Illinois § 10-5.10
Full text of Illinois Illinois Compiled Statutes § 10-5.10, with citation guidance and answers to common questions.
§ 10-5.10.
Business Broker. "Business Broker" means any person who is required to register under Section 10-10 of this Act and, in return for a fee, commission, or other compensation: (1) promises to procure a business for any person or assists any person in procuring a business from any third person; (2) negotiates, offers, attempts or agrees to negotiate the sale, exchange, or purchase of a business; (3) buys, sells, offers to buy or sell or otherwise deals in options on businesses; (4) advertises or represents himself as a business broker; (5) assists or directs in the procuring of prospects intended to result in the purchase, sale, or exchange of a business; (6) offers, promotes, lists or agrees to offer, promote, or list a business for sale, lease, or exchange. (Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)
Frequently Asked Questions About Illinois § 10-5.10
What does Illinois Compiled Statutes § 10-5.10 cover?
Section 10-5.10 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 10-5.10?
A common citation format is "Illinois Compiled Statutes § 10-5.10" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 10-5.10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.