Ill. Admin. Code tit. 68 § 1440.100

Current through Register Vol. 49, No. 2, January 10, 2025

Section 1440.100 - Necessity of License; Exemptions

Any person, corporation, limited liability company, partnership, or other entity shall not be required to be licensed under the Act under the following circumstances:

a) A not-for-profit organization conducting an auction solely for charitable purposes in which the individual receives no compensation;

b) A person or other entity who is the rightful owner of property, real or personal, sold or leased at auction, except for persons or entities who as a normal course of business sell or lease property at auction;

c) A person or entity, while conducting an auction for the sale or lease of real property, who holds a valid broker or salesperson license under the Real Estate License Act of 2000 [225 ILCS 454 ];

d) A business registered as a livestock market agency under the federal Packers and Stockyards Act ( 7 USC 181 et seq.) or under the Livestock Auction Market Law that employs licensed livestock auctioneers;

e) A vehicle dealer licensed by the Secretary of State of Illinois; any employee of that licensee who is a resident of the State of Illinois, while the employee is acting in the regular scope of his or her employment for the licensee; or sales by or through the licensee;

f) A person under the age of 18 who, while under the direct supervision of a licensed auctioneer, sells items under $250 in value.

Ill. Admin. Code tit. 68, § 1440.100

Amended at 35 Ill. Reg. 7358, effective April 21, 2011