- a) Upon termination of sponsorship by a sponsoring broker, the sponsoring broker shall immediately notify the terminated licensee, and within 24 hours after the termination shall notify the Division, in a format provided by the Division.
- b) When a licensee initiates termination with the sponsoring broker, the licensee shall, within 24 hours of termination, notify the Division, in a format provided by the Division, and shall immediately notify the sponsoring broker.
- c) Once the sponsorship has been terminated, the license is automatically changed to inactive status and the licensee is prohibited from engaging in licensed activities until the licensee has established a valid sponsorship with a new sponsoring broker.
(Source: Amended at 45 Ill. Reg. 2851, effective February 23, 2021)