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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.

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225 ILCS 454/5-28

    (225 ILCS 454/5-28)
    (Text of Section before amendment by P.A. 102-1100)
    (Section scheduled to be repealed on January 1, 2030)
    Sec. 5-28. Requirements for licensure as a managing broker.
    (a) Every applicant for licensure as a managing broker must meet the following qualifications:
        (1) be at least 20 years of age;
        (2) be of good moral character;
        (3) have been licensed at least 2 consecutive years
    
out of the preceding 3 years as a broker;
        (4) successfully complete a 4-year course of study in
    
high school or secondary school approved by the state in which the school is located, or a high school equivalency certificate, which shall be verified under oath by the applicant;
        (5) provide satisfactory evidence of having completed
    
at least 165 hours, 120 of which shall be those hours required pre-licensure and post-licensure to obtain a broker's license, and 45 additional hours completed within the year immediately preceding the filing of an application for a managing broker's license, which hours shall focus on brokerage administration and management and residential leasing agent management and include at least 15 hours in the classroom or by live, interactive webinar or online distance education courses;
        (6) personally take and pass a written examination
    
authorized by the Department; and
        (7) submit a valid application for issuance of a
    
license accompanied by the fees specified by rule.
    (b) The requirements specified in item (5) of subsection (a) of this Section do not apply to applicants who are currently admitted to practice law by the Supreme Court of Illinois and are currently in active standing.
(Source: P.A. 100-188, eff. 1-1-18; 101-357, eff. 8-9-19.)
 
    (Text of Section after amendment by P.A. 102-1100)
    (Section scheduled to be repealed on January 1, 2030)
    Sec. 5-28. Requirements for licensure as a managing broker.
    (a) Every applicant for licensure as a managing broker must meet the following qualifications:
        (1) be at least 20 years of age;
        (2) be of good moral character;
        (3) have been licensed at least 2 consecutive years
    
out of the preceding 3 years as a broker;
        (4) successfully complete a 4-year course of study in
    
high school or secondary school approved by the state in which the school is located, or a State of Illinois High School Diploma, which shall be verified under oath by the applicant;
        (5) provide satisfactory evidence of having completed
    
at least 165 hours, 120 of which shall be those hours required pre-licensure and post-licensure to obtain a broker's license, and 45 additional hours completed within the year immediately preceding the filing of an application for a managing broker's license, which hours shall focus on brokerage administration and management and residential leasing agent management and include at least 15 hours in the classroom or by live, interactive webinar or online distance education courses;
        (6) personally take and pass a written examination
    
authorized by the Department; and
        (7) submit a valid application for issuance of a
    
license accompanied by the fees specified by rule.
    (b) The requirements specified in item (5) of subsection (a) of this Section do not apply to applicants who are currently admitted to practice law by the Supreme Court of Illinois and are currently in active standing.
(Source: P.A. 101-357, eff. 8-9-19; 102-1100, eff. 1-1-23.)