Section 225 ILCS 454/5-60 - [Effective 1/1/2025] [Section Scheduled to be Repealed 1/1/2030] Managing broker licensed in another state; broker licensed in another state; reciprocal agreements; agent for service of process(a) A managing broker's license may be issued by the Department to a managing broker or its equivalent licensed under the laws of another state of the United States, under the following conditions: (1) the managing broker holds a managing broker's license in a state that has entered into a reciprocal agreement with the Department;(2) the standards for that state for licensing as a managing broker are substantially equal to or greater than the minimum standards in the State of Illinois;(3) the managing broker has been actively practicing as a managing broker in the managing broker's state of licensure for a period of not less than 2 years, immediately prior to the date of application;(4) the managing broker furnishes the Department with a statement under seal of the proper licensing authority of the state in which the managing broker is licensed showing that the managing broker has an active managing broker's license, that the managing broker is in good standing, and any disciplinary action taken against the managing broker in that state;(5) the managing broker passes a test on Illinois specific real estate brokerage laws; and(6) the managing broker was licensed by an examination in the state that has entered into a reciprocal agreement with the Department.(b) A broker's license may be issued by the Department to a broker or its equivalent licensed under the laws of another state of the United States, under the following conditions:(1) the broker holds a broker's license in a state that has entered into a reciprocal agreement with the Department;(2) the standards for that state for licensing as a broker are substantially equivalent to or greater than the minimum standards in the State of Illinois;(4) the broker furnishes the Department with a statement under seal of the proper licensing authority of the state in which the broker is licensed showing that the broker has an active broker's license, that the broker is in good standing, and any disciplinary action taken against the broker in that state;(5) the broker passes a test on Illinois specific real estate brokerage laws; and(6) the broker was licensed by an examination in a state that has entered into a reciprocal agreement with the Department.(d) As a condition precedent to the issuance of a license to a managing broker or broker pursuant to this Section, the managing broker or broker shall agree in writing to abide by all the provisions of this Act with respect to real estate activities within the State of Illinois and submit to the jurisdiction of the Department as provided in this Act. The agreement shall be filed with the Department and shall remain in force for so long as the managing broker or broker is licensed by this State and thereafter with respect to acts or omissions committed while licensed as a managing broker or broker in this State.(e) The same fees must be paid as provided in this Act for the obtaining of a managing broker's or broker's license in this State.(f) Licenses previously granted under reciprocal agreements with other states shall remain in force so long as the Department has a reciprocal agreement with the state that includes the requirements of this Section, unless that license is suspended, revoked, or terminated by the Department for any reason provided for suspension, revocation, or termination of a resident licensee's license. Licenses granted under reciprocal agreements may be renewed in the same manner as a resident's license.(g) Prior to the issuance of a license to a nonresident managing broker or broker, the managing broker or broker shall file with the Department, in a manner prescribed by the Department, a designation in writing that appoints the Secretary to act as agent upon whom all judicial and other process or legal notices directed to the managing broker or broker may be served. Service upon the agent so designated shall be equivalent to personal service upon the licensee. Copies of the appointment, certified by the Secretary, shall be deemed sufficient evidence thereof and shall be admitted in evidence with the same force and effect as the original thereof might be admitted. In the written designation, the managing broker or broker shall agree that any lawful process against the licensee that is served upon the agent shall be of the same legal force and validity as if served upon the licensee and that the authority shall continue in force so long as any liability remains outstanding in this State. Upon the receipt of any process or notice, the Secretary shall forthwith deliver a copy of the same by regular mail or email to the last known business address or email address of the licensee.(i) This Section is repealed on January 1, 2026.Amended by P.A. 103-1039,§ 10, eff. 1/1/2025.Amended by P.A. 103-0236,§ 20, eff. 1/1/2024.Amended by P.A. 101-0357,§ 10, eff. 8/9/2019.Amended by P.A. 099-0227,§ 955, eff. 8/3/2015.Amended by P.A. 096-0856,§ 20, eff. 12/31/2009. P.A. 91-245, eff. 12-31-99; 91-702, eff. 5-12-00.This section is set out more than once due to postponed, multiple, or conflicting amendments.