IL SB3393 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 16 2018 - 25% progression
Action: 2018-09-30 - Chief Sponsor Changed to Sen. William E. Brady
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Real Estate License Act of 2000. Removes provisions relating to sponsor cards issued by sponsoring brokers to managing brokers, brokers, or leasing agents. Adds provisions requiring a sponsoring broker to notify the Department of Financial and Professional Regulation within 24 hours of a sponsorship of a licensee in a manner provided by rule. When a licensee's employment with a sponsoring broker is terminated, requires the licensee and sponsoring broker to notify the Department of the termination within 24 hours in a manner provided by rule. Provides that the failure to provide that notification shall subject the sponsoring broker or licensee to discipline. Adds provisions regarding the Department's recognition of a sponsorship by a sponsoring broker. Makes conforming and other changes. Effective immediately.

Tracking Information

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Title

REAL ESTATE ACT-SPONSOR CARDS

Sponsors


History

DateChamberAction
2018-09-30SenateChief Sponsor Changed to Sen. William E. Brady
2018-04-13SenateRule 3-9(a) / Re-referred to Assignments
2018-02-27SenateAssigned to Licensed Activities and Pensions
2018-02-16SenateReferred to Assignments
2018-02-16SenateFirst Reading
2018-02-16SenateFiled with Secretary by Sen. Pamela J. Althoff

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2254541-10Amended CodeCitation Text
22545420-20Amended CodeCitation Text
2254545-10Amended CodeCitation Text
2254545-15Amended CodeCitation Text
2254545-27Amended CodeCitation Text
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2254545-40Amended CodeCitation Text
2254545-50Amended CodeCitation Text

Illinois State Sources


Bill Comments

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