Illinois Compiled Statutes 625 ILCS 5/18c-5102 – Licensing of Brokers
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(1) Procedures for Issuing Brokers’ Licenses. The Provisions of Article II of Sub-chapter 4 of this Chapter which govern the form and manner of filing of applications for authority, notice to be given to the public, and hearing, shall likewise govern the issuance of a brokers’ license.
(2) Standards for Review of Brokers’ License Applications. The Commission shall issue a license authorizing a person to act as a statewide broker of general commodities where:
(a) The person has properly filed an application on forms prescribed by the Commission;
(b) The person has remitted the filing fee prescribed by the Commission;
(c) The person has filed proof of bond or insurance as required by Commission regulations; and
(d) The Commission has determined that the person is fit, willing, and able to;
(i) Act as a statewide broker of general commodities as authorized by the license; and
(ii) Comply with provisions of this Chapter, Commission regulations and orders. Otherwise, the application shall be denied.
(3) Suspension or Revocation of Brokers’ Licenses. If at any time the Commission determines after notice and hearing that the holder of a broker’s license is not fit, willing, or able to continue to act as a broker, the Commission may suspend or revoke the license.
(2) Standards for Review of Brokers’ License Applications. The Commission shall issue a license authorizing a person to act as a statewide broker of general commodities where:
Terms Used In Illinois Compiled Statutes 625 ILCS 5/18c-5102
- Broker: means any person other than a motor carrier of property, that arranges, offers to arrange, or holds itself out, by solicitation, advertisement, or otherwise, as arranging or offering to arrange for-hire transportation of property or other service in connection therewith by a motor carrier of property which holds or is required to hold a license issued by the Commission. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
- Commission: means the Illinois Commerce Commission. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
- Commission regulations and orders: means rules and regulations adopted and orders or decisions issued by the Commission pursuant to this Chapter; any certificate, permit, broker's license or other license or registration issued pursuant to such rules, regulations, orders and decisions; and all terms, conditions, or limitations thereof. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
- License: means any certificate, permit, broker's license, or other license issued under this Chapter. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
- Notice: means with regard to all proceedings except enforcement proceedings instituted on the motion of the Commission, and except for interstate motor carrier registrations, public notice by publication in the official state newspaper, unless otherwise provided in this Chapter. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
- Person: means any natural person or legal entity, whether such entity is a proprietorship, partnership, corporation, association, or other entity, and, where a provision concerns the acts or omissions of a person, includes the partners, officers, employees, and agents of the person, as well as any trustees, assignees, receivers, or personal representatives of the person. See Illinois Compiled Statutes 625 ILCS 5/18c-1104
(a) The person has properly filed an application on forms prescribed by the Commission;
(b) The person has remitted the filing fee prescribed by the Commission;
(c) The person has filed proof of bond or insurance as required by Commission regulations; and
(d) The Commission has determined that the person is fit, willing, and able to;
(i) Act as a statewide broker of general commodities as authorized by the license; and
(ii) Comply with provisions of this Chapter, Commission regulations and orders. Otherwise, the application shall be denied.
(3) Suspension or Revocation of Brokers’ Licenses. If at any time the Commission determines after notice and hearing that the holder of a broker’s license is not fit, willing, or able to continue to act as a broker, the Commission may suspend or revoke the license.