Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 307/10-1) Sec. 10-1. Short title. This Article may be cited as the Illinois Business Brokers Act of 1995, and references in this Article to "this Act" mean this Article. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 307/10-10) Sec. 10-10. Registration of business brokers. Every person engaging in the business of business brokering shall be registered with the Office of the Secretary of State pursuant to the provisions of this Act. Persons employed, contracted by, or working on beha…

(815 ILCS 307/10-100) Sec. 10-100. Immunity for official acts. In no case shall the Secretary of State, or any of his or her employees or agents, in the administration of this Act, incur any official or personal liability while acting in accordance with their official duties or a…

(815 ILCS 307/10-105) Sec. 10-105. Scope of the Act. This Act shall apply only when the person engaging or seeking to engage the business broker is domiciled in this State or when the company or business sought to be sold has its principal place of business in this State. Notwith…

(815 ILCS 307/10-110) Sec. 10-110. Previous and ongoing agreements or contracts and transactions not affected. All business broker agreements or contracts and transactions between a business broker and its clients or proposed clients which do not comply with the Act, if entered i…

(815 ILCS 307/10-115) Sec. 10-115. Business broker lien. (a) Any business broker shall have a lien upon the tangible assets of a business located in this State that is the subject of a business broker's written contract in the amount due to the broker under the written contract. …

(815 ILCS 307/10-125) Sec. 10-125. Service of process. (a) Any person acting as a business broker, unless exempt from registration under this Act, shall constitute an appointment of the Secretary of State, or his or her successors in Office, by the person to be the true and lawfu…

(815 ILCS 307/10-20) Sec. 10-20. Renewal of registration. (a) A business broker may not continue engaging in the business of business brokering unless the broker's registration is renewed annually. A business broker shall renew the registration by filing with the Secretary of Sta…

(815 ILCS 307/10-25) Sec. 10-25. Fees and funds. All fees and funds accruing for the administration of this Act shall be accounted for by the Secretary of State and shall be deposited with the State Treasurer who shall deposit them in the Securities Audit and Enforcement Fund. (a…

(815 ILCS 307/10-30) Sec. 10-30. Disclosure document to be provided by business broker. (a) A business broker must provide a written disclosure document that meets the requirements set forth in subsection (b) of this Section to a client at the time or before the client signs a co…

(815 ILCS 307/10-30.5) Sec. 10-30.5. Exemptions from disclosure requirements. Section 10-30 shall not apply if: (a) the client to be represented by the business broker is: (1) a natural person who has, or is reasonably believed by the business broker relying upon this Section to …

(815 ILCS 307/10-35) Sec. 10-35. Contracts required to be in writing; retention of copy by client. To be enforceable, every contract for the services of a business broker shall be in writing and signed by all contracting parties. The client shall have the right to retain a copy o…

(815 ILCS 307/10-40) Sec. 10-40. Denial, suspension or revocation of registration; orders and hearing. (a) The Secretary of State may deny, suspend or revoke the registration of a business broker if the business broker: (1) Is insolvent. (2) Has violated any provision of this Act…

(815 ILCS 307/10-45) Sec. 10-45. Powers of Secretary of State; privilege against self-incrimination; admissibility into evidence. (a) The Secretary of State may do the following: (1) Adopt rules and regulations to implement this Act. (2) Conduct investigations and examinations: (…

(815 ILCS 307/10-5) Sec. 10-5. Definitions. As used in this Act, unless the context otherwise requires, the terms defined in the Sections of this Act following this Section and preceding Section 10-6 have the meanings therein ascribed. (Source: P.A. 89-209, eff. 1-1-96.)

(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 perso…

(815 ILCS 307/10-5.15) Sec. 10-5.15. Business. "Business" means an existing business, goodwill of an existing business, or any interest therein, or any one or combination thereof, where the transaction is not a securities transaction involving securities subject to the Illinois S…

(815 ILCS 307/10-5.16) Sec. 10-5.16. Client. "Client" means any person who has signed an agreement with a business broker that provides for the services described in Section 10-5.10 for compensation. (Source: P.A. 90-70, eff. 7-8-97.)

(815 ILCS 307/10-5.17) Sec. 10-5.17. Insolvency. "Insolvency" means the rendering of a business broker financially unable to perform any contractual obligations of its business brokering duties. (Source: P.A. 90-70, eff. 7-8-97.)

(815 ILCS 307/10-5.18) Sec. 10-5.18. Material. "Material", when used to qualify a requirement for the furnishing of information as to any subject, limits the information required to those matters as to which there is a substantial likelihood that a reasonable person would conside…

(815 ILCS 307/10-5.20) Sec. 10-5.20. Person. "Person" means an individual, a corporation, a partnership, an association, a joint stock company, a limited liability company, a limited liability partnership, a trust, any unincorporated organization, or any other entity. (Source: P.…

(815 ILCS 307/10-5.25) Sec. 10-5.25. Purchaser. "Purchaser" means a person who enters into a contract or agreement for the acquisition of a business or a person to whom an offer to sell a business is directed. (Source: P.A. 90-70, eff. 7-8-97.)

(815 ILCS 307/10-5.30) Sec. 10-5.30. Seller. "Seller" means a person who sells or offers to sell a business or any agent who directly or indirectly acts on behalf of such person, except that a person acting as a business broker is neither a seller nor purchaser. (Source: P.A. 90-…

(815 ILCS 307/10-50) Sec. 10-50. Certified copies of documents or records admissible in actions or proceedings under this Act. (a) Copies of any statement or document filed with the Secretary of State, and copies of any records of the Secretary of State, certified to by the Secre…

(815 ILCS 307/10-55) Sec. 10-55. Violations; administrative fines; enforcement. (a) If the Secretary of State determines, after notice and opportunity for a hearing, that a person has violated this Act, the Secretary of State may in addition to all other remedies, impose an admin…

(815 ILCS 307/10-60) Sec. 10-60. Violations; liability of business broker to damaged parties; rights of prospective client. A person who commits a material violation of this Act, in connection with a contract for the services of a business broker, is liable to any client damaged …

(815 ILCS 307/10-65) Sec. 10-65. Willful violation classified as Class 4 felony. Any person who willfully violates this Act commits a Class 4 felony. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 307/10-75) Sec. 10-75. Account numbers; retention and maintenance of records. (a) Each business broker agreement shall be given an account number and all instruments executed in connection with that agreement must bear this number, except as provided in Section 10-35 of…

(815 ILCS 307/10-80) Sec. 10-80. Persons exempt from registration and other duties under law; burden of proof thereof. (a) The following persons are exempt from the requirements of this Act: (1) Any attorney who is licensed to practice in this State, while engaged in the practice…

(815 ILCS 307/10-85) Sec. 10-85. Fraudulent and prohibited acts. (a) A business broker shall not, in connection with a contract for the services of a business broker, either directly or indirectly, do any of the following: (1) Employ any device, scheme or article to defraud. (2) …

(815 ILCS 307/10-90) Sec. 10-90. Deposit of moneys. All moneys received under this Act shall be deposited into the Securities Audit and Enforcement Fund. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 307/10-95) Sec. 10-95. Miscellaneous provisions. (a) The rights and remedies under this Act are in addition to any other rights or remedies that may exist at law or equity. (b) Any condition, stipulation, or provision binding any client of a business broker to waive com…

(815 ILCS 307/99-1) Sec. 99-1. Effective date. This Act takes effect January 1, 1996. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 308/1) Sec. 1. Short title. This Act may be cited as the Automotive Collision Repair Act. (Source: P.A. 93-565, eff. 1-1-04.)

(815 ILCS 308/10) Sec. 10. Definitions. As used in this Act: "Automotive collision and body repair" means all repairs that are commonly performed by a body repair technician to restore a motor vehicle damaged in a crash or collision to a condition similar to the motor vehicle con…

(815 ILCS 308/15) Sec. 15. Disclosure to consumers; estimates. (a) No work for compensation that exceeds $100 shall be commenced without specific authorization from the consumer after the disclosure set forth in this Section. (b) Every motor vehicle collision repair facility shal…

(815 ILCS 308/20) Sec. 20. Notice of consumer's rights; estimate. When an estimate is required to be presented to a consumer, a collision repair facility shall disclose to the prospective consumer an estimated price quotation with the following statement included or attached with…

(815 ILCS 308/25) Sec. 25. Estimated price insufficient. If it is determined that the estimated price is insufficient because of unforeseen circumstances, the consumer's consent must be obtained before the work estimated is done or parts estimated are supplied. If the consumer's …

(815 ILCS 308/30) Sec. 30. Consumers authorizations of repairs or other actions. After receiving the estimate, the owner or the owner's agent may (i) authorize the repairs at the estimate of cost and time in writing, or (ii) request the return of the motor vehicle in a disassembl…

(815 ILCS 308/35) Sec. 35. Inability to deliver motor vehicle to facility during business hours. When the consumer is unable to deliver the motor vehicle to the collision repair facility during business hours, and the consumer has requested the collision repair facility to take p…

(815 ILCS 308/40) Sec. 40. Disclosures to consumers; invoices. (a) On completion of repairs, the collision repair facility shall provide the consumer with an accurate record in the form of a final estimate or invoice. An estimate that is stamped "invoice" may be deemed the same a…

(815 ILCS 308/45) Sec. 45. Consumer disclosures; guarantees; warranties. (a) If a collision repair facility provides a warranty on repair parts and labor, the facility shall put the warranty in writing and give a legible copy to the consumer. The consumer's copy of the warranty m…

(815 ILCS 308/5) Sec. 5. Purpose. With the increased complexity and technology involved in the repair of collision-damaged motor vehicles, there is a need for improved communication and accounting between collision repair businesses and motor vehicle owners. This Act enables purc…

(815 ILCS 308/50) Sec. 50. Consumer disclosures; required signs. Every motor vehicle repair facility shall post in a prominent place on the business premises one or more signs, readily visible to customers, in the following form: YOUR CUSTOMER RIGHTS. UNLESS THE FACILITY PROVIDES…

(815 ILCS 308/55) Sec. 55. Recordkeeping. Every collision repair facility shall maintain copies of estimates for contracted work and all invoices. The copies may be maintained in an electronic format, shall be kept for 2 years, and shall be available for inspection by the Attorne…

(815 ILCS 308/60) Sec. 60. Removal of motor vehicle from facility. Upon reasonable notice and during the collision repair facility's business hours, a consumer may remove a motor vehicle from a collision repair facility upon paying for the following: (1) Labor actually performed.…

(815 ILCS 308/65) Sec. 65. Lien barred. A collision repair facility that fails to comply with Section 15, 20, 25, 30, 35, 40, 45, 50, 55, or 60 is barred from asserting a possessory or chattel lien for the amount of the unauthorized parts or labor upon the motor vehicle or compon…

(815 ILCS 308/70) Sec. 70. Unlawful acts or practices. Each of the following acts or practices is unlawful when committed by a motor vehicle collision repair facility: (1) Advertising in a false, deceptive, or misleading manner. (2) Charging a consumer for parts not delivered or …

(815 ILCS 308/75) Sec. 75. Violations. Whenever an automotive collision repair facility is knowingly engaged in or has knowingly engaged in a persistent practice or pattern of conduct at a single location that violates this Act, that, knowingly, persistent practice or pattern of …

(815 ILCS 308/80) Sec. 80. Exemptions. This Act does not apply to facilities covered by the Automotive Repair Act. (Source: P.A. 93-565, eff. 1-1-04.)