Bill Title: Amends the Real Estate License Act of 2000. Creates a provision concerning the confidentiality of all information collected by the Department in the course of an examination or investigation of a licensee or applicant. Removes language that provides that when any aggrieved party commences action for a judgment that may result in collection from the Real Estate Recovery Fund, the aggrieved person must notify the Department of Financial and Professional Regulation in writing to this effect within 7 days of the commencement of the action. Provides that an aggrieved party, in an action that may result in a judgment that may result in the collection from the Real Estate Recovery Fund, shall give written notice to the Department within 30 days after entry of the judgment and provide the Department with copies of the pleadings upon which the default judgment was entered and of the default judgment order. Provides that the Department shall file a written response with the court stating that the Department has no objection to a claim on the Real Estate Recovery Fund by the aggrieved party or that the Department objects to such claim stating the basis for such objection. Provides that there is no limitation as to when an action against a person for violating the terms of the Act or its rules may be taken by the Department if it is alleged that an initial application for licensure contains false or misleading information. Also makes changes in provisions concerning continuing education requirements; managing brokers, brokers, or salespersons; advertising; grounds for discipline; and power of the Department to defend. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2012-08-17 - Public Act . . . . . . . . . 97-1002 [HB5359 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2012-08-20	HTML/Text	Link	View
Enrolled	2012-05-30	HTML/Text	Link	View
Amended	2012-04-17	HTML/Text	Link	View
Engrossed	2012-03-21	HTML/Text	Link	View
Introduced	2012-02-08	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5359

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5359 currently on file.

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