Managing Broker's License Required to Start a PM Company?

[Kathryn Daniel]

Does anyone know if it is required to have a managing broker's license (in the state of IL) to start a property management company? I figured it would since each real estate company needs its own managing broker, right? 

I currently have my broker's license as I had to hold either that or a leasing license while working for my previous employer (property management) and since I've switched employers my license has been in a holding company. My husband and I are looking to start a property management company, so I signed up for the managing broker class. Any words of wisdom on this or resources out there that can help me understand what's required and what I need to do as a managing broker and property management company owner?