Illinois Compiled Statutes - Full Text

  1. Home
  2. Legislation
  3. Illinois Compiled Statutes

Illinois Compiled Statutes - Full Text

Illinois Compiled Statutes (ILCS)

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.


225 ILCS 459/15

    (225 ILCS 459/15)
    Sec. 15. Exemptions.
    (a) Nothing in this Act shall apply to any of the following:
        (1) an agency of the federal, State, county, or
    
municipal government or an officer or employee of a government agency, or person, described in this Section when acting within the scope of employment of the officer or employee;
        (2) a corporate relocation company when the
    
appraisal is not used for mortgage purposes and the end user client is an employer company;
        (3) any person licensed in this State under any
    
other Act while engaged in the activities or practice for which he or she is licensed;
        (4) any person licensed to practice law in this
    
State who is working with or on behalf of a client of that person in connection with one or more appraisals for that client;
        (5) an appraiser that enters into an agreement,
    
whether written or otherwise, with another appraiser for the performance of an appraisal, and upon the completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the appraiser who requested the completion of the appraisal, except that an appraisal management company may not avoid the requirement of registration under this Act by requiring an employee of the appraisal management company who is an appraiser to sign an appraisal that was completed by another appraiser who is part of the appraisal panel of the appraisal management company;
        (6) any person acting as an agent of the Illinois
    
Department of Transportation in the acquisition or relinquishment of land for transportation issues to the extent of their contract scope;
        (7) a design professional entity when the appraisal
    
is not used for mortgage purposes and the end user client is an agency of State government or a unit of local government;
        (8) an appraiser firm whose ownership is
    
appropriately certified under the Real Estate Appraiser Licensing Act of 2002;
        (9) an appraisal management company solely engaged
    
in non-residential appraisal management services; or
        (10) a department or division of an entity that
    
provides appraisal management services only to that entity.
    (b) A federally regulated appraisal management company shall register with the Department for the sole purpose of collecting required information for, and to pay all fees associated with, the State of Illinois' obligation to register the federally regulated appraisal management company with the Appraisal Management Companies National Registry, but the federally regulated appraisal management company is otherwise exempt from all other provisions in this Act.
    (c) In the event that the Final Interim Rule of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act provides that an appraisal management company is a subsidiary owned and controlled by a financial institution regulated by a federal financial institution's regulatory agency and is exempt from State appraisal management company registration requirements, the Department, shall, by rule, provide for the implementation of such an exemption.
(Source: P.A. 102-20, eff. 1-1-22.)