Illinois Administrative Code
Title 14 - COMMERCE
Part 145 - REGULATIONS UNDER THE ILLINOIS LOAN BROKERS ACT OF 1995
Subpart E - EXEMPTIONS
Section 145.806 - Exemption for Business Broker Agreements or Contracts from the Loan Brokers Act of 1995
Universal Citation: 14 IL Admin Code ยง 145.806
Current through Register Vol. 48, No. 12, March 22, 2024
A business broker agreement or contract, made pursuant to and in compliance with the Illinois Business Brokers Act of 1995 [815 ILCS 307 ] between a client and a registered business broker, which contains a promise by, or obligation of, a business broker to procure or assist in procuring a loan for business financing or the purchase of a business for the client is exempt from this Act.
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