2023 Illinois Compiled Statutes › Chapter 225 - PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS › 225 ILCS 454/ - Real Estate License Act of 2000. › Article 35 - Transition Rules

(225 ILCS 454/Art. 35 heading)
ARTICLE 35.  
		TRANSITION RULES
(225 ILCS 454/35-5)
(Section scheduled to be repealed on January 1, 2030)
Sec. 35-5. Savings provisions.
(a) This Act is intended to replace the Real Estate License Act of 1983 in
all respects.
(b) The rights, powers, and duties exercised by
the
Office of Banks and
Real Estate under the Real Estate License Act of 1983 shall continue to be
vested in, be the
obligation of, and shall be exercised by the Division of Real Estate of the Department of Financial and Professional Regulation 
under the provisions of
this Act.
(c) This Act does not affect any act done, ratified, or cancelled, or any
right occurring or
established, or any action or proceeding had or commenced in an administrative,
civil, or criminal
cause before December 31, 1999, by the Office of Banks and Real Estate under
the
Real Estate License
Act of 1983, and those actions or proceedings may be prosecuted and continued
by the Division of Real Estate of the Department of Financial and Professional Regulation under this Act.
(d) This Act does not affect any license, certificate, permit, or other form
of licensure or
authorization issued by the Office of Banks and Real Estate under the Real
Estate License Act of
1983 or by the Division of Professional Regulation of the  Department of Financial and Professional Regulation under this Act, and all such licenses, certificates, permits, or other form of licensure
or authorization shall
continue to be valid under the terms and conditions of this Act.
(e) The rules adopted by the Office of Banks and Real Estate relating to the
Real Estate License
Act of 1983, unless inconsistent with the provisions of this Act, are not
affected by this Act, and on
December 31, 1999 those rules become the rules under this Act.  The Office of
Banks
and Real Estate shall,
as soon as practicable, adopt new or amended rules consistent with the
provisions of this Act.
(f) This Act does not affect any discipline, suspension, or termination
taken under the Real
Estate License Act of 1983 and that discipline, suspension, or termination
shall be continued under
this Act.
(g) This Act does not affect any appointments, term limitations, years
served, or other matters
relating to individuals serving on any board or council under the Real Estate
License Act of 1983,
and these appointments, term limitations, years served, and other matters shall
be continued under
this Act.
(Source: P.A. 99-227, eff. 8-3-15.)
(225 ILCS 454/35-10)
(Section scheduled to be repealed on January 1, 2030)
Sec. 35-10. 
		Money in Funds. 
		 Transfer of moneys and
appropriations
moneys held in or appropriations to the Real Estate License Administration
Fund, Real Estate
Recovery Fund, or Real Estate Research and Education Fund for the purpose of
administering and
enforcing the Real Estate License Act of 1983 shall be transferred to and held
in those same funds
for the purpose of administering and enforcing the provisions of this Act.
(Source: P.A. 91-245, eff. 12-31-99.)