Illinois General Assembly - Full Text of SB2266
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Full Text of SB2266  98th General Assembly


Rep. Robert Rita

Filed: 5/3/2013





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2    AMENDMENT NO. ______. Amend Senate Bill 2266, AS AMENDED,
3by replacing everything after the enacting clause with the
5    "Section 5. The Real Estate License Act of 2000 is amended
6by changing Sections 1-10, 5-27, 5-28, 5-50, 5-70, and 10-25 as
8    (225 ILCS 454/1-10)
9    (Section scheduled to be repealed on January 1, 2020)
10    Sec. 1-10. Definitions. In this Act, unless the context
11otherwise requires:
12    "Act" means the Real Estate License Act of 2000.
13    "Address of Record" means the designated address recorded
14by the Department in the applicant's or licensee's application
15file or license file as maintained by the Department's
16licensure maintenance unit. It is the duty of the applicant or



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1licensee to inform the Department of any change of address, and
2those changes must be made either through the Department's
3website or by contacting the Department.
4    "Advisory Council" means the Real Estate Education
5Advisory Council created under Section 30-10 of this Act.
6    "Agency" means a relationship in which a real estate broker
7or licensee, whether directly or through an affiliated
8licensee, represents a consumer by the consumer's consent,
9whether express or implied, in a real property transaction.
10    "Applicant" means any person, as defined in this Section,
11who applies to the Department for a valid license as a real
12estate broker, real estate salesperson, or leasing agent.
13    "Blind advertisement" means any real estate advertisement
14that does not include the sponsoring broker's business name and
15that is used by any licensee regarding the sale or lease of
16real estate, including his or her own, licensed activities, or
17the hiring of any licensee under this Act. The broker's
18business name in the case of a franchise shall include the
19franchise affiliation as well as the name of the individual
21    "Board" means the Real Estate Administration and
22Disciplinary Board of the Department as created by Section
2325-10 of this Act.
24    "Branch office" means a sponsoring broker's office other
25than the sponsoring broker's principal office.
26    "Broker" means an individual, partnership, limited



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1liability company, corporation, or registered limited
2liability partnership other than a real estate salesperson or
3leasing agent who, whether in person or through any media or
4technology, for another and for compensation, or with the
5intention or expectation of receiving compensation, either
6directly or indirectly:
7        (1) Sells, exchanges, purchases, rents, or leases real
8    estate.
9        (2) Offers to sell, exchange, purchase, rent, or lease
10    real estate.
11        (3) Negotiates, offers, attempts, or agrees to
12    negotiate the sale, exchange, purchase, rental, or leasing
13    of real estate.
14        (4) Lists, offers, attempts, or agrees to list real
15    estate for sale, lease, or exchange.
16        (5) Buys, sells, offers to buy or sell, or otherwise
17    deals in options on real estate or improvements thereon.
18        (6) Supervises the collection, offer, attempt, or
19    agreement to collect rent for the use of real estate.
20        (7) Advertises or represents himself or herself as
21    being engaged in the business of buying, selling,
22    exchanging, renting, or leasing real estate.
23        (8) Assists or directs in procuring or referring of
24    leads or prospects, intended to result in the sale,
25    exchange, lease, or rental of real estate.
26        (9) Assists or directs in the negotiation of any



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1    transaction intended to result in the sale, exchange,
2    lease, or rental of real estate.
3        (10) Opens real estate to the public for marketing
4    purposes.
5        (11) Sells, leases, or offers for sale or lease real
6    estate at auction.
7    "Brokerage agreement" means a written or oral agreement
8between a sponsoring broker and a consumer for licensed
9activities to be provided to a consumer in return for
10compensation or the right to receive compensation from another.
11Brokerage agreements may constitute either a bilateral or a
12unilateral agreement between the broker and the broker's client
13depending upon the content of the brokerage agreement. All
14exclusive brokerage agreements shall be in writing.
15    "Client" means a person who is being represented by a
17    "Compensation" means the valuable consideration given by
18one person or entity to another person or entity in exchange
19for the performance of some activity or service. Compensation
20shall include the transfer of valuable consideration,
21including without limitation the following:
22        (1) commissions;
23        (2) referral fees;
24        (3) bonuses;
25        (4) prizes;
26        (5) merchandise;



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1        (6) finder fees;
2        (7) performance of services;
3        (8) coupons or gift certificates;
4        (9) discounts;
5        (10) rebates;
6        (11) a chance to win a raffle, drawing, lottery, or
7    similar game of chance not prohibited by any other law or
8    statute;
9        (12) retainer fee; or
10        (13) salary.
11    "Confidential information" means information obtained by a
12licensee from a client during the term of a brokerage agreement
13that (i) was made confidential by the written request or
14written instruction of the client, (ii) deals with the
15negotiating position of the client, or (iii) is information the
16disclosure of which could materially harm the negotiating
17position of the client, unless at any time:
18        (1) the client permits the disclosure of information
19    given by that client by word or conduct;
20        (2) the disclosure is required by law; or
21        (3) the information becomes public from a source other
22    than the licensee.
23    "Confidential information" shall not be considered to
24include material information about the physical condition of
25the property.
26    "Consumer" means a person or entity seeking or receiving



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1licensed activities.
2    "Continuing education school" means any person licensed by
3the Department as a school for continuing education in
4accordance with Section 30-15 of this Act.
5    "Coordinator" means the Coordinator of Real Estate created
6in Section 25-15 of this Act.
7    "Credit hour" means 50 minutes of classroom instruction in
8course work that meets the requirements set forth in rules
9adopted by the Department.
10    "Customer" means a consumer who is not being represented by
11the licensee but for whom the licensee is performing
12ministerial acts.
13    "Department" means the Department of Financial and
14Professional Regulation.
15    "Designated agency" means a contractual relationship
16between a sponsoring broker and a client under Section 15-50 of
17this Act in which one or more licensees associated with or
18employed by the broker are designated as agent of the client.
19    "Designated agent" means a sponsored licensee named by a
20sponsoring broker as the legal agent of a client, as provided
21for in Section 15-50 of this Act.
22    "Dual agency" means an agency relationship in which a
23licensee is representing both buyer and seller or both landlord
24and tenant in the same transaction. When the agency
25relationship is a designated agency, the question of whether
26there is a dual agency shall be determined by the agency



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1relationships of the designated agent of the parties and not of
2the sponsoring broker.
3    "Employee" or other derivative of the word "employee", when
4used to refer to, describe, or delineate the relationship
5between a real estate broker and a real estate salesperson,
6another real estate broker, or a leasing agent, shall be
7construed to include an independent contractor relationship,
8provided that a written agreement exists that clearly
9establishes and states the relationship. All responsibilities
10of a broker shall remain.
11    "Escrow moneys" means all moneys, promissory notes or any
12other type or manner of legal tender or financial consideration
13deposited with any person for the benefit of the parties to the
14transaction. A transaction exists once an agreement has been
15reached and an accepted real estate contract signed or lease
16agreed to by the parties. Escrow moneys includes without
17limitation earnest moneys and security deposits, except those
18security deposits in which the person holding the security
19deposit is also the sole owner of the property being leased and
20for which the security deposit is being held.
21    "Electronic means of proctoring" means a methodology
22providing assurance that the person taking a test and
23completing the answers to questions is the person seeking
24licensure or credit for continuing education and is doing so
25without the aid of a third party or other device.
26    "Exclusive brokerage agreement" means a written brokerage



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1agreement that provides that the sponsoring broker has the sole
2right, through one or more sponsored licensees, to act as the
3exclusive designated agent or representative of the client and
4that meets the requirements of Section 15-75 of this Act.
5    "Inoperative" means a status of licensure where the
6licensee holds a current license under this Act, but the
7licensee is prohibited from engaging in licensed activities
8because the licensee is unsponsored or the license of the
9sponsoring broker with whom the licensee is associated or by
10whom he or she is employed is currently expired, revoked,
11suspended, or otherwise rendered invalid under this Act.
12    "Interactive delivery method" means delivery of a course by
13an instructor through a medium allowing for 2-way communication
14between the instructor and a student in which either can
15initiate or respond to questions.
16    "Leads" means the name or names of a potential buyer,
17seller, lessor, lessee, or client of a licensee.
18    "Leasing Agent" means a person who is employed by a real
19estate broker to engage in licensed activities limited to
20leasing residential real estate who has obtained a license as
21provided for in Section 5-5 of this Act.
22    "License" means the document issued by the Department
23certifying that the person named thereon has fulfilled all
24requirements prerequisite to licensure under this Act.
25    "Licensed activities" means those activities listed in the
26definition of "broker" under this Section.



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1    "Licensee" means any person, as defined in this Section,
2who holds a valid unexpired license as a real estate broker,
3real estate salesperson, or leasing agent.
4    "Listing presentation" means a communication between a
5real estate broker or salesperson and a consumer in which the
6licensee is attempting to secure a brokerage agreement with the
7consumer to market the consumer's real estate for sale or
9    "Managing broker" means a broker who has supervisory
10responsibilities for licensees in one or, in the case of a
11multi-office company, more than one office and who has been
12appointed as such by the sponsoring broker.
13    "Medium of advertising" means any method of communication
14intended to influence the general public to use or purchase a
15particular good or service or real estate.
16    "Ministerial acts" means those acts that a licensee may
17perform for a consumer that are informative or clerical in
18nature and do not rise to the level of active representation on
19behalf of a consumer. Examples of these acts include without
20limitation (i) responding to phone inquiries by consumers as to
21the availability and pricing of brokerage services, (ii)
22responding to phone inquiries from a consumer concerning the
23price or location of property, (iii) attending an open house
24and responding to questions about the property from a consumer,
25(iv) setting an appointment to view property, (v) responding to
26questions of consumers walking into a licensee's office



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1concerning brokerage services offered or particular
2properties, (vi) accompanying an appraiser, inspector,
3contractor, or similar third party on a visit to a property,
4(vii) describing a property or the property's condition in
5response to a consumer's inquiry, (viii) completing business or
6factual information for a consumer on an offer or contract to
7purchase on behalf of a client, (ix) showing a client through a
8property being sold by an owner on his or her own behalf, or
9(x) referral to another broker or service provider.
10    "Office" means a real estate broker's place of business
11where the general public is invited to transact business and
12where records may be maintained and licenses displayed, whether
13or not it is the broker's principal place of business.
14    "Person" means and includes individuals, entities,
15corporations, limited liability companies, registered limited
16liability partnerships, and partnerships, foreign or domestic,
17except that when the context otherwise requires, the term may
18refer to a single individual or other described entity.
19    "Personal assistant" means a licensed or unlicensed person
20who has been hired for the purpose of aiding or assisting a
21sponsored licensee in the performance of the sponsored
22licensee's job.
23    "Pocket card" means the card issued by the Department to
24signify that the person named on the card is currently licensed
25under this Act.
26    "Pre-license school" means a school licensed by the



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1Department offering courses in subjects related to real estate
2transactions, including the subjects upon which an applicant is
3examined in determining fitness to receive a license.
4    "Pre-renewal period" means the period between the date of
5issue of a currently valid license and the license's expiration
7    "Proctor" means any person, including, but not limited to,
8an instructor, who has a written agreement to administer
9examinations fairly and impartially with a licensed
10pre-license school or a licensed continuing education school.
11    "Real estate" means and includes leaseholds as well as any
12other interest or estate in land, whether corporeal,
13incorporeal, freehold, or non-freehold, including timeshare
14interests, and whether the real estate is situated in this
15State or elsewhere.
16    "Regular employee" means a person working an average of 20
17hours per week for a person or entity who would be considered
18as an employee under the Internal Revenue Service eleven main
19tests in three categories being behavioral control, financial
20control and the type of relationship of the parties, formerly
21the twenty factor test.
22    "Salesperson" means any individual, other than a real
23estate broker or leasing agent, who is employed by a real
24estate broker or is associated by written agreement with a real
25estate broker as an independent contractor and participates in
26any activity described in the definition of "broker" under this



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2    "Secretary" means the Secretary of the Department of
3Financial and Professional Regulation, or a person authorized
4by the Secretary to act in the Secretary's stead.
5    "Sponsoring broker" means the broker who has issued a
6sponsor card to a licensed salesperson, another licensed
7broker, or a leasing agent.
8    "Sponsor card" means the temporary permit issued by the
9sponsoring real estate broker certifying that the real estate
10broker, real estate salesperson, or leasing agent named thereon
11is employed by or associated by written agreement with the
12sponsoring real estate broker, as provided for in Section 5-40
13of this Act.
14(Source: P.A. 96-856, eff. 12-31-09.)
15    (225 ILCS 454/5-27)
16    (Section scheduled to be repealed on January 1, 2020)
17    Sec. 5-27. Requirements for licensure as a broker.
18    (a) Every applicant for licensure as a broker must meet the
19following qualifications:
20        (1) Be at least 21 years of age. After April 30, 2011,
21    the minimum age of 21 years shall be waived for any person
22    seeking a license as a broker who has attained the age of
23    18 and can provide evidence of the successful completion of
24    at least 4 semesters of post-secondary school study as a
25    full-time student or the equivalent, with major emphasis on



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1    real estate courses, in a school approved by the
2    Department;
3        (2) Be of good moral character;
4        (3) Successfully complete a 4-year course of study in a
5    high school or secondary school approved by the Illinois
6    State Board of Education or an equivalent course of study
7    as determined by an examination conducted by the Illinois
8    State Board of Education which shall be verified under oath
9    by the applicant;
10        (4) Prior to May 1, 2011, provide (i) satisfactory
11    evidence of having completed at least 120 classroom hours,
12    45 of which shall be those hours required to obtain a
13    salesperson's license plus 15 hours in brokerage
14    administration courses, in real estate courses approved by
15    the Advisory Council or (ii) for applicants who currently
16    hold a valid real estate salesperson's license, give
17    satisfactory evidence of having completed at least 75 hours
18    in real estate courses, not including the courses that are
19    required to obtain a salesperson's license, approved by the
20    Advisory Council;
21        (5) After April 30, 2011, provide satisfactory
22    evidence of having completed 90 hours of instruction in
23    real estate courses approved by the Advisory Council, 15
24    hours of which must consist of situational and case studies
25    presented in the classroom or by other interactive delivery
26    method presenting instruction and real time discussion



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1    between the instructor and the students;
2        (6) Personally take and pass a written examination
3    authorized by the Department;
4        (7) Present a valid application for issuance of a
5    license accompanied by a sponsor card and the fees
6    specified by rule.
7    (b) The requirements specified in items (4) and (5) of
8subsection (a) of this Section do not apply to applicants who
9are currently admitted to practice law by the Supreme Court of
10Illinois and are currently in active standing.
11    (c) No applicant shall engage in any of the activities
12covered by this Act until a valid sponsor card has been issued
13to such applicant. The sponsor card shall be valid for a
14maximum period of 45 days after the date of issuance unless
15extended for good cause as provided by rule.
16    (d) All licenses should be readily available to the public
17at their place of business.
18    (e) An individual holding an active license as a managing
19broker may return the license to the Department along with a
20form provided by the Department and shall be issued a broker's
21license in exchange. Any individual obtaining a broker's
22license under this subsection (e) shall be considered as having
23obtained a broker's license by education and passing the
24required test and shall be treated as such in determining
25compliance with this Act.
26(Source: P.A. 96-856, eff. 12-31-09.)



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1    (225 ILCS 454/5-28)
2    (Section scheduled to be repealed on January 1, 2020)
3    Sec. 5-28. Requirements for licensure as a managing broker.
4    (a) Effective May 1, 2012, every applicant for licensure as
5a managing broker must meet the following qualifications:
6        (1) be at least 21 years of age;
7        (2) be of good moral character;
8        (3) have been licensed at least 2 out of the preceding
9    3 years as a real estate broker or salesperson;
10        (4) successfully complete a 4-year course of study in
11    high school or secondary school approved by the Illinois
12    State Board of Education or an equivalent course of study
13    as determined by an examination conducted by the Illinois
14    State Board of Education, which shall be verified under
15    oath by the applicant;
16        (5) provide satisfactory evidence of having completed
17    at least 165 hours, 120 of which shall be those hours
18    required pre and post-licensure to obtain a broker's
19    license, and 45 additional hours completed within the year
20    immediately preceding the filing of an application for a
21    managing broker's license, which hours shall focus on
22    brokerage administration and management and include at
23    least 15 hours in the classroom or by other interactive
24    delivery method presenting instructional and real time
25    discussion between the instructor and the students;



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1        (6) personally take and pass a written examination
2    authorized by the Department; and
3        (7) present a valid application for issuance of a
4    license accompanied by a sponsor card, an appointment as a
5    managing broker, and the fees specified by rule.
6    (b) The requirements specified in item (5) of subsection
7(a) of this Section do not apply to applicants who are
8currently admitted to practice law by the Supreme Court of
9Illinois and are currently in active standing.
10    (c) No applicant shall act as a managing broker for more
11than 90 days after an appointment as a managing broker has been
12filed with the Department without obtaining a managing broker's
14(Source: P.A. 96-856, eff. 12-31-09.)
15    (225 ILCS 454/5-50)
16    (Section scheduled to be repealed on January 1, 2020)
17    Sec. 5-50. Expiration and renewal of managing broker,
18broker, salesperson, or leasing agent license; sponsoring
19broker; register of licensees; pocket card.
20    (a) The expiration date and renewal period for each license
21issued under this Act shall be set by rule, except that the
22first renewal period ending after the effective date of this
23Act for those licensed as a salesperson shall be extended
24through April 30, 2012. Except as otherwise provided in this
25Section, the holder of a license may renew the license within



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190 days preceding the expiration date thereof by completing the
2continuing education required by this Act and paying the fees
3specified by rule.
4    (b) An individual whose first license is that of a broker
5received after April 30, 2011, must provide evidence of having
6completed 30 hours of post-license education in courses
7approved by the Advisory Council, 15 hours of which must
8consist of situational and case studies presented in the
9classroom or by other interactive delivery method presenting
10instruction and real time discussion between the instructor and
11the students, and personally take and pass an examination
12approved by the Department prior to the first renewal of their
13broker's license.
14    (c) Any salesperson until April 30, 2011 or any managing
15broker, broker, or leasing agent whose license under this Act
16has expired shall be eligible to renew the license during the
172-year period following the expiration date, provided the
18managing broker, broker, salesperson, or leasing agent pays the
19fees as prescribed by rule and completes continuing education
20and other requirements provided for by the Act or by rule.
21Beginning on May 1, 2012, a managing broker licensee, broker,
22or leasing agent whose license has been expired for more than 2
23years but less than 5 years may have it restored by (i)
24applying to the Department, (ii) paying the required fee, (iii)
25completing the continuing education requirements for the most
26recent pre-renewal period that ended prior to the date of the



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1application for reinstatement, and (iv) filing acceptable
2proof of fitness to have his or her license restored, as set by
3rule. A managing broker, broker, or leasing agent whose license
4has been expired for more than 5 years shall be required to
5meet the requirements for a new license.
6    (d) Notwithstanding any other provisions of this Act to the
7contrary, any managing broker, broker, salesperson, or leasing
8agent whose license expired while he or she was (i) on active
9duty with the Armed Forces of the United States or called into
10service or training by the state militia, (ii) engaged in
11training or education under the supervision of the United
12States preliminary to induction into military service, or (iii)
13serving as the Coordinator of Real Estate in the State of
14Illinois or as an employee of the Department may have his or
15her license renewed, reinstated or restored without paying any
16lapsed renewal fees if within 2 years after the termination of
17the service, training or education by furnishing the Department
18with satisfactory evidence of service, training, or education
19and it has been terminated under honorable conditions.
20     (e) The Department shall establish and maintain a register
21of all persons currently licensed by the State and shall issue
22and prescribe a form of pocket card. Upon payment by a licensee
23of the appropriate fee as prescribed by rule for engagement in
24the activity for which the licensee is qualified and holds a
25license for the current period, the Department shall issue a
26pocket card to the licensee. The pocket card shall be



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1verification that the required fee for the current period has
2been paid and shall indicate that the person named thereon is
3licensed for the current renewal period as a managing broker,
4broker, salesperson, or leasing agent as the case may be. The
5pocket card shall further indicate that the person named
6thereon is authorized by the Department to engage in the
7licensed activity appropriate for his or her status (managing
8broker, broker, salesperson, or leasing agent). Each licensee
9shall carry on his or her person his or her pocket card or, if
10such pocket card has not yet been issued, a properly issued
11sponsor card when engaging in any licensed activity and shall
12display the same on demand.
13    (f) The Department shall provide to the sponsoring broker a
14notice of renewal for all sponsored licensees by mailing the
15notice to the sponsoring broker's address of record, or, at the
16Department's discretion, by an electronic means as provided for
17by rule.
18    (g) Upon request from the sponsoring broker, the Department
19shall make available to the sponsoring broker, either by mail
20or by an electronic means at the discretion of the Department,
21a listing of licensees under this Act who, according to the
22records of the Department, are sponsored by that broker. Every
23licensee associated with or employed by a broker whose license
24is revoked, suspended, terminated, or expired shall be
25considered as inoperative until such time as the sponsoring
26broker's license is reinstated or renewed, or the licensee



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1changes employment as set forth in subsection (c) of Section
25-40 of this Act.
3(Source: P.A. 96-856, eff. 12-31-09; 96-989, eff. 1-1-11.)
4    (225 ILCS 454/5-70)
5    (Section scheduled to be repealed on January 1, 2020)
6    Sec. 5-70. Continuing education requirement; managing
7broker, broker, or salesperson.
8    (a) The requirements of this Section apply to all managing
9brokers, brokers, and salespersons.
10    (b) Except as otherwise provided in this Section, each
11person who applies for renewal of his or her license as a
12managing broker, real estate broker, or real estate salesperson
13must successfully complete 6 hours of real estate continuing
14education courses approved by the Advisory Council for each
15year of the pre-renewal period. Broker licensees must
16successfully complete a 6-hour broker management continuing
17education course approved by the Department for the pre-renewal
18period ending April 30, 2010. In addition, beginning with the
19pre-renewal period for managing broker licensees that begins
20after the effective date of this Act, those licensees renewing
21or obtaining a managing broker's license must successfully
22complete a 12-hour broker management continuing education
23course approved by the Department each pre-renewal period. The
24broker management continuing education course must be
25completed in the classroom or by other interactive delivery



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1method presenting instruction and real time discussion between
2the instructor and the students. Successful completion of the
3course shall include achieving a passing score as provided by
4rule on a test developed and administered in accordance with
5rules adopted by the Department. No license may be renewed
6except upon the successful completion of the required courses
7or their equivalent or upon a waiver of those requirements for
8good cause shown as determined by the Secretary with the
9recommendation of the Advisory Council. The requirements of
10this Article are applicable to all managing brokers, brokers,
11and salespersons except those brokers and salespersons who,
12during the pre-renewal period:
13        (1) serve in the armed services of the United States;
14        (2) serve as an elected State or federal official;
15        (3) serve as a full-time employee of the Department; or
16        (4) are admitted to practice law pursuant to Illinois
17    Supreme Court rule.
18    (c) A person licensed as a salesperson as of April 30, 2011
19shall not be required to complete the 18 hours of continuing
20education for the pre-renewal period ending April 30, 2012 if
21that person takes the 30-hour post-licensing course to obtain a
22broker's license. A person licensed as a broker as of April 30,
232011 shall not be required to complete the 12 hours of broker
24management continuing education for the pre-renewal period
25ending April 30, 2012, unless that person passes the
26proficiency exam provided for in Section 5-47 of this Act to



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1qualify for a managing broker's license.
2    (d) A person receiving an initial license during the 90
3days before the renewal date shall not be required to complete
4the continuing education courses provided for in subsection (b)
5of this Section as a condition of initial license renewal.
6    (e) The continuing education requirement for salespersons,
7brokers and managing brokers shall consist of a core curriculum
8and an elective curriculum, to be established by the Advisory
9Council. In meeting the continuing education requirements of
10this Act, at least 3 hours per year or their equivalent, 6
11hours for each two-year pre-renewal period, shall be required
12to be completed in the core curriculum. In establishing the
13core curriculum, the Advisory Council shall consider subjects
14that will educate licensees on recent changes in applicable
15laws and new laws and refresh the licensee on areas of the
16license law and the Department policy that the Advisory Council
17deems appropriate, and any other areas that the Advisory
18Council deems timely and applicable in order to prevent
19violations of this Act and to protect the public. In
20establishing the elective curriculum, the Advisory Council
21shall consider subjects that cover the various aspects of the
22practice of real estate that are covered under the scope of
23this Act. However, the elective curriculum shall not include
24any offerings referred to in Section 5-85 of this Act.
25    (f) The subject areas of continuing education courses
26approved by the Advisory Council may include without limitation



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1the following:
2        (1) license law and escrow;
3        (2) antitrust;
4        (3) fair housing;
5        (4) agency;
6        (5) appraisal;
7        (6) property management;
8        (7) residential brokerage;
9        (8) farm property management;
10        (9) rights and duties of sellers, buyers, and brokers;
11        (10) commercial brokerage and leasing; and
12        (11) real estate financing.
13    (g) In lieu of credit for those courses listed in
14subsection (f) of this Section, credit may be earned for
15serving as a licensed instructor in an approved course of
16continuing education. The amount of credit earned for teaching
17a course shall be the amount of continuing education credit for
18which the course is approved for licensees taking the course.
19    (h) Credit hours may be earned for self-study programs
20approved by the Advisory Council.
21    (i) A broker or salesperson may earn credit for a specific
22continuing education course only once during the prerenewal
24    (j) No more than 6 hours of continuing education credit may
25be taken or earned in one calendar day.
26    (k) To promote the offering of a uniform and consistent



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1course content, the Department may provide for the development
2of a single broker management course to be offered by all
3continuing education providers who choose to offer the broker
4management continuing education course. The Department may
5contract for the development of the 12-hour broker management
6continuing education course with an outside vendor or
7consultant and, if the course is developed in this manner, the
8Department or the outside consultant shall license the use of
9that course to all approved continuing education providers who
10wish to provide the course.
11    (l) Except as specifically provided in this Act, continuing
12education credit hours may not be earned for completion of pre
13or post-license courses. The approved 30-hour post-license
14course for broker licensees shall satisfy the continuing
15education requirement for the pre-renewal period in which the
16course is taken. The approved 45-hour brokerage administration
17and management course shall satisfy the 12-hour broker
18management continuing education requirement for the
19pre-renewal period in which the course is taken.
20(Source: P.A. 96-856, eff. 12-31-09; 97-1002, eff. 8-17-12.)
21    (225 ILCS 454/10-25)
22    (Section scheduled to be repealed on January 1, 2020)
23    Sec. 10-25. Expiration of brokerage agreement. No licensee
24shall obtain any written brokerage agreement that does not
25either provide for automatic expiration within a definite



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1period of time or provide the client with a right to terminate
2the agreement annually by giving no more than 30 days' prior
3written notice. No notice of termination at the final
4expiration thereof shall be required. Any written brokerage
5agreement not containing such a provision for automatic
6expiration shall be void. When the license of any sponsoring
7broker is suspended or revoked, any brokerage agreement with
8the sponsoring broker shall be deemed to expire upon the
9effective date of the suspension or revocation.
10(Source: P.A. 91-245, eff. 12-31-99.)
11    Section 99. Effective date. This Act takes effect upon
12becoming law.".