Full Text of HB4313 95th General Assembly
HB4313 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB4313
Introduced , by Rep. Robert S. Molaro SYNOPSIS AS INTRODUCED: |
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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.
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A BILL FOR
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HB4313 |
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LRB095 14919 KBJ 40864 b |
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| AN ACT concerning regulation.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Real Estate License Act of 2000 is amended | 5 |
| by changing Section 10-15 as follows:
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| (225 ILCS 454/10-15)
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| (Section scheduled to be repealed on January 1, 2010)
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| Sec. 10-15. No compensation to persons in violation of Act; | 9 |
| compensation
to unlicensed
persons; consumer.
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| (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.
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| (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
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| 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
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| 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 |
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HB4313 |
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LRB095 14919 KBJ 40864 b |
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| would give rise to a cause of action for compensation.
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| (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.
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| (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.
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| (Source: P.A. 91-245, eff. 12-31-99.)
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| Section 99. Effective date. This Act takes effect upon | 21 |
| becoming law.
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