, financial | ||||||
13 | control and the type of relationship of the parties, formerly | ||||||
14 | the twenty factor test.
| ||||||
15 | "Salesperson" means any individual, other than a real | ||||||
16 | estate broker or
leasing agent, who is employed by a real | ||||||
17 | estate broker or is associated by
written agreement with a real | ||||||
18 | estate broker as an independent contractor and
participates in | ||||||
19 | any activity described in the definition of "broker" under this
| ||||||
20 | Section.
| ||||||
21 | "Secretary" means the Secretary of the Department of | ||||||
22 | Financial and Professional Regulation, or a person authorized | ||||||
23 | by the Secretary to act in the Secretary's stead. | ||||||
24 | "Sponsoring broker" means the broker who has issued a | ||||||
25 | sponsor card to a
licensed salesperson, another licensed | ||||||
26 | broker, or a leasing agent.
|
| |||||||
| |||||||
1 | "Sponsor card" means the temporary permit issued by the | ||||||
2 | sponsoring real
estate broker certifying that the real estate | ||||||
3 | broker, real estate salesperson,
or leasing agent named thereon | ||||||
4 | is employed by or associated by written
agreement with the | ||||||
5 | sponsoring real estate broker, as provided for in Section
5-40 | ||||||
6 | of this Act.
| ||||||
7 | (Source: P.A. 98-531, eff. 8-23-13.)
| ||||||
8 | (225 ILCS 454/5-27) | ||||||
9 | (Section scheduled to be repealed on January 1, 2020) | ||||||
10 | Sec. 5-27. Requirements for licensure as a broker. | ||||||
11 | (a) Every applicant for licensure as a broker must meet the | ||||||
12 | following qualifications: | ||||||
13 | (1) Be at least 21 years of age. After April 30, 2011, | ||||||
14 | the minimum age of 21 years shall be waived for any person | ||||||
15 | seeking a license as a broker who has attained the age of | ||||||
16 | 18 and can provide evidence of the successful completion of | ||||||
17 | at least 4 semesters of post-secondary school study as a | ||||||
18 | full-time student or the equivalent, with major emphasis on | ||||||
19 | real estate courses, in a school approved by the | ||||||
20 | Department; | ||||||
21 | (2) Be of good moral character; | ||||||
22 | (3) Successfully complete a 4-year course of study in a | ||||||
23 | high school or secondary school approved by the Illinois | ||||||
24 | State Board of Education or an equivalent course of study | ||||||
25 | as determined by an examination conducted by the Illinois |
| |||||||
| |||||||
1 | State Board of Education which shall be verified under oath | ||||||
2 | by the applicant; | ||||||
3 | (4) Prior to May 1, 2011, provide (i) satisfactory | ||||||
4 | evidence of having completed at least 120 classroom hours, | ||||||
5 | 45 of which shall be those hours required to obtain a | ||||||
6 | salesperson's license plus 15 hours in brokerage | ||||||
7 | administration courses, in real estate courses approved by | ||||||
8 | the Advisory Council or (ii) for applicants who currently | ||||||
9 | hold a valid real estate salesperson's license, give | ||||||
10 | satisfactory evidence of having completed at least 75 hours | ||||||
11 | in real estate courses, not including the courses that are | ||||||
12 | required to obtain a salesperson's license, approved by the | ||||||
13 | Advisory Council; | ||||||
14 | (5) After April 30, 2011, provide satisfactory | ||||||
15 | evidence of having completed 90 hours of instruction in | ||||||
16 | real estate courses approved by the Advisory Council, 15 | ||||||
17 | hours of which must consist of situational and case studies | ||||||
18 | presented in the classroom or by other interactive delivery | ||||||
19 | method presenting instruction and real time discussion | ||||||
20 | between the instructor and the students; | ||||||
21 | (6) Personally take and pass a written examination | ||||||
22 | authorized by the Department; | ||||||
23 | (7) Present a valid application for issuance of a | ||||||
24 | license accompanied by a sponsor card and the fees | ||||||
25 | specified by rule. | ||||||
26 | (b) The requirements specified in items (4) and (5) of |
| |||||||
| |||||||
1 | subsection (a) of this Section do not apply to applicants who | ||||||
2 | are currently admitted to practice law by the Supreme Court of | ||||||
3 | Illinois and are currently in active standing. | ||||||
4 | (c) No applicant shall engage in any of the activities | ||||||
5 | covered by this Act until a valid sponsor card has been issued | ||||||
6 | to such applicant. The sponsor card shall be valid for a | ||||||
7 | maximum period of 45 days after the date of issuance unless | ||||||
8 | extended for good cause as provided by rule. | ||||||
9 | (d) All licenses should be readily available to the public | ||||||
10 | at their place of business.
| ||||||
11 | (e) An individual holding an active license as a managing | ||||||
12 | broker may return the license to the Department along with a | ||||||
13 | form provided by the Department and shall be issued a broker's | ||||||
14 | license in exchange. Any individual obtaining a broker's | ||||||
15 | license under this subsection (e) shall be considered as having | ||||||
16 | obtained a broker's license by education and passing the | ||||||
17 | required test and shall be treated as such in determining | ||||||
18 | compliance with this Act. | ||||||
19 | (Source: P.A. 98-531, eff. 8-23-13.) | ||||||
20 | (225 ILCS 454/10-45 new) | ||||||
21 | Sec. 10-45. Broker price opinions and comparative market | ||||||
22 | analyses. | ||||||
23 | (a) A broker price opinion or comparative market analysis | ||||||
24 | may be prepared or provided by a real estate broker or managing | ||||||
25 | broker for any of the following: |
| |||||||
| |||||||
1 | (1) an existing or potential buyer or seller of an | ||||||
2 | interest in real estate; | ||||||
3 | (2) an existing or potential lessor or lessee of an | ||||||
4 | interest in real estate; | ||||||
5 | (3) a third party making decisions or performing due | ||||||
6 | diligence related to the potential listing, offering, | ||||||
7 | sale, option, lease, or acquisition price of an interest in | ||||||
8 | real estate; or | ||||||
9 | (4) an existing or potential lienholder or other third | ||||||
10 | party for any purpose other than as the primary basis to | ||||||
11 | determine the market value of an interest in real estate | ||||||
12 | for the purpose of a mortgage loan origination by a | ||||||
13 | financial institution secured by such real estate. | ||||||
14 | (b) A broker price opinion or comparative market analysis | ||||||
15 | shall be in writing either on paper or electronically and shall | ||||||
16 | include the following provisions: | ||||||
17 | (1) a statement of the intended purpose of the broker | ||||||
18 | price opinion or comparative market analysis; | ||||||
19 | (2) a brief description of the interest in real estate | ||||||
20 | that is the subject of the broker price opinion or | ||||||
21 | comparative market analysis; | ||||||
22 | (3) a brief description of the methodology used to | ||||||
23 | develop the broker price opinion or comparative market | ||||||
24 | analysis; | ||||||
25 | (4) any assumptions or limiting conditions; | ||||||
26 | (5) a disclosure of any existing or contemplated |
| |||||||
| |||||||
1 | interest of the broker or managing broker in the interest | ||||||
2 | in real estate that is the subject of the broker price | ||||||
3 | opinion or comparative market analysis; | ||||||
4 | (6) the name, license number, and signature of the | ||||||
5 | broker or managing broker that developed the broker price | ||||||
6 | opinion or comparative market analysis; | ||||||
7 | (7) a statement in substantially the following form: | ||||||
8 | "This is a broker price opinion/comparative market | ||||||
9 | analysis, not an appraisal of the market value of the real | ||||||
10 | estate, and was prepared by a licensed real estate broker | ||||||
11 | or managing broker, not by a State certified real estate | ||||||
12 | appraiser."; and | ||||||
13 | (8) such other items as the broker or managing broker | ||||||
14 | may deem appropriate.
| ||||||
15 | (225 ILCS 454/25-10)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2020)
| ||||||
17 | Sec. 25-10. Real Estate Administration and Disciplinary
| ||||||
18 | Board;
duties.
There is created the Real Estate Administration | ||||||
19 | and Disciplinary Board.
The Board shall be composed of 9 | ||||||
20 | persons appointed by the Governor. Members
shall be
appointed | ||||||
21 | to the Board subject to the following conditions:
| ||||||
22 | (1) All members shall have been residents and citizens | ||||||
23 | of this State for
at least 6 years
prior to the date of | ||||||
24 | appointment.
| ||||||
25 | (2) Six members shall have been actively engaged as |
| |||||||
| |||||||
1 | brokers or
salespersons or both for
at least the 10 years | ||||||
2 | prior to the appointment.
| ||||||
3 | (3) Three members of the Board shall be public members | ||||||
4 | who represent
consumer
interests.
| ||||||
5 | None of these members shall be (i) a person who is licensed | ||||||
6 | under this
Act or a similar Act of another jurisdiction, (ii) | ||||||
7 | the spouse or family member of a licensee, (iii) a person who | ||||||
8 | has an ownership interest in a
real estate brokerage
business, | ||||||
9 | or (iv) a person the Department determines to have any other | ||||||
10 | connection with a real estate brokerage business or a licensee.
| ||||||
11 | The members' terms shall be 4 years or until their successor is | ||||||
12 | appointed, and the expiration of their terms shall be
| ||||||
13 | staggered.
Appointments to fill vacancies shall be for the | ||||||
14 | unexpired portion of the term. No
member shall be reappointed | ||||||
15 | to the Board for a term that would cause his or her service on | ||||||
16 | the Board to be longer than 12 years in a lifetime.
The | ||||||
17 | membership of the Board should reasonably reflect the | ||||||
18 | geographic
distribution of the licensee
population in this | ||||||
19 | State. In making the appointments, the Governor shall give
due | ||||||
20 | consideration
to the recommendations by members and | ||||||
21 | organizations of the profession.
The Governor may terminate the | ||||||
22 | appointment of any member for cause that in the
opinion of the
| ||||||
23 | Governor reasonably justifies the termination. Cause for | ||||||
24 | termination shall
include without limitation
misconduct, | ||||||
25 | incapacity, neglect of duty, or missing 4 board meetings during | ||||||
26 | any
one
calendar year.
Each member of the Board may receive a |
| |||||||
| |||||||
1 | per diem stipend in an amount to be
determined by the | ||||||
2 | Secretary. Each member shall be paid his or her necessary | ||||||
3 | expenses while
engaged in the
performance of his or her duties. | ||||||
4 | Such compensation and expenses shall be paid
out of the Real | ||||||
5 | Estate
License Administration Fund.
The Secretary shall | ||||||
6 | consider the recommendations of the Board on questions
| ||||||
7 | involving
standards of professional conduct, discipline, and | ||||||
8 | examination of candidates
under this Act. The Department, after | ||||||
9 | notifying and considering the recommendations of the Board, if | ||||||
10 | any,
may issue rules,
consistent with the provisions of this | ||||||
11 | Act, for the administration and
enforcement thereof and may
| ||||||
12 | prescribe forms that shall be used in connection therewith. | ||||||
13 | Five Board members shall constitute a quorum. A quorum is | ||||||
14 | required for all Board decisions.
| ||||||
15 | (Source: P.A. 96-856, eff. 12-31-09.)
| ||||||
16 | Section 10. The Real Estate Appraiser Licensing Act of 2002 | ||||||
17 | is amended by changing Sections 1-5, 1-10, 5-5, 5-10, 5-15, | ||||||
18 | 5-20, 5-30, 5-35, 5-40, 5-50, 10-5, 15-10, 20-5, 20-10, 25-10, | ||||||
19 | and 25-15 and by adding Section 5-22 as follows:
| ||||||
20 | (225 ILCS 458/1-5)
| ||||||
21 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
22 | Sec. 1-5. Legislative intent. The intent of the General | ||||||
23 | Assembly in
enacting this Act is to
evaluate the competency of | ||||||
24 | persons engaged in the appraisal of real estate in
connection |
| |||||||
| |||||||
1 | with a federally related transaction and
to license and | ||||||
2 | regulate
those persons for the protection of the public. | ||||||
3 | Additionally, it is the intent
of the General Assembly for
this | ||||||
4 | Act to be consistent with the provisions of Title XI of the | ||||||
5 | federal
Financial Institutions Reform,
Recovery and | ||||||
6 | Enforcement Act of 1989.
| ||||||
7 | (Source: P.A. 92-180, eff. 7-1-02 .)
| ||||||
8 | (225 ILCS 458/1-10)
| ||||||
9 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
10 | Sec. 1-10. Definitions. As used in this Act, unless the | ||||||
11 | context
otherwise requires:
| ||||||
12 | "Accredited college or university, junior college, or | ||||||
13 | community college" means a college or university, junior | ||||||
14 | college, or community college that is approved or accredited by | ||||||
15 | the Board of Higher Education, a regional or national | ||||||
16 | accreditation association, or by an accrediting agency that is | ||||||
17 | recognized by the U.S. Secretary of Education.
| ||||||
18 | "Address of record" means the designated address recorded | ||||||
19 | by the Department in the applicant's or licensee's application | ||||||
20 | file or license file as maintained by the Department's | ||||||
21 | licensure maintenance unit. It is the duty of the applicant or | ||||||
22 | licensee to inform the Department of any change of address and | ||||||
23 | those changes must be made either through the Department's | ||||||
24 | website or by contacting the Department. | ||||||
25 | "Applicant" means person who applies to the Department
for |
| |||||||
| |||||||
1 | a license under this Act.
| ||||||
2 | "Appraisal" means
(noun) the act or process of developing | ||||||
3 | an opinion
of value; an
opinion of value (adjective) of or | ||||||
4 | pertaining to appraising
and related functions, such as | ||||||
5 | appraisal practice or appraisal services. | ||||||
6 | "Appraisal assignment" means a valuation service provided | ||||||
7 | as a consequence of an agreement between an appraiser and a | ||||||
8 | client. | ||||||
9 | "Appraisal consulting" means the act or process of | ||||||
10 | developing an analysis, recommendation, or opinion to solve a | ||||||
11 | problem, where an opinion of value is a component of the | ||||||
12 | analysis leading to the assignment results. | ||||||
13 | "Appraisal firm" means an appraisal entity that is 100% | ||||||
14 | owned and controlled by a person or persons licensed in | ||||||
15 | Illinois as a certified general real estate appraiser or a | ||||||
16 | certified residential real estate appraiser. "Appraisal firm" | ||||||
17 | does not include an appraisal management company. | ||||||
18 | "Appraisal management company" means any corporation, | ||||||
19 | limited liability company, partnership, sole proprietorship, | ||||||
20 | subsidiary, unit, or other business entity that directly or | ||||||
21 | indirectly performs the following appraisal management | ||||||
22 | services: (1) administers networks of independent contractors | ||||||
23 | or employee appraisers to perform real estate appraisal | ||||||
24 | assignments for clients; (2) receives requests for real estate | ||||||
25 | appraisal services from clients and, for a fee paid by the | ||||||
26 | client, enters into an agreement with one or more independent |
| |||||||
| |||||||
1 | appraisers to perform the real estate appraisal services | ||||||
2 | contained in the request; or (3) otherwise serves as a | ||||||
3 | third-party broker of appraisal management services between | ||||||
4 | clients and appraisers. "Appraisal management company" does | ||||||
5 | not include an appraisal firm. | ||||||
6 | "Appraisal practice" means valuation services performed by | ||||||
7 | an individual acting as an appraiser, including, but not | ||||||
8 | limited to, appraisal, appraisal review, or appraisal | ||||||
9 | consulting.
| ||||||
10 | "Appraisal report" means any communication, written or | ||||||
11 | oral, of an appraisal or , appraisal review , or appraisal | ||||||
12 | consulting service that is transmitted to a client upon | ||||||
13 | completion of an assignment.
| ||||||
14 | "Appraisal review" means the act or process of developing | ||||||
15 | and communicating an opinion about the quality of another | ||||||
16 | appraiser's work that was performed as part of an appraisal, | ||||||
17 | appraisal review, or appraisal assignment.
| ||||||
18 | "Appraisal Subcommittee" means the Appraisal Subcommittee | ||||||
19 | of the Federal
Financial Institutions
Examination Council as | ||||||
20 | established by Title XI.
| ||||||
21 | "Appraiser" means a person who performs
real estate or real | ||||||
22 | property
appraisals.
| ||||||
23 | "AQB" means the Appraisal Qualifications Board of the | ||||||
24 | Appraisal Foundation.
| ||||||
25 | "Associate real estate trainee appraiser" means an | ||||||
26 | entry-level appraiser who holds
a license of this |
| |||||||
| |||||||
1 | classification under this Act with restrictions as to the scope | ||||||
2 | of practice
in
accordance with this Act.
| ||||||
3 | "Board" means the Real Estate Appraisal Administration and | ||||||
4 | Disciplinary Board.
| ||||||
5 | "Broker price opinion" means an estimate or analysis of the | ||||||
6 | probable selling price of a particular interest in real estate, | ||||||
7 | which may provide a varying level of detail about the | ||||||
8 | property's condition, market, and neighborhood and information | ||||||
9 | on comparable sales. The activities of a real estate broker or | ||||||
10 | managing broker engaging in the ordinary course of business as | ||||||
11 | a broker, as defined in this Section, shall not be considered a | ||||||
12 | broker price opinion if no compensation is paid to the broker | ||||||
13 | or managing broker, other than compensation based upon the sale | ||||||
14 | or rental of real estate. | ||||||
15 | "Classroom hour" means 50 minutes of instruction out of | ||||||
16 | each 60 minute
segment of coursework.
| ||||||
17 | "Client" means the party or parties who engage an appraiser | ||||||
18 | by employment or contract in a specific appraisal assignment.
| ||||||
19 | "Comparative market analysis" is an analysis or opinion | ||||||
20 | regarding pricing, marketing, or financial aspects relating to | ||||||
21 | a specified interest or interests in real estate that may be | ||||||
22 | based upon an analysis of comparative market data, the | ||||||
23 | expertise of the real estate broker or managing broker, and | ||||||
24 | such other factors as the broker or managing broker may deem | ||||||
25 | appropriate in developing or preparing such analysis or | ||||||
26 | opinion. The activities of a real estate broker or managing |
| |||||||
| |||||||
1 | broker engaging in the ordinary course of business as a broker, | ||||||
2 | as defined in this Section, shall not be considered a | ||||||
3 | comparative market analysis if no compensation is paid to the | ||||||
4 | broker or managing broker, other than compensation based upon | ||||||
5 | the sale or rental of real estate. | ||||||
6 | "Coordinator" means the Coordinator of Real Estate | ||||||
7 | Appraisal of the Division of Professional Regulation of the | ||||||
8 | Department of Financial and Professional Regulation.
| ||||||
9 | "Department" means the Department of Financial and | ||||||
10 | Professional Regulation.
| ||||||
11 | "Federal financial institutions regulatory agencies" means | ||||||
12 | the Board of
Governors of the Federal Reserve
System, the | ||||||
13 | Federal Deposit Insurance Corporation, the Office of the
| ||||||
14 | Comptroller of the Currency, the
Consumer Financial Protection | ||||||
15 | Bureau Office of Thrift Supervision , and the National Credit | ||||||
16 | Union Administration.
| ||||||
17 | "Federally related transaction" means any real | ||||||
18 | estate-related financial
transaction in which a federal
| ||||||
19 | financial institutions regulatory agency , the Department of | ||||||
20 | Housing
and Urban Development, Fannie Mae, Freddie Mae, or the | ||||||
21 | National
Credit Union Administration
engages in, contracts | ||||||
22 | for, or
regulates and requires the services
of an appraiser.
| ||||||
23 | "Financial institution" means any bank, savings bank, | ||||||
24 | savings and loan
association, credit union,
mortgage broker, | ||||||
25 | mortgage banker, licensee under the Consumer Installment Loan
| ||||||
26 | Act or the Sales
Finance Agency Act, or a corporate fiduciary, |
| |||||||
| |||||||
1 | subsidiary, affiliate, parent
company, or holding company
of | ||||||
2 | any such licensee, or any institution involved in real estate | ||||||
3 | financing that
is regulated by state or
federal law.
| ||||||
4 | "Modular Course" means the Appraisal Qualifying Course | ||||||
5 | Design conforming to the Sub Topics Course Outline contained in | ||||||
6 | the AQB Criteria 2008.
| ||||||
7 | "Person" means an individual, entity, sole proprietorship, | ||||||
8 | corporation, limited liability company, partnership, and joint | ||||||
9 | venture, foreign or domestic, except that when the context | ||||||
10 | otherwise requires, the term may refer to more than one | ||||||
11 | individual or other described entity. | ||||||
12 | "Real estate" means an identified parcel or tract of land, | ||||||
13 | including any
improvements.
| ||||||
14 | "Real estate related financial transaction" means any | ||||||
15 | transaction involving:
| ||||||
16 | (1) the sale, lease, purchase, investment in, or | ||||||
17 | exchange of real
property,
including interests
in property | ||||||
18 | or the financing thereof;
| ||||||
19 | (2) the refinancing of real property or interests in | ||||||
20 | real property; and
| ||||||
21 | (3) the use of real property or interest in property as | ||||||
22 | security for a
loan or
investment,
including mortgage | ||||||
23 | backed securities.
| ||||||
24 | "Real property" means the interests, benefits, and rights | ||||||
25 | inherent in the
ownership of real estate.
| ||||||
26 | "Secretary" means the Secretary of Financial and |
| |||||||
| |||||||
1 | Professional Regulation.
| ||||||
2 | "State certified general real estate
appraiser" means an | ||||||
3 | appraiser who holds a
license of this classification under this | ||||||
4 | Act
and such classification applies to
the appraisal of all | ||||||
5 | types of real property without restrictions as to
the scope of | ||||||
6 | practice.
| ||||||
7 | "State certified residential real estate
appraiser" means | ||||||
8 | an appraiser who
holds a
license of this classification
under | ||||||
9 | this Act
and such classification applies to
the appraisal of
| ||||||
10 | one to 4 units of
residential real property without regard to | ||||||
11 | transaction value or complexity,
but with restrictions as to | ||||||
12 | the
scope of practice
in a federally related transaction in | ||||||
13 | accordance with Title
XI, the provisions of USPAP,
criteria | ||||||
14 | established by the AQB, and further defined by rule.
| ||||||
15 | "Supervising appraiser" means either (i) an appraiser who | ||||||
16 | holds a valid license under this Act as either a State | ||||||
17 | certified general real estate appraiser or a State certified | ||||||
18 | residential real estate appraiser, who co-signs an appraisal | ||||||
19 | report for an associate real estate trainee appraiser or (ii) a | ||||||
20 | State certified general real estate appraiser who holds a valid | ||||||
21 | license under this Act who co-signs an appraisal report for a | ||||||
22 | State certified residential real estate appraiser on | ||||||
23 | properties other than one to 4 units of residential real | ||||||
24 | property without regard to transaction value or complexity.
| ||||||
25 | "Title XI" means Title XI of the federal Financial | ||||||
26 | Institutions Reform,
Recovery and
Enforcement Act of 1989.
|
| |||||||
| |||||||
1 | "USPAP" means the Uniform Standards of Professional | ||||||
2 | Appraisal Practice as
promulgated by the
Appraisal Standards | ||||||
3 | Board pursuant to Title XI and by rule.
| ||||||
4 | "Valuation services" means services pertaining to aspects | ||||||
5 | of property value. | ||||||
6 | (Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
| ||||||
7 | (225 ILCS 458/5-5)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
9 | Sec. 5-5. Necessity of license; use of title; exemptions.
| ||||||
10 | (a) It
is unlawful for a person to (i) act, offer services, | ||||||
11 | or advertise services
as a State certified general real estate
| ||||||
12 | appraiser, State certified residential real estate appraiser, | ||||||
13 | or associate real estate trainee appraiser, (ii)
develop a real | ||||||
14 | estate appraisal,
(iii)
practice as a real estate
appraiser, or | ||||||
15 | (iv)
advertise or hold himself or herself out to be a real | ||||||
16 | estate
appraiser
without a license issued under this Act. A | ||||||
17 | person who
violates this subsection is
guilty of a Class A | ||||||
18 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
19 | subsequent offense.
| ||||||
20 | (a-5) It is unlawful for a person, unless registered as an | ||||||
21 | appraisal management company, to solicit clients or enter into | ||||||
22 | an appraisal engagement with clients without either a certified | ||||||
23 | residential real estate appraiser license or a certified | ||||||
24 | general real estate appraiser license issued under this Act. A | ||||||
25 | person who violates this subsection is guilty of a Class A |
| |||||||
| |||||||
1 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
2 | subsequent offense. | ||||||
3 | (b) It
is unlawful for a person, other than a
person who | ||||||
4 | holds a valid license issued pursuant to this
Act as a State | ||||||
5 | certified general real estate appraiser, a
State
certified
| ||||||
6 | residential real estate appraiser,
or an associate real estate | ||||||
7 | trainee appraiser to use these titles or any other title, | ||||||
8 | designation, or
abbreviation likely to create the
impression | ||||||
9 | that the person is licensed as a real estate appraiser pursuant | ||||||
10 | to
this Act. A person who
violates this subsection is guilty of | ||||||
11 | a Class A misdemeanor for a first offense and a Class 4 felony | ||||||
12 | for any subsequent offense.
| ||||||
13 | (c) This Act does not apply to a person who holds a valid | ||||||
14 | license as a real estate broker or managing broker pursuant to | ||||||
15 | the Real Estate License Act of 2000 who prepares or provides a | ||||||
16 | broker price opinion or comparative market analysis in | ||||||
17 | compliance with Section 10-45 of the Real Estate License Act of | ||||||
18 | 2000.
The licensing requirements of this Act
do not
require a | ||||||
19 | person who holds a
valid license pursuant to the Real Estate | ||||||
20 | License Act of 2000, to be licensed
as a real estate appraiser
| ||||||
21 | under this Act,
unless that person is
providing
or attempting | ||||||
22 | to provide an appraisal report, as defined in Section
1-10 of | ||||||
23 | this Act, in connection with a federally-related transaction. | ||||||
24 | Nothing in this Act shall prohibit a person who holds a valid | ||||||
25 | license under the Real Estate License Act of 2000 from | ||||||
26 | performing a comparative market analysis or broker price |
| |||||||
| |||||||
1 | opinion for compensation, provided that the person does not | ||||||
2 | hold himself out as being a licensed real estate appraiser. | ||||||
3 | (d) Nothing in this Act shall preclude a State certified | ||||||
4 | general real estate appraiser, a State certified residential | ||||||
5 | real estate appraiser, or an associate real estate trainee | ||||||
6 | appraiser from rendering appraisals for or on behalf of a | ||||||
7 | partnership, association, corporation, firm, or group. | ||||||
8 | However, no State appraisal license or certification shall be | ||||||
9 | issued under this Act to a partnership, association, | ||||||
10 | corporation, firm, or group.
| ||||||
11 | (e) This Act does not apply to a county assessor, township | ||||||
12 | assessor, multi-township assessor, county supervisor of | ||||||
13 | assessments, or any deputy or employee of any county assessor, | ||||||
14 | township assessor, multi-township assessor, or county | ||||||
15 | supervisor of assessments who is performing his or her | ||||||
16 | respective duties in accordance with the provisions of the | ||||||
17 | Property Tax Code.
| ||||||
18 | (e-5) For the purposes of this Act, valuation waivers may | ||||||
19 | be prepared by a licensed appraiser notwithstanding any other | ||||||
20 | provision of this Act, and the following types of valuations | ||||||
21 | are not appraisals and may not be represented to be appraisals, | ||||||
22 | and a license is not required under this Act to
perform such | ||||||
23 | valuations if the valuations are performed by (1) an employee | ||||||
24 | of the Illinois Department of Transportation who has completed | ||||||
25 | a minimum of 45 hours of course work in real estate appraisal, | ||||||
26 | including the principals of real estate appraisals, appraisal |
| |||||||
| |||||||
1 | of partial acquisitions, easement valuation, reviewing | ||||||
2 | appraisals in eminent domain, appraisal for federal aid highway | ||||||
3 | programs, and appraisal review for federal aid highway programs | ||||||
4 | and has at least 2 years' experience in a field closely related | ||||||
5 | to real estate or (2) a county engineer who is a registered | ||||||
6 | professional engineer under the Professional Engineering | ||||||
7 | Practice Act of 1989, under the following circumstances: | ||||||
8 | (A) a valuation waiver in an amount not to exceed | ||||||
9 | $10,000 prepared pursuant to the federal Uniform | ||||||
10 | Relocation Assistance and Real Property Acquisition | ||||||
11 | Policies Act of 1970, or prepared pursuant to the federal | ||||||
12 | Uniform Relocation Assistance and Real Property | ||||||
13 | Acquisition for Federal and Federally-Assisted Programs | ||||||
14 | regulations and which is performed by an employee of the | ||||||
15 | Illinois Department of Transportation and co-signed, with | ||||||
16 | a license number affixed, by another employee of the | ||||||
17 | Illinois Department of Transportation who is a registered | ||||||
18 | professional engineer under the Professional Engineering | ||||||
19 | Practice Act of 1989; and | ||||||
20 | (B) a valuation waiver in an amount not to exceed | ||||||
21 | $10,000 prepared pursuant to the federal Uniform | ||||||
22 | Relocation Assistance and Real Property Acquisition | ||||||
23 | Policies Act of 1970, or prepared pursuant to the federal | ||||||
24 | Uniform Relocation Assistance and Real Property | ||||||
25 | Acquisition for Federal and Federally-Assisted Programs | ||||||
26 | regulations and which is performed by a county engineer who |
| |||||||
| |||||||
1 | is employed by a county and is a registered professional | ||||||
2 | engineer under the Professional Engineering Practice Act | ||||||
3 | of 1989. In addition to his or her signature, the county | ||||||
4 | engineer shall affix his or her license number to the | ||||||
5 | valuation. | ||||||
6 | Nothing in this subsection (e-5) shall be construed to | ||||||
7 | allow the State of Illinois, a political subdivision thereof, | ||||||
8 | or any public body to acquire real estate by eminent domain in | ||||||
9 | any manner
other than provided for in the Eminent Domain Act. | ||||||
10 | (f) A State real estate appraisal certification or license | ||||||
11 | is not required under this Act for any of the following: | ||||||
12 | (1) A person, partnership, association, or corporation | ||||||
13 | that performs appraisals of property owned by that person, | ||||||
14 | partnership, association, or corporation for the sole use | ||||||
15 | of that person, partnership, association, or corporation. | ||||||
16 | (2) A court-appointed commissioner who conducts an | ||||||
17 | appraisal pursuant to a judicially ordered evaluation of | ||||||
18 | property. | ||||||
19 | However, any person who is certified or licensed under this Act | ||||||
20 | and who performs any of the activities set forth in this | ||||||
21 | subsection (f) must comply with the provisions of this Act. A | ||||||
22 | person who violates this subsection (f) is guilty of a Class A | ||||||
23 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
24 | subsequent offense. | ||||||
25 | (g) This Act does not apply to an employee, officer, | ||||||
26 | director, or member of a credit or loan committee of a |
| |||||||
| |||||||
1 | financial institution or any other person engaged by a | ||||||
2 | financial institution when performing an evaluation of real | ||||||
3 | property for the sole use of the financial institution in a | ||||||
4 | transaction for which the financial institution would not be | ||||||
5 | required to use the services of a State licensed or State | ||||||
6 | certified appraiser pursuant to federal regulations adopted | ||||||
7 | under Title XI of the federal Financial Institutions Reform, | ||||||
8 | Recovery, and Enforcement Act of 1989, nor does this Act apply | ||||||
9 | to the procurement of an automated valuation model. | ||||||
10 | "Automated valuation model" means an automated system that | ||||||
11 | is used to derive a property value through the use of publicly | ||||||
12 | available property records and various analytic methodologies | ||||||
13 | such as comparable sales prices, home characteristics, and | ||||||
14 | historical home price appreciations.
| ||||||
15 | (Source: P.A. 97-602, eff. 8-26-11; 98-444, eff. 8-16-13.)
| ||||||
16 | (225 ILCS 458/5-10)
| ||||||
17 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
18 | Sec. 5-10. Application for State
certified general real | ||||||
19 | estate appraiser.
| ||||||
20 | (a) Every person who
desires to obtain a State certified | ||||||
21 | general real estate appraiser license
shall:
| ||||||
22 | (1) apply to the Department
on forms provided by the | ||||||
23 | Department
accompanied by the required fee;
| ||||||
24 | (2) be at least 18 years of age;
| ||||||
25 | (3) (blank);
|
| |||||||
| |||||||
1 | (4) personally take and pass an examination authorized | ||||||
2 | by the Department
and endorsed
by the AQB;
| ||||||
3 | (5) prior to taking the examination, provide evidence | ||||||
4 | to the Department, in Modular Course format, with each | ||||||
5 | module conforming to the Required Core Curriculum Real | ||||||
6 | Property Appraiser Qualification Criteria established and | ||||||
7 | adopted by the AQB,
that he or she
has successfully | ||||||
8 | completed the prerequisite
classroom hours of instruction | ||||||
9 | in appraising as established by the AQB and by
rule; and
| ||||||
10 | (6) prior to taking the examination, provide evidence
| ||||||
11 | to the Department
that he or she has successfully completed | ||||||
12 | the prerequisite
experience and educational requirements | ||||||
13 | in appraising as established by AQB and by rule.
| ||||||
14 | (b) Applicants must provide evidence to the Department of | ||||||
15 | (i) holding a Bachelor's degree or higher from an accredited | ||||||
16 | college or university . or (ii) successfully passing 30 semester | ||||||
17 | credit hours or the equivalent from an accredited college or | ||||||
18 | university, junior college, or community college in the | ||||||
19 | following subjects: | ||||||
20 | (1) English composition; | ||||||
21 | (2) micro economics; | ||||||
22 | (3) macro economics; | ||||||
23 | (4) finance; | ||||||
24 | (5) algebra, geometry, or higher mathematics; | ||||||
25 | (6) statistics; | ||||||
26 | (7) introduction to computers-word
processing and |
| |||||||
| |||||||
1 | spreadsheets; | ||||||
2 | (8) business or real estate law; and | ||||||
3 | (9) two elective courses in accounting, geography,
| ||||||
4 | agricultural economics, business management, or real
| ||||||
5 | estate. | ||||||
6 | If an accredited college or university accepts the | ||||||
7 | College-Level Examination Program (CLEP) examinations and | ||||||
8 | issues a transcript for the exam showing its approval, it will | ||||||
9 | be considered credit for the college course for the purposes of | ||||||
10 | meeting the requirements of this subsection (b).
| ||||||
11 | (Source: P.A. 96-844, eff. 12-23-09; 96-1000, eff. 7-2-10 .)
| ||||||
12 | (225 ILCS 458/5-15)
| ||||||
13 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
14 | Sec. 5-15. Application for State certified residential | ||||||
15 | real estate
appraiser. | ||||||
16 | (a) Every person who
desires to obtain a State certified | ||||||
17 | residential real estate appraiser license
shall:
| ||||||
18 | (1) apply to the Department
on forms provided by the | ||||||
19 | Department
accompanied by the required fee;
| ||||||
20 | (2) be at least 18 years of age;
| ||||||
21 | (3) (blank);
| ||||||
22 | (4) personally take and pass an examination authorized | ||||||
23 | by the Department
and endorsed
by
the AQB;
| ||||||
24 | (5) prior to taking the examination, provide evidence
| ||||||
25 | to the Department, in Modular Course format, with each |
| |||||||
| |||||||
1 | module conforming to the Required Core Curriculum Real | ||||||
2 | Property Appraiser Qualification Criteria established and | ||||||
3 | adopted by the AQB,
that he or she has successfully | ||||||
4 | completed the prerequisite
classroom hours of instruction | ||||||
5 | in appraising as established by the AQB and by
rule; and
| ||||||
6 | (6) prior to taking the examination, provide evidence
| ||||||
7 | to the Department
that he or she has successfully completed | ||||||
8 | the prerequisite
experience and educational requirements | ||||||
9 | as established by AQB and by rule.
| ||||||
10 | (b) Applicants must provide evidence to the Department of | ||||||
11 | (i) holding an Associate's degree or its equivalent from an | ||||||
12 | accredited college or university, junior college, or community | ||||||
13 | college or (ii) successfully passing 21 semester credit hours | ||||||
14 | or the equivalent from an accredited college or university, | ||||||
15 | junior college, or community college in the following subjects: | ||||||
16 | (1) English composition; | ||||||
17 | (2) principals of economics (micro or macro); | ||||||
18 | (3) finance; | ||||||
19 | (4) algebra, geometry, or higher mathematics; | ||||||
20 | (5) statistics; | ||||||
21 | (6) introduction to computers-word
processing and | ||||||
22 | spreadsheets; and | ||||||
23 | (7) business or real estate law. | ||||||
24 | If an accredited college or university accepts the | ||||||
25 | College-Level Examination Program (CLEP) examinations and | ||||||
26 | issues a transcript for the exam showing its approval, it will |
| |||||||
| |||||||
1 | be considered credit for the college course for the purposes of | ||||||
2 | the requirements of this subsection (b).
| ||||||
3 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
4 | (225 ILCS 458/5-20)
| ||||||
5 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
6 | Sec. 5-20. Application for associate real estate trainee
| ||||||
7 | appraiser. Every person who desires to obtain an associate real | ||||||
8 | estate trainee appraiser
license shall:
| ||||||
9 | (1) apply to the Department
on forms provided by the | ||||||
10 | Department
accompanied by the required
fee;
| ||||||
11 | (2) be at least 18 years of age;
| ||||||
12 | (3) provide evidence of having attained a high school | ||||||
13 | diploma or completed
an
equivalent course of
study as | ||||||
14 | determined by an examination conducted
or accepted
by the | ||||||
15 | Illinois State Board of
Education;
| ||||||
16 | (4) personally take and pass an examination authorized | ||||||
17 | by the Department; and
| ||||||
18 | (5) prior to taking the examination, provide evidence
| ||||||
19 | to the Department
that he or she has successfully
completed
| ||||||
20 | the prerequisite qualifying and any conditional education | ||||||
21 | requirements classroom hours of instruction in appraising | ||||||
22 | as established by
rule.
| ||||||
23 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
24 | (225 ILCS 458/5-22 new) |
| |||||||
| |||||||
1 | Sec. 5-22. Criminal history records check. Each applicant | ||||||
2 | for licensure by examination or restoration shall have his or | ||||||
3 | her fingerprints submitted to the Department of State Police in | ||||||
4 | an electronic format that complies with the form and manner for | ||||||
5 | requesting and furnishing criminal history record information | ||||||
6 | as prescribed by the Department of State Police. These | ||||||
7 | fingerprints shall be checked against the Department of State | ||||||
8 | Police and Federal Bureau of Investigation criminal history | ||||||
9 | record databases now and hereafter filed. The Department of | ||||||
10 | State Police shall charge applicants a fee for conducting the | ||||||
11 | criminal history records check, which shall be deposited into | ||||||
12 | the State Police Services Fund and shall not exceed the actual | ||||||
13 | cost of the records check. The Department of State Police shall
| ||||||
14 | furnish, pursuant to positive identification, records of | ||||||
15 | Illinois convictions to the Department. The Department may | ||||||
16 | require applicants to pay a separate fingerprinting fee, either | ||||||
17 | to the Department or to a vendor. The Department may adopt any | ||||||
18 | rules necessary to implement this Section.
| ||||||
19 | (225 ILCS 458/5-30)
| ||||||
20 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
21 | Sec. 5-30. Endorsement. The Department may issue an | ||||||
22 | appraiser license, without the required examination, to an | ||||||
23 | applicant licensed by another state, territory, possession of | ||||||
24 | the United States, or the District of
Columbia, if (i) the | ||||||
25 | licensing
requirements of that licensing authority are, on the |
| |||||||
| |||||||
1 | date of licensure, substantially equal to the requirements set | ||||||
2 | forth under this Act or to a person who, at the time of his or | ||||||
3 | her application, possessed individual qualifications that were | ||||||
4 | substantially equivalent to the requirements of this Act or | ||||||
5 | (ii) the applicant provides the Department
with evidence of | ||||||
6 | good standing from
the Appraisal Subcommittee National | ||||||
7 | Registry
report and a criminal history records check in | ||||||
8 | accordance with Section 5-22 . An applicant under this Section | ||||||
9 | shall pay all of the required fees.
| ||||||
10 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
11 | (225 ILCS 458/5-35)
| ||||||
12 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
13 | Sec. 5-35. Qualifying Pre-license education requirements.
| ||||||
14 | (a) The prerequisite
classroom hours necessary for a person | ||||||
15 | to be
approved to sit for the examination for licensure as a
| ||||||
16 | State
certified general real
estate
appraiser
or
a State | ||||||
17 | certified residential
real estate appraiser
shall be in | ||||||
18 | accordance with AQB criteria and established
by rule.
| ||||||
19 | (b) The prerequisite classroom hours necessary for a person
| ||||||
20 | to sit for the examination for licensure as an associate real
| ||||||
21 | estate trainee appraiser shall be established by rule.
| ||||||
22 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
23 | (225 ILCS 458/5-40)
| ||||||
24 | (Section scheduled to be repealed on January 1, 2022)
|
| |||||||
| |||||||
1 | Sec. 5-40. Qualifying Pre-license experience requirements. | ||||||
2 | The
prerequisite experience necessary for a person to be | ||||||
3 | approved to sit for the
examination
for licensure as a State | ||||||
4 | certified general real estate
appraiser or a State certified
| ||||||
5 | residential real
estate appraiser shall be established by
rule.
| ||||||
6 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
7 | (225 ILCS 458/5-50)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
9 | Sec. 5-50. Temporary practice permits. A nonresident | ||||||
10 | appraiser who holds
a valid appraiser
license in another state, | ||||||
11 | territory, possession of the United States, or the
District of | ||||||
12 | Columbia may be
granted a temporary practice permit to practice | ||||||
13 | as an appraiser in the State of
Illinois upon making
an | ||||||
14 | application and paying the applicable fees pursuant to | ||||||
15 | Appraisal
Subcommittee
policy statements and as
established by | ||||||
16 | rule.
| ||||||
17 | (Source: P.A. 92-180, eff. 7-1-02 .)
| ||||||
18 | (225 ILCS 458/10-5)
| ||||||
19 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
20 | Sec. 10-5. Scope of practice.
| ||||||
21 | (a) This Act does not limit a
State
certified general real | ||||||
22 | estate appraiser
in his or
her scope of practice in
a federally | ||||||
23 | related transaction. A certified general real estate appraiser
| ||||||
24 | may independently provide
appraisal
services, review, or |
| |||||||
| |||||||
1 | consulting
relating to any type of property for which he or she | ||||||
2 | has experience or
is
competent. All such appraisal
practice | ||||||
3 | must be made in accordance with the provisions of USPAP, | ||||||
4 | criteria
established by the AQB, and rules adopted pursuant to | ||||||
5 | this Act.
| ||||||
6 | (b) A State certified residential real estate appraiser is | ||||||
7 | limited in his or
her scope of practice
to
the provisions of | ||||||
8 | USPAP, criteria established by the AQB, and the
rules adopted | ||||||
9 | pursuant to this Act.
| ||||||
10 | (c) A State certified residential real estate appraiser | ||||||
11 | must have a State certified general real estate appraiser who | ||||||
12 | holds a valid license under this Act co-sign all appraisal | ||||||
13 | reports on properties other than one to 4 units of residential | ||||||
14 | real property without regard to transaction value or | ||||||
15 | complexity.
| ||||||
16 | (d) An associate real estate trainee appraiser is limited | ||||||
17 | in his or her scope of
practice in all transactions in | ||||||
18 | accordance with the provisions of
USPAP, this
Act, and the | ||||||
19 | rules adopted pursuant to this Act. In addition,
an associate | ||||||
20 | real estate trainee appraiser shall be required to have
a State | ||||||
21 | certified
general real estate
appraiser or State certified | ||||||
22 | residential real estate appraiser who holds a
valid license | ||||||
23 | under this Act
to co-sign all appraisal reports. A The | ||||||
24 | associate real estate trainee appraiser licensee may not have | ||||||
25 | more than 3 supervising appraisers, and a supervising appraiser | ||||||
26 | may not supervise more than 3 associate real estate trainee |
| |||||||
| |||||||
1 | appraisers at one time. Associate real estate trainee | ||||||
2 | appraisers shall not be limited in the number of concurrent | ||||||
3 | supervising appraisers. A chronological appraisal log on an | ||||||
4 | approved log form shall be maintained by the associate real | ||||||
5 | estate trainee appraiser and shall be made available to the | ||||||
6 | Department upon request.
| ||||||
7 | (Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
| ||||||
8 | (225 ILCS 458/15-10)
| ||||||
9 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
10 | Sec. 15-10. Grounds for disciplinary action.
| ||||||
11 | (a) The Department
may suspend, revoke,
refuse to issue,
| ||||||
12 | renew, or restore a license and may reprimand place on | ||||||
13 | probation or administrative
supervision,
or take any | ||||||
14 | disciplinary or non-disciplinary action, including
imposing
| ||||||
15 | conditions limiting the scope, nature, or extent of the real | ||||||
16 | estate appraisal
practice of a
licensee or reducing the | ||||||
17 | appraisal rank of a licensee,
and may impose an administrative | ||||||
18 | fine
not to exceed $25,000 for each violation upon a licensee
| ||||||
19 | for any one or combination of the following:
| ||||||
20 | (1) Procuring or attempting to procure a license by | ||||||
21 | knowingly making a
false statement,
submitting false | ||||||
22 | information, engaging in any form of fraud or
| ||||||
23 | misrepresentation,
or refusing
to provide complete | ||||||
24 | information in response to a question in an application for
| ||||||
25 | licensure.
|
| |||||||
| |||||||
1 | (2) Failing to meet the minimum qualifications for | ||||||
2 | licensure as an
appraiser established by this
Act.
| ||||||
3 | (3) Paying money, other than for the fees provided for | ||||||
4 | by this Act, or
anything of value to a
member or employee | ||||||
5 | of the Board or the Department
to procure
licensure
under | ||||||
6 | this Act.
| ||||||
7 | (4) Conviction by plea of guilty or nolo contendere, | ||||||
8 | finding of guilt, jury verdict, or entry of judgment or by | ||||||
9 | sentencing of any crime, including, but not limited to, | ||||||
10 | convictions, preceding sentences of supervision, | ||||||
11 | conditional discharge, or first offender probation, under | ||||||
12 | the laws of any jurisdiction of the United States: (i) that | ||||||
13 | is a felony; or (ii) that is a misdemeanor, an essential | ||||||
14 | element of which is dishonesty, or that is directly related | ||||||
15 | to the practice of the profession.
| ||||||
16 | (5) Committing an act or omission involving | ||||||
17 | dishonesty, fraud, or
misrepresentation with the intent to
| ||||||
18 | substantially benefit the licensee or another person or | ||||||
19 | with intent to
substantially injure
another person as | ||||||
20 | defined by rule.
| ||||||
21 | (6) Violating a provision or standard for the | ||||||
22 | development or
communication of real estate
appraisals as | ||||||
23 | provided in Section 10-10 of this Act or as defined by | ||||||
24 | rule.
| ||||||
25 | (7) Failing or refusing without good cause to exercise | ||||||
26 | reasonable
diligence in developing, reporting,
or |
| |||||||
| |||||||
1 | communicating an appraisal, as defined by this Act or by | ||||||
2 | rule.
| ||||||
3 | (8) Violating a provision of this Act or the rules | ||||||
4 | adopted pursuant to
this Act.
| ||||||
5 | (9) Having been disciplined by another state, the | ||||||
6 | District of Columbia, a
territory, a foreign nation,
a | ||||||
7 | governmental agency, or any other entity authorized to | ||||||
8 | impose discipline if
at least one of
the grounds for that | ||||||
9 | discipline is the same as or the equivalent of one of the
| ||||||
10 | grounds for
which a licensee may be disciplined under this | ||||||
11 | Act.
| ||||||
12 | (10) Engaging in dishonorable, unethical, or | ||||||
13 | unprofessional conduct of a
character likely to
deceive, | ||||||
14 | defraud, or harm the public.
| ||||||
15 | (11) Accepting an appraisal assignment when the | ||||||
16 | employment
itself is contingent
upon the appraiser | ||||||
17 | reporting a predetermined estimate, analysis, or opinion | ||||||
18 | or
when the fee
to be paid is contingent upon the opinion, | ||||||
19 | conclusion, or valuation reached or
upon the
consequences | ||||||
20 | resulting from the appraisal assignment.
| ||||||
21 | (12) Developing valuation conclusions based on the | ||||||
22 | race, color, religion,
sex, national origin,
ancestry, | ||||||
23 | age, marital status, family status, physical or mental | ||||||
24 | disability, or
unfavorable
military discharge, as defined | ||||||
25 | under the Illinois Human Rights Act, of the
prospective or
| ||||||
26 | present owners or occupants of the area or property under |
| |||||||
| |||||||
1 | appraisal.
| ||||||
2 | (13) Violating the confidential nature of government | ||||||
3 | records to which
the licensee gained
access through | ||||||
4 | employment or engagement as an appraiser by a government | ||||||
5 | agency.
| ||||||
6 | (14) Being adjudicated liable in a civil proceeding on | ||||||
7 | grounds of
fraud, misrepresentation, or
deceit. In a | ||||||
8 | disciplinary proceeding based upon a finding of civil | ||||||
9 | liability,
the appraiser shall
be afforded an opportunity | ||||||
10 | to present mitigating and extenuating circumstances,
but | ||||||
11 | may not
collaterally attack the civil adjudication.
| ||||||
12 | (15) Being adjudicated liable in a civil proceeding for | ||||||
13 | violation of
a state or federal fair
housing law.
| ||||||
14 | (16) Engaging in misleading or untruthful advertising | ||||||
15 | or using a trade
name or insignia of
membership in a real | ||||||
16 | estate appraisal or real estate organization of
which the | ||||||
17 | licensee is
not a member.
| ||||||
18 | (17) Failing to fully cooperate with a Department | ||||||
19 | investigation by knowingly
making a false
statement, | ||||||
20 | submitting false or misleading information, or refusing to | ||||||
21 | provide
complete information in response to written
| ||||||
22 | interrogatories or a written
request for documentation | ||||||
23 | within 30 days of the request.
| ||||||
24 | (18) Failing to include within the certificate of | ||||||
25 | appraisal for all
written appraisal reports the | ||||||
26 | appraiser's license number and licensure title.
All |
| |||||||
| |||||||
1 | appraisers providing significant contribution to the | ||||||
2 | development and
reporting of an appraisal must be disclosed | ||||||
3 | in the appraisal report. It is a
violation of this Act for | ||||||
4 | an
appraiser to sign a report,
transmittal letter, or | ||||||
5 | appraisal certification knowing that a person providing
a | ||||||
6 | significant
contribution to the report has not been | ||||||
7 | disclosed in the appraisal report.
| ||||||
8 | (19) Violating the terms of a disciplinary order or | ||||||
9 | consent to administrative supervision order. | ||||||
10 | (20) Habitual or excessive use or addiction to alcohol, | ||||||
11 | narcotics, stimulants, or any other chemical agent or drug | ||||||
12 | that results in a licensee's inability to practice with | ||||||
13 | reasonable judgment, skill, or safety. | ||||||
14 | (21) A physical or mental illness or disability which | ||||||
15 | results in the inability to practice under this Act with | ||||||
16 | reasonable judgment, skill, or safety.
| ||||||
17 | (22) Gross negligence in developing an appraisal or in | ||||||
18 | communicating an appraisal or failing to observe one or | ||||||
19 | more of the Uniform Standards of Professional Appraisal | ||||||
20 | Practice. | ||||||
21 | (23) A pattern of practice or other behavior that | ||||||
22 | demonstrates incapacity or incompetence to practice under | ||||||
23 | this Act. | ||||||
24 | (24) Using or attempting to use the seal, certificate, | ||||||
25 | or license of another as his or her own; falsely | ||||||
26 | impersonating any duly licensed appraiser; using or |
| |||||||
| |||||||
1 | attempting to use an inactive, expired, suspended, or | ||||||
2 | revoked license; or aiding or abetting any of the | ||||||
3 | foregoing. | ||||||
4 | (25) Solicitation of professional services by using | ||||||
5 | false, misleading, or deceptive advertising. | ||||||
6 | (26) Making a material misstatement in furnishing | ||||||
7 | information to the Department. | ||||||
8 | (27) Failure to furnish information to the Department | ||||||
9 | upon written request. | ||||||
10 | (b) The Department
may reprimand suspend, revoke,
or refuse | ||||||
11 | to issue or renew an education provider's
license, may | ||||||
12 | reprimand, place on probation, or otherwise discipline
an | ||||||
13 | education provider
and may suspend or revoke the course | ||||||
14 | approval of any course offered by
an education provider and may | ||||||
15 | impose an administrative fine
not to exceed $25,000 upon
an | ||||||
16 | education provider,
for any of the following:
| ||||||
17 | (1) Procuring or attempting to procure licensure by | ||||||
18 | knowingly making a
false statement,
submitting false | ||||||
19 | information, engaging in any form of fraud or
| ||||||
20 | misrepresentation, or
refusing to
provide complete | ||||||
21 | information in response to a question in an application for
| ||||||
22 | licensure.
| ||||||
23 | (2) Failing to comply with the covenants certified to | ||||||
24 | on the application
for licensure as an education provider.
| ||||||
25 | (3) Committing an act or omission involving | ||||||
26 | dishonesty, fraud, or
misrepresentation or allowing any |
| |||||||
| |||||||
1 | such act or omission by
any employee or contractor under | ||||||
2 | the control of the provider.
| ||||||
3 | (4) Engaging in misleading or untruthful advertising.
| ||||||
4 | (5) Failing to retain competent instructors in | ||||||
5 | accordance with rules
adopted
under this Act.
| ||||||
6 | (6) Failing to meet the topic or time requirements for | ||||||
7 | course approval as
the provider of a qualifying pre-license
| ||||||
8 | curriculum course or a continuing education course.
| ||||||
9 | (7) Failing to administer an approved course using the | ||||||
10 | course materials,
syllabus, and examinations
submitted as | ||||||
11 | the basis of the course approval.
| ||||||
12 | (8) Failing to provide an appropriate classroom | ||||||
13 | environment for
presentation of courses, with
| ||||||
14 | consideration for student comfort, acoustics, lighting, | ||||||
15 | seating, workspace, and
visual aid material.
| ||||||
16 | (9) Failing to maintain student records in compliance | ||||||
17 | with the rules
adopted under this Act.
| ||||||
18 | (10) Failing to provide a certificate, transcript, or | ||||||
19 | other student
record to the Department
or to a student
as | ||||||
20 | may be required by rule.
| ||||||
21 | (11) Failing to fully cooperate with an
investigation | ||||||
22 | by the Department by knowingly
making a false
statement, | ||||||
23 | submitting false or misleading information, or refusing to | ||||||
24 | provide
complete information in response to written | ||||||
25 | interrogatories or a written
request for documentation | ||||||
26 | within 30 days of the request.
|
| |||||||
| |||||||
1 | (c) In appropriate cases, the Department
may resolve a | ||||||
2 | complaint against a licensee
through the issuance of a Consent | ||||||
3 | to Administrative Supervision order.
A licensee subject to a | ||||||
4 | Consent to Administrative Supervision order
shall be | ||||||
5 | considered by the Department
as an active licensee in good | ||||||
6 | standing. This order shall not be reported or
considered by the | ||||||
7 | Department
to be a discipline
of the licensee. The records | ||||||
8 | regarding an investigation and a Consent to
Administrative | ||||||
9 | Supervision order
shall be considered confidential and shall | ||||||
10 | not be released by the Department
except
as mandated by law.
A | ||||||
11 | complainant shall be notified if his or her complaint has been | ||||||
12 | resolved
by a Consent to
Administrative Supervision order.
| ||||||
13 | (Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11; | ||||||
14 | 97-877, eff. 8-2-12.)
| ||||||
15 | (225 ILCS 458/20-5)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
17 | Sec. 20-5. Education providers.
| ||||||
18 | (a) Beginning July 1, 2002, only education providers | ||||||
19 | licensed or otherwise approved by the Department
may
provide | ||||||
20 | the qualifying pre-license and continuing education courses | ||||||
21 | required for licensure
under this Act.
| ||||||
22 | (b) A person or entity seeking to be licensed as an | ||||||
23 | education
provider under this Act
shall provide satisfactory | ||||||
24 | evidence of the following:
| ||||||
25 | (1) a sound financial base for establishing, |
| |||||||
| |||||||
1 | promoting, and delivering the
necessary
courses;
| ||||||
2 | (2) a sufficient number of qualified instructors;
| ||||||
3 | (3) adequate support personnel to assist with | ||||||
4 | administrative matters and
technical
assistance;
| ||||||
5 | (4) a written policy dealing with procedures for | ||||||
6 | management of grievances
and fee refunds;
| ||||||
7 | (5) a qualified administrator, who is responsible for | ||||||
8 | the
administration of the
education provider, courses, and | ||||||
9 | the actions of the instructors; and
| ||||||
10 | (6) any other requirements as provided by rule.
| ||||||
11 | (c) All applicants for an education provider's license | ||||||
12 | shall make initial
application to the Department
on forms | ||||||
13 | provided by the Department
and pay the appropriate fee as
| ||||||
14 | provided by rule. The term, expiration date, and renewal of an | ||||||
15 | education
provider's license shall be established by rule.
| ||||||
16 | (d) An education provider shall provide each successful | ||||||
17 | course participant
with a certificate of
completion signed by | ||||||
18 | the school administrator. The format and content of the
| ||||||
19 | certificate shall be specified by rule.
| ||||||
20 | (e) All education providers shall provide to the Department
| ||||||
21 | a monthly roster of all
successful course
participants as | ||||||
22 | provided by rule.
| ||||||
23 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
24 | (225 ILCS 458/20-10)
| ||||||
25 | (Section scheduled to be repealed on January 1, 2022)
|
| |||||||
| |||||||
1 | Sec. 20-10. Course approval.
| ||||||
2 | (a) Only courses offered by licensed education providers | ||||||
3 | and approved
by the Department, courses approved by the AQB, or | ||||||
4 | courses approved by jurisdictions regulated by the Appraisal | ||||||
5 | Subcommittee
shall be used to meet the requirements of this Act | ||||||
6 | and rules.
| ||||||
7 | (b) An education provider licensed under this Act may | ||||||
8 | submit courses to the Department
for approval.
The criteria, | ||||||
9 | requirements, and fees for courses shall be established
by rule | ||||||
10 | in accordance with
this Act , Title XI, and the criteria | ||||||
11 | established by the AQB.
| ||||||
12 | (c) For each course approved, the Department
shall issue a | ||||||
13 | license to the education
provider. The term, expiration date, | ||||||
14 | and renewal of a course approval shall
be
established by rule.
| ||||||
15 | (d) An education provider must use an instructor for each | ||||||
16 | course approved by the Department who (i) holds a valid real | ||||||
17 | estate appraisal license in good standing as a State certified | ||||||
18 | general real estate appraiser or a State certified residential | ||||||
19 | real estate appraiser in Illinois or any other jurisdiction | ||||||
20 | monitored regulated by the Appraisal Subcommittee, (ii) holds a | ||||||
21 | valid teaching certificate issued by the State of Illinois, | ||||||
22 | (iii) is a faculty member in good standing with an accredited | ||||||
23 | college or university or community college, or (iv) is an | ||||||
24 | approved appraisal instructor from an appraisal organization | ||||||
25 | that is a member of the Appraisal Foundation. | ||||||
26 | (Source: P.A. 96-844, eff. 12-23-09 .)
|
| |||||||
| |||||||
1 | (225 ILCS 458/25-10)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
3 | Sec. 25-10. Real Estate Appraisal Administration and | ||||||
4 | Disciplinary Board; appointment.
| ||||||
5 | (a) There is hereby created the Real Estate Appraisal | ||||||
6 | Administration and Disciplinary Board. The Board
shall be | ||||||
7 | composed of 10 persons appointed by the Governor, plus the | ||||||
8 | Coordinator
of
the Real Estate Appraisal Division. Members | ||||||
9 | shall be appointed to the Board
subject to the following | ||||||
10 | conditions:
| ||||||
11 | (1) All appointed members shall have been residents and | ||||||
12 | citizens of this
State for
at least 5 years prior
to the | ||||||
13 | date of appointment.
| ||||||
14 | (2) The appointed membership of the Board should | ||||||
15 | reasonably reflect the
geographic
distribution of the
| ||||||
16 | population of the State.
| ||||||
17 | (3) Four appointed members shall have been actively | ||||||
18 | engaged and currently
licensed as
State
certified general | ||||||
19 | real estate appraisers for a period of not less than 5
| ||||||
20 | years.
| ||||||
21 | (4)
Two appointed members shall have been actively | ||||||
22 | engaged and currently
licensed as
State
certified | ||||||
23 | residential real estate appraisers for a period of
not less | ||||||
24 | than 5 years.
| ||||||
25 | (5)
Two appointed members shall hold a valid license as |
| |||||||
| |||||||
1 | a
real estate
broker for at least 10 years prior to the | ||||||
2 | date of the appointment, one of whom
shall hold a valid
| ||||||
3 | State certified general real estate appraiser license | ||||||
4 | issued under this Act or a predecessor Act for a period of | ||||||
5 | at
least 5 years prior to the appointment and one of whom | ||||||
6 | shall hold a valid State certified residential real estate | ||||||
7 | appraiser license issued under this Act or a predecessor | ||||||
8 | Act for a period of at
least 5 years prior to the | ||||||
9 | appointment.
| ||||||
10 | (6) One appointed member shall be a representative of a | ||||||
11 | financial
institution, as evidenced by his or her | ||||||
12 | employment with a financial
institution.
| ||||||
13 | (7) One appointed member shall represent the interests | ||||||
14 | of the general
public. This member or his or her spouse | ||||||
15 | shall not be licensed under this Act
nor be employed by or | ||||||
16 | have any interest in an appraisal business, appraisal | ||||||
17 | management company, real estate
brokerage business, or a | ||||||
18 | financial institution.
| ||||||
19 | In making appointments as
provided in paragraphs (3) and | ||||||
20 | (4) of this subsection, the Governor shall
give due | ||||||
21 | consideration to recommendations by members and organizations
| ||||||
22 | representing the profession.
| ||||||
23 | In making the appointments as
provided in paragraph (5) of | ||||||
24 | this subsection, the Governor shall give
due consideration to | ||||||
25 | the recommendations by members and organizations
representing | ||||||
26 | the real estate industry.
|
| |||||||
| |||||||
1 | In making the appointment as provided
in paragraph (6) of | ||||||
2 | this subsection, the Governor
shall give due consideration to | ||||||
3 | the recommendations by members and
organizations representing | ||||||
4 | financial institutions.
| ||||||
5 | (b) The term for members of the Board shall be 4 years, and | ||||||
6 | each member shall serve until his or her successor is appointed | ||||||
7 | and qualified. No member shall serve more than 10 years in a | ||||||
8 | lifetime.
| ||||||
9 | (c) The Governor may terminate the appointment of a member | ||||||
10 | for cause that,
in
the opinion of the Governor, reasonably | ||||||
11 | justifies the termination. Cause for
termination may include, | ||||||
12 | without limitation, misconduct, incapacity, neglect of
duty, | ||||||
13 | or missing 4 Board meetings during any one calendar year.
| ||||||
14 | (d) A majority of the Board members shall constitute a
| ||||||
15 | quorum. A vacancy in the membership of the Board shall not | ||||||
16 | impair the right of
a quorum to exercise all of the rights and | ||||||
17 | perform all of the duties of the
Board.
| ||||||
18 | (e) The Board shall meet at least quarterly and may be | ||||||
19 | convened
by the Chairperson, Vice-Chairperson, or 3 members of | ||||||
20 | the Board upon 10 days
written notice.
| ||||||
21 | (f) The Board shall, annually at the first meeting of the | ||||||
22 | fiscal year,
elect a Chairperson and Vice-Chairperson from its
| ||||||
23 | members. The Chairperson shall preside over the meetings and | ||||||
24 | shall coordinate
with the Coordinator
in developing and | ||||||
25 | distributing an agenda for each meeting. In the absence of
the | ||||||
26 | Chairperson, the Vice-Chairperson shall preside over the |
| |||||||
| |||||||
1 | meeting.
| ||||||
2 | (g) The Coordinator
of the Real Estate Appraisal Division | ||||||
3 | shall serve as
a member of the Board without vote.
| ||||||
4 | (h) The Board shall advise and make recommendations to
the | ||||||
5 | Department
on the education and experience qualifications of | ||||||
6 | any applicant for initial licensure as a State certified | ||||||
7 | general real estate appraiser or a State certified residential | ||||||
8 | real estate appraiser. The Department shall not make any | ||||||
9 | decisions concerning education or experience qualifications of | ||||||
10 | an applicant for initial licensure as a State certified general | ||||||
11 | real estate appraiser or a State certified residential real | ||||||
12 | estate appraiser without having first received the advice and | ||||||
13 | recommendation of the Board and
shall give due consideration to | ||||||
14 | all
such advice and recommendations; however, if the Board does | ||||||
15 | not render advice or make a recommendation within a reasonable | ||||||
16 | amount of time, then the Department may render a decision.
| ||||||
17 | (i) Except as provided in Section 15-17 of this Act, the
| ||||||
18 | Board shall hear and make recommendations to the
Secretary
on
| ||||||
19 | disciplinary matters
that require a formal evidentiary | ||||||
20 | hearing. The Secretary
shall give due
consideration to the
| ||||||
21 | recommendations of the Board involving discipline and | ||||||
22 | questions involving
standards of professional
conduct of | ||||||
23 | licensees.
| ||||||
24 | (j) The Department shall seek and the Board shall provide
| ||||||
25 | recommendations to the Department
consistent with the
| ||||||
26 | provisions
of this Act and for the administration and |
| |||||||
| |||||||
1 | enforcement of all
rules adopted
pursuant to this Act. The | ||||||
2 | Department
shall give due consideration to
such
| ||||||
3 | recommendations
prior to adopting rules.
| ||||||
4 | (k) The Department shall seek and the Board shall provide
| ||||||
5 | recommendations to the Department
on the approval of all | ||||||
6 | courses
submitted to the Department
pursuant to this Act and | ||||||
7 | the rules adopted pursuant to this Act. The Department shall | ||||||
8 | not approve any courses without having first received the | ||||||
9 | recommendation of the Board and
shall
give due consideration to | ||||||
10 | such
recommendations
prior to approving and licensing courses; | ||||||
11 | however, if the Board does not make a recommendation within a | ||||||
12 | reasonable amount of time, then the Department may approve | ||||||
13 | courses.
| ||||||
14 | (l) Each voting member of the Board shall receive a per | ||||||
15 | diem stipend in an
amount
to be determined by the Secretary. | ||||||
16 | Each member shall be paid his or her necessary expenses while
| ||||||
17 | engaged in the
performance of his or her duties.
| ||||||
18 | (m) Members of the Board shall be immune from suit in an | ||||||
19 | action based upon
any disciplinary
proceedings or other acts | ||||||
20 | performed in good faith as members of the Board.
| ||||||
21 | (n) If the Department disagrees with any advice or | ||||||
22 | recommendation provided by the Board under this Section to the | ||||||
23 | Secretary or the Department, then notice of such disagreement | ||||||
24 | must be provided to the Board by the Department.
| ||||||
25 | (o) Upon resolution adopted at any Board meeting, the | ||||||
26 | exercise of any Board function, power, or duty enumerated in |
| |||||||
| |||||||
1 | this Section or in subsection (d) of Section 15-10 of this Act | ||||||
2 | may be suspended. The exercise of any suspended function, | ||||||
3 | power, or duty of the Board may be reinstated by a resolution | ||||||
4 | adopted at a subsequent Board meeting. Any resolution adopted | ||||||
5 | pursuant to this Section shall take effect immediately.
| ||||||
6 | (Source: P.A. 96-844, eff. 12-23-09 .)
| ||||||
7 | (225 ILCS 458/25-15)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2022)
| ||||||
9 | Sec. 25-15. Coordinator
of Real Estate Appraisal; | ||||||
10 | appointment;
duties. The Secretary shall appoint, subject to | ||||||
11 | the Personnel Code, a Coordinator of Real Estate Appraisal. In | ||||||
12 | appointing the Coordinator, the Secretary shall give due | ||||||
13 | consideration to recommendations made by members, | ||||||
14 | organizations, and associations of the real estate appraisal | ||||||
15 | industry. On or after January 1, 2010, the Coordinator must | ||||||
16 | hold a current, valid State certified general real estate | ||||||
17 | appraiser license . The Coordinator shall not practice or a | ||||||
18 | State certified residential real estate appraiser license, | ||||||
19 | which shall be surrendered to the Department during the term of | ||||||
20 | his or her appointment. The Coordinator must take the 30-hour | ||||||
21 | National Instructors Course on Uniform Standards of | ||||||
22 | Professional Appraisal Practice. The Coordinator Coordinator's | ||||||
23 | license shall be returned in the same status as it was on the | ||||||
24 | date of surrender, credited with all fees that came due during | ||||||
25 | his or her employment.
The Coordinator
shall:
|
| |||||||
| |||||||
1 | (1) serve as a member of the Real Estate Appraisal | ||||||
2 | Administration and Disciplinary Board without vote;
| ||||||
3 | (2) be the direct liaison between the Department, the | ||||||
4 | profession, and the real
estate appraisal industry
| ||||||
5 | organizations and associations;
| ||||||
6 | (3) prepare and circulate to licensees such | ||||||
7 | educational and informational
material as the Department
| ||||||
8 | deems necessary for providing guidance or assistance to | ||||||
9 | licensees;
| ||||||
10 | (4) appoint necessary committees to assist in the | ||||||
11 | performance of the
functions and duties
of the Department
| ||||||
12 | under this Act;
| ||||||
13 | (5) (blank); and | ||||||
14 | (6) be authorized to investigate and determine the | ||||||
15 | facts of a complaint; the coordinator may interview | ||||||
16 | witnesses, the complainant, and any licensees involved in | ||||||
17 | the alleged matter and make a recommendation as to the | ||||||
18 | findings of fact.
| ||||||
19 | (Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
|