Ill. Admin. Code tit. 68, § 1450.120 - Assumed Name
a) If a
sponsoring broker, acting as a sole proprietor, operates under any name other
than that appearing on the sponsoring broker's license, the sponsoring broker
shall submit to the Division a copy of the sponsoring broker's registration
under the Assumed Business Name Act [805 ILCS 405]. The assumed business name
registration shall be obtained in each county in which the assumed business
name is used.
b) If a sponsoring
broker, acting as a partnership, corporation, limited liability corporation,
limited partnership, or limited liability partnership, operates under any name
other than that appearing on the sponsoring broker's license, the sponsoring
broker shall submit to the Division a copy of the filing or certificate
authorizing it to do business under an assumed name under the Assumed Business
Name Act [805 ILCS 405]. The assumed business name registration shall be
obtained in each county in which the assumed business name is used.
c) Any partnership, corporation, limited
liability company, limited partnership or limited liability partnership
operating under any name other than that appearing on its application for a
license shall submit to the Division a copy of the filing or certificate
authorizing it to do business under an assumed name from the Illinois Secretary
of State's Office.
d) Sponsored
licensees, including a team or teams, may not operate under an assumed business
name other than an assumed business name of their sponsoring broker.
e) The sponsoring broker shall submit the
information to the Division within 30 days after registration of the assumed
name in a format provided by the Division.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.