95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4313


 
Introduced , by Rep. Robert S. Molaro
 
SYNOPSIS AS INTRODUCED:
 		














225 ILCS 454/10-15









    Amends the Real Estate License Act of 2000.  Provides that no licensee shall give or pay cash rebates, cash gifts, or cash prizes to an unlicensed person who is a party to a contract to buy or sell real estate.  Provides that a licensee may offer compensation, including prizes, merchandise,
services, rebates,
discounts, or other consideration to an unlicensed person who is a party to the lease of real estate, so long
as the offer complies with
certain  provisions of the
Act.  Effective immediately.
















LRB095 14919 KBJ 40864 b

















 


 


A BILL FOR









 











HB4313

LRB095 14919 KBJ 40864 b






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    AN ACT concerning regulation.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Real Estate License Act of 2000 is amended  
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by changing Section 10-15 as follows:
 



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    (225 ILCS 454/10-15)



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    (Section scheduled to be repealed on January 1, 2010)

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    Sec. 10-15. No compensation to persons in violation of Act; 
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compensation
to unlicensed
persons; consumer.

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    (a) No compensation may be paid to any unlicensed person in 
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exchange for the
person
performing licensed activities in 
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violation of this Act.

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    (b) No action or suit shall be instituted, nor recovery 
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therein be had, in
any court of this State
by any person, 
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partnership, registered limited liability partnership, limited

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liability company, or
corporation for compensation for any act 
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done or service performed, the doing
or performing of
which is 
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prohibited by this Act to other than licensed brokers, 
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salespersons,
or leasing agents unless
the person, 
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partnership, registered limited liability partnership, limited

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liability company, or corporation was duly
licensed hereunder 
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as a
broker, salesperson, or leasing agent under this Act at 
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the time that any such
act was done or service
performed that 
 


 






HB4313
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LRB095 14919 KBJ 40864 b




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would give rise to a cause of action for compensation.

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    (c) No licensee shall give or pay cash rebates, cash gifts, 
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or cash prizes to an unlicensed person who is a party to a 
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contract to buy or sell real estate. A licensee may offer 
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compensation, including prizes, merchandise,
services, 
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rebates,
discounts, or other consideration to an unlicensed 
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person who is a party to a
contract to buy or sell
real estate 
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or is a party to a contract for the lease of real estate, so 
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long
as the offer complies with
the provisions of subdivision 
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(26) of subsection (h) of Section 20-20 of this
Act.

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    (d) A licensee may offer cash, gifts, prizes, awards, 
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coupons, merchandise,
rebates or chances
to win a game of 
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chance, if not prohibited by any other law or statute,
to a 
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consumer as an
inducement to that consumer to use the services 
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of the licensee even if the
licensee and consumer
do not 
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ultimately enter into a broker-client relationship so long as 
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the offer
complies with the
provisions of subdivision (26) of 
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subsection (h) of Section 20-20 of this Act.

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(Source: P.A. 91-245, eff. 12-31-99.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.