(815 ILCS 307/10-5.10)
Sec. 10-5.10. Business Broker. "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.
(Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)
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Last modified: February 18, 2015