Illinois Administrative Code
Title 14 - COMMERCE
Part 140 - REGULATIONS UNDER THE ILLINOIS BUSINESS BROKERS ACT OF 1995
Subpart E - EXEMPTIONS
Section 140.803 - Exemptions from Waiting Period and Disclosure Requirements Pursuant to Section 10-30 of the Act
Universal Citation: 14 IL Admin Code ยง 140.803
Current through Register Vol. 48, No. 12, March 22, 2024
A business broker shall be entitled to rely upon a statement executed by the client that:
a) the client is in one of the categories enumerated in Section 10-30.5(a)(1) through (5) of the Act. Illinois Form BB02 may be utilized by the business broker for this purpose; or
b) the client had an attorney review the business broker's contract with the client. Illinois Form BB03 may be utilized by the business broker for this purpose.
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