Bill Texts: IL HB5209 | 2017-2018 | 100th General Assembly
Bill Title: 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.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HB5209 Detail]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HB5209 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
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Introduced | 2018-02-15 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
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No bill amendments currently on file for Illinois HB5209 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
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No supplemental documents for Illinois HB5209 currently on file. |