95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4313

 

Introduced , by Rep. Robert S. Molaro

 

SYNOPSIS AS INTRODUCED:
 
225 ILCS 454/10-15

    Amends the Real Estate License Act of 2000. Provides that no licensee shall give or pay cash rebates, cash gifts, or cash prizes to an unlicensed person who is a party to a contract to buy or sell real estate. Provides that a licensee may offer compensation, including prizes, merchandise, services, rebates, discounts, or other consideration to an unlicensed person who is a party to the lease of real estate, so long as the offer complies with certain provisions of the Act. Effective immediately.


LRB095 14919 KBJ 40864 b

 

 

A BILL FOR

 

HB4313 LRB095 14919 KBJ 40864 b

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 Section 10-15 as follows:
 
6     (225 ILCS 454/10-15)
7     (Section scheduled to be repealed on January 1, 2010)
8     Sec. 10-15. No compensation to persons in violation of Act;
9 compensation to unlicensed persons; consumer.
10     (a) No compensation may be paid to any unlicensed person in
11 exchange for the person performing licensed activities in
12 violation of this Act.
13     (b) No action or suit shall be instituted, nor recovery
14 therein be had, in any court of this State by any person,
15 partnership, registered limited liability partnership, limited
16 liability company, or corporation for compensation for any act
17 done or service performed, the doing or performing of which is
18 prohibited by this Act to other than licensed brokers,
19 salespersons, or leasing agents unless the person,
20 partnership, registered limited liability partnership, limited
21 liability company, or corporation was duly licensed hereunder
22 as a broker, salesperson, or leasing agent under this Act at
23 the time that any such act was done or service performed that

 

 

HB4313 - 2 - LRB095 14919 KBJ 40864 b

1 would give rise to a cause of action for compensation.
2     (c) No licensee shall give or pay cash rebates, cash gifts,
3 or cash prizes to an unlicensed person who is a party to a
4 contract to buy or sell real estate. A licensee may offer
5 compensation, including prizes, merchandise, services,
6 rebates, discounts, or other consideration to an unlicensed
7 person who is a party to a contract to buy or sell real estate
8 or is a party to a contract for the lease of real estate, so
9 long as the offer complies with the provisions of subdivision
10 (26) of subsection (h) of Section 20-20 of this Act.
11     (d) A licensee may offer cash, gifts, prizes, awards,
12 coupons, merchandise, rebates or chances to win a game of
13 chance, if not prohibited by any other law or statute, to a
14 consumer as an inducement to that consumer to use the services
15 of the licensee even if the licensee and consumer do not
16 ultimately enter into a broker-client relationship so long as
17 the offer complies with the provisions of subdivision (26) of
18 subsection (h) of Section 20-20 of this Act.
19 (Source: P.A. 91-245, eff. 12-31-99.)
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.