Occupation:Business Brokers
Agency:Secretary of State
Job Description:Persons who, in return for a fee, commission, or other compensation from any person who is domiciled in the State of Illinois, promises to procure a business or assist in the procurement of a business, negotiates offers, buys, sells, or otherwise deals in options on businesses, or assists or directs the procurement of prospects intended to result in the purchase, sale, exchange of a business, or advertises or represents himself as a business broker must be registered as a business broker with the Secretary of State, unless exempt under law.
Statute:Illinois Business Brokers Act of 1995 (815 ILCS 307/10-1)
Type of Regulation:Registration
Number Regulated:440
Education/Experience:No requirement
Exam:No exam required
Exam Type:
Exam Fee:
Passing Criteria:
Continuing Education:No requirement
Citizenship:No requirement
Note:Licensure requirements, licensure fees, examination fees and exam administration are subject to change.
Application Fee:$200.00 plus $50.00 for each person (in excess of 2) who is engaged in business brokering for the firm.
License Fee:
Renewal Fee:
Reinstatement Fee:Calendar year
License Period:No