The CAM license is NOT a real estate brokerage license and is administered by Illinois Department of Financial and Professional Regulation (IDFPR).
The lead article in the July 2012 D.R. Legal News deals with the Community Association Manager Licensing & Disciplinary Act (“Act”). That Act was effective July 1, 2010. However, the licensing requirements under that Act are not effective until October 1, 2012. More about the licensing aspects of the Act later but first we need to discuss the application of the Act and whether this Act will require you to obtain an additional license. The legislative intent in the Act indicates that the purpose of the Act is to “provide for the regulation of managers of community associations.” The key questions are what is a “community association” under the Act and who is a manager of a community association under the Act. This article will cover definitions, exemptions, requirements and enforcement and fees under the Act. Read more >
Updated January 2013
Copyright Illinois Association of REALTORS®. This content cannot be reprinted in parts or in its entirety without expressed written consent to the Illinois Association of REALTORS®.