Illinois Compiled Statutes (ILCS)
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(625 ILCS 5/) Illinois Vehicle Code.

    (625 ILCS 5/18c-5103) (from Ch. 95 1/2, par. 18c-5103)
    Sec. 18c-5103. The Fitness Standard. A person shall be rebuttably presumed unfit to act or to continue to act as a broker if:
    (1) The person has violated any provision of this Chapter, Commission regulations or orders, or any other law governing its activities as a broker;
    (2) The person has violated any fiduciary or other obligation with regard to transmittal of monies, bills, or other matters entrusted to it as broker; or
    (3) The person is applying for a broker's license and any other person the ownership, management, or control of which is or was in substantial identity with the applicant has committed an act of the type described in (1) or (2), above. The Commission may consider any relevant facts in determining whether a person is fit to act or to continue to act as a broker, or whether any presumption which arises under this Section has been rebutted.
(Source: P.A. 84-796.)

    (625 ILCS 5/18c-5104) (from Ch. 95 1/2, par. 18c-5104)
    Sec. 18c-5104. Transfer of Brokers' Licenses. (1) Transfer of Brokers' Licenses Permitted. A broker's license may be transferred, with Commission approval, under the conditions specified in this Section and in accordance with such regulations as the Commission may prescribe.
    (2) Procedures for Transferring Brokers' Licenses. The provisions of Article III of the Sub-chapter 4 of this Chapter that define a transfer and which govern the form and manner of filing of applications for approval of the transfer of a motor carrier of property license, notice to be given to the public, and hearing, shall likewise govern the transfer of a broker's license.
    (3) Standards for Review of Transfer Applications. The Commission shall grant an application for authority to transfer a broker's license where:
    (a) The application was properly filed on forms prescribed by the Commission;
    (b) The person has remitted the filing fee prescribed by the Commission; and
    (c) The transferee is fit, willing, and able under the terms of Section 18c-5103 of this Chapter.
    Otherwise, the application shall be denied.
(Source: P.A. 84-796.)

    (625 ILCS 5/18c-5105) (from Ch. 95 1/2, par. 18c-5105)
    Sec. 18c-5105. Bonds and Insurance. The Commission may prescribe for brokers such requirements regarding bonds, insurance, and the terms of coverage thereof, as the Commission determines are needed to protect carriers, shippers, consignors, and consignees of freight with respect to which brokering service is provided. Unless otherwise provided by the Commission, such requirements shall be the same as are applicable to property brokers under the Interstate Commerce Act and regulations adopted thereunder.
(Source: P.A. 84-796.)

    (625 ILCS 5/18c-5106) (from Ch. 95 1/2, par. 18c-5106)
    Sec. 18c-5106. Records of Brokers. (1) Records to be Kept by Brokers. A broker shall keep a record of each transaction which shows:
    (a) The name, address, and license number of the motor carrier or carriers;
    (b) The name and address of the shipper, consignor, and consignee;
    (c) The Bill of Lading or freight bill number;
    (d) The amount of compensation received by the broker for brokering service, and the identity of the payor;
    (e) A description of any non-brokering service provided in connection with each shipment or other activity, the amount of compensation received for such non-brokering service, and the identity of the payor;
    (f) The amount of any freight charges collected by the broker, the date on which such charges were paid over to the carrier, and the amount of payment to the carrier; and
    (g) Any other information which the Commission may prescribe.
    (2) Maintenance of Records. Records required to be kept under this Section shall be maintained at an office within the State of Illinois, unless maintenance of an office outside the State of Illinois is expressly authorized by the Commission, and shall be maintained for a period of 3 years after the date on which the shipment was delivered.
    (3) Accounting. Each broker which engages in other business shall maintain accounts so that the brokering portion of its business or businesses is segregated from its other activities.
(Source: P.A. 84-796.)