(765 ILCS 101/25-5)
Sec. 25-5. Registrations under preceding Act. All registrations of developers, timeshare plans, acquisition agents, exchange companies, managing agents, resale agents, and sales agents under the Illinois Real Estate Time-share Act in effect on the effective date of this Act shall remain in full force and effect after the effective date of this Act and be considered registered under this Act.
The provisions of this Act, insofar as they are the same or substantially the same as those of any prior law, shall be construed as a continuation of such prior law and not as a new enactment. Any existing injunction or temporary restraining order validly obtained under the Illinois Real Estate Time-share Act which prohibits unregistered practice of timeshare developers, timeshare plans, and their agents shall not be invalidated by the enactment of this Act and shall continue to have full force and effect on and after the effective date of this Act.
Any existing disciplinary action or investigation pursuant to a violation under the Illinois Real Estate Time-share Act shall not be invalidated by the enactment of this Act and shall continue to have full force and effect on and after the effective date of this Act.
(Source: P.A. 91-585, eff. 1-1-00.)
Sections: 25-5
Last modified: February 18, 2015