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| [ Introduced ] | [ Engrossed ] | [ House Amendment 002 ] |
90_HB2688sam001
LRB9009844LDdvam08
1 AMENDMENT TO HOUSE BILL 2688
2 AMENDMENT NO. . Amend House Bill 2688 on page 2,
3 line 26, by replacing "Collects, offers, attempts, or agrees"
4 with "Supervises the collection, offer, attempt, or
5 agreement"; and
6 on page 3, by replacing lines 9 and 10 with the following:
7 "another. Brokerage agreements may constitute either a
8 bilateral or a unilateral agreement between the broker and
9 the broker's client depending upon the content of the
10 brokerage agreement. All exclusive brokerage agreements shall
11 be in writing."; and
12 on page 7, in line 29, by deleting "of the sponsoring broker
13 of"; and
14 on page 7, in line 30, by deleting "the personal assistant";
15 and
16 on page 9, by replacing lines 11 through 13 with the
17 following:
18 "residential real property, or attempting, offering, or
19 negotiating to lease or rent residential real property, or
20 supervising the collection, offer, attempt, or agreement to
21 collect rent for the use of"; and
-2- LRB9009844LDdvam08
1 on page 10, in line 24, by inserting before the word
2 "environmental" the following:
3 "the provisions of this Act applicable to leasing agents;
4 fair housing issues relating to residential leasing;
5 advertising and marketing issues; leases, applications, and
6 credit reports; owner-tenant relationships and owner-tenant
7 laws; the handling of funds; and"; and
8 on page 12, by replacing lines 20 through 32 with the
9 following:
10 "(1) Any person, partnership, or corporation that as
11 owner or lessor performs any of the acts described in the
12 definition of "broker" under Section 1-10 of this Act with
13 reference to property owned or leased by it, or to the
14 regular employees thereof with respect to the property so
15 owned or leased, where such acts are performed in the regular
16 course of or as an incident to the management, sale, or other
17 disposition of such property and the investment therein,
18 provided that such regular employees do not perform any of
19 the acts described in the definition of "broker" under
20 Section 1-10 of this Act in connection with a vocation of
21 selling or leasing any real estate or the improvements
22 thereon not so owned or leased."; and
23 on page 18, in line 15, by deleting "a period"; and
24 on page 18, by replacing lines 16 through 18 with the
25 following:
26 "3 years after the date of satisfactory completion of the
27 education."; and
28 on page 26, by inserting the following immediately after line
29 26:
30 "(a) The requirements of this Section apply to all
31 licensees who have had a license for less than 15 years as of
32 January 1, 1992."; and
-3- LRB9009844LDdvam08
1 on page 26, line 27 by replacing "(a) Each" with "(b) Except
2 as otherwise provided in this Section, each"; and
3 on page 27, line 13, by replacing "(b)" with "(c)"; and
4 on page 27, line 23, by replacing "(c)" with "(d)"; and
5 on page 28, line 7, by replacing "(d)" with "(e)"; and
6 on page 28, line 22, by replacing "(e)" with "(f)"; and
7 on page 28, line 29, by replacing "(f)" with "(g)"; and
8 on page 28, line 31, by replacing "(g)" with "(h)"; and
9 on page 28, line 34, by replacing "(h)" with "(i)"; and
10 on page 31, by inserting after line 10 the following:
11 "(c) If a licensee refers a client to a third party in
12 which the licensee has greater than a 1% ownership interest
13 or from which the licensee receives or may receive dividends
14 or other profit sharing distributions, other than a publicly
15 held or traded company, for the purpose of the client
16 obtaining services related to the transaction, then the
17 licensee shall disclose that fact to the client at the time
18 of making the referral."; and
19 on page 31, in line 11, by replacing "(c)" with "(d)"; and
20 on page 31, in line 17, by replacing "(d)" with "(e)"; and
21 on page 37, in line 1, by inserting "an" immediately after
22 "by"; and
23 on page 37, in line 1, by replacing "agreements" with
24 "agreement between a sponsoring broker and a consumer,
25 providing that there is a relationship other than designated
26 agency"; and
27 on page 38, by replacing lines 6 through 8 with the
28 following:
-4- LRB9009844LDdvam08
1 "include the following when located on or related to real
2 estate that is not the subject of the transaction: (i)
3 physical conditions that do not have a substantial adverse
4 effect on the value of the real estate, (ii) fact situations,
5 or (iii) occurrences."; and
6 on page 39, in line 12, by replacing "that an" with ":"; and
7 on page 39, by replacing lines 13 through 17 with the
8 following:
9 "(i) that an occupant of the property was afflicted with
10 Human Immunodeficiency Virus (HIV) or any other medical
11 condition; (ii) that the property was the site of an act or
12 occurrence that had no effect on the physical condition of
13 the property or its environment or the structures located
14 thereon; (iii) fact situations on property that is not the
15 subject of the transaction; or (iv) physical conditions
16 located on property that is not the subject of the
17 transaction that do not have a substantial adverse effect on
18 the value of the real estate that is the subject of the
19 transaction."; and
20 on page 43, in line 22, by inserting "prior" after "their";
21 and
22 on page 46, in line 10, by replacing "one year" with "2
23 years"; and
24 on page 46, in line 13, by replacing "4" with "5"; and
25 on page 49, line 33, by replacing "or (ii)" with ", (ii)";
26 and
27 on page 50, in line 3, by inserting after "agents" the
28 following: ", or (iii) pursuant to an order of a court of
29 competent jurisdiction"; and
30 on page 74, line 13, after "Director" by inserting "and a
-5- LRB9009844LDdvam08
1 Deputy Director"; and
2 on page 75, by inserting the following immediately after line
3 1:
4 "The Commissioner shall appoint, for a term of 4 years, a
5 Deputy Director of Real Estate who shall hold a currently
6 valid broker's license, which shall be surrendered to OBRE
7 during the appointment. Under direction of the Director of
8 Real Estate, the Deputy Director of Real Estate shall be
9 responsible for the administration of the licensing,
10 disciplinary, and education provisions of this Act. The
11 Deputy Director shall also assist the Director of Real Estate
12 in the performance of his or her duties."; and
13 on page 75, line 2, after "Director" by inserting "and Deputy
14 Director"; and
15 on page 79, by deleting lines 3 through 5; and
16 on page 79, in line 6 by replacing "(c)" with "(b)"; and
17 on page 79, in line 11 by replacing "(d)" with "(c)"; and
18 on page 79, in line 14 by replacing "(e)" with "(d)"; and
19 on page 83, by replacing lines 23 and 24 with "rule. All";
20 and
21 on page 104, by deleting lines 12 through 31; and
22 by deleting pages 105 through 118; and
23 on page 119, by deleting lines 1 through 20; and
24 on page 126, by deleting lines 3 through 7; and
25 on page 126, by deleting lines 23 through 29; and
26 on page 127, by deleting line 1.