Illinois License Law
The Illinois Real Estate Recovery Fund is funded by:
AGeneral state tax revenues
BA portion of each licensee's license fee and renewal fees✓ Correct
CPenalties collected from disciplined licensees only
DVoluntary contributions from the Illinois Association of REALTORS
Explanation
The Illinois Real Estate Recovery Fund is funded through a portion of the fees paid by real estate licensees when they obtain or renew their licenses. This provides a consumer protection fund to compensate persons harmed by the fraudulent or dishonest conduct of licensed real estate brokers when civil judgments cannot be collected.
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