Exemption for Business Broker Agreements or Contracts from the Loan Brokers Act of 1995

Section 145 Section 145.806  Exemption for Business Broker Agreements or Contracts from the Loan Brokers Act of 1995 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.