§ 10-5.10 — Business Broker

Illinois § 10-5.10

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 815: BUSINESS TRANSACTIONS
• Act 815 ILCS 307/: Illinois Business Brokers Act of 1995.
• Art.: Article 10 -

Text

"Business Broker" means any person who is required to register under Section 10-10 of this Act and, in return for a fee, commission, or other compensation: (1) promises to procure a business for any person or assists any person in procuring a business from any third person; (2) negotiates, offers, attempts or agrees to negotiate the sale, exchange, or purchase of a business; (3) buys, sells, offers to buy or sell or otherwise deals in options on businesses; (4) advertises or represents himself as a business broker; (5) assists or directs in the procuring of prospects intended to result in the purchase, sale, or exchange of a business; (6) offers, promotes, lists or agrees to offer, promote, or list a business for sale, lease, or exchange.

Legislative History

(Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)