Pawnbroker Legislation - Illinois

RESALE VENDORS-REPORTING Amends the Pawnbroker Regulation Act. Requires a resale vendor to provide transactional information to the superintendent or chief of police of the city or town in which he or she is doing business or to the sheriff of the county in which he or she is doing business, on a daily basis by the end of the next business day or on such less frequent basis as required by the law enforcement official. Contains provisions concerning the means a resale vendor shall provide the law enforcement official with the daily report. Requires resale vendors to hold all items purchased from the public for a period of 21 days after transmitting transactional information via facsimile or U.S. Postal Service or 10 days after transmitting transactional information electronically prior to selling, distributing, or altering goods in any way. Provides that in counties with more than 3,000,000 inhabitants, a resale vendor must provide the daily report to the sheriff only if the pawnshop [...]

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PAWNBROKER-SECONDARY SALES Amends the Pawnbroker Regulation Act. Provides that every pawnbroker with a secondary outlet for selling goods, articles, and other things purchased or received shall also record in his or her standard record book, and report to local law enforcement or the Illinois State Police, an accurate account and description, in the English language, of all goods, articles, and other things purchased or received, including the time of such purchase or receipt and the name and address of the person or business that sold or delivered such goods, articles, or other things to the pawnbroker. Provides that no entry in a standard record book shall be erased, mutilated, or changed. Provides that for the purposes of the provision, "secondary outlet" includes, but is not limited to, any e-commerce Internet website or Internet auction medium. House Amendment No. 1 Provides that there is no rulemaking authority under the amendatory Act, but that the Governor [...]

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REGULATION-BANKS-REAL ESTATE Amends the Office of Banks and Real Estate Act to change the powers of the Secretary of Financial and Professional Regulation to issue certain authorizations. Amends the Illinois Bank Examiners' Education Foundation Act to provide that the Foundation shall be governed by a Board of Trustees that consists of the members of the Board of Banks and Trust Companies. Amends the Illinois Banking Act. Deletes the definition of "State Banking Board". Changes provisions concerning the issuance of bank charters. Makes changes concerning notification of meetings of the board of directors. Provides that the Secretary (i) may prescribe the requirements to file applications electronically and (ii) may impose civil penalties in an amount not to exceed that amount a federal regulatory agency is authorized to charge under federal law (rather than $10,000) for violations of the Act. Creates a new Board of Banks and Trust Companies and specifies the appointment and terms [...]

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REGULATION-BANKS-REAL ESTATE Amends the Office of Banks and Real Estate Act to change the powers of the Secretary of Financial and Professional Regulation to issue certain authorizations. Amends the Illinois Bank Examiners' Education Foundation Act to provide that the Foundation shall be governed by a Board of Trustees that consists of the members of the Board of Banks and Trust Companies. Amends the Illinois Banking Act. Deletes the definition of "State Banking Board". Changes provisions concerning the issuance of bank charters. Makes changes concerning notification of meetings of the board of directors. Provides that the Secretary (i) may prescribe the requirements to file applications electronically and (ii) may impose civil penalties in an amount not to exceed that amount a federal regulatory agency is authorized to charge under federal law (rather than $10,000) for violations of the Act. Creates a new Board of Banks and Trust Companies and specifies the appointment and terms [...]

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PAWNBROKER-SECONDARY SALES Amends the Pawnbroker Regulation Act. Provides that every pawnbroker with a secondary outlet for selling goods, articles, and other things purchased or received shall also record in his or her standard record book, and report to local law enforcement or the Illinois State Police, an accurate account and description, in the English language, of all goods, articles, and other things purchased or received, including the time of such purchase or receipt and the name and address of the person or business that sold or delivered such goods, articles, or other things to the pawnbroker. Provides that no entry in a standard record book shall be erased, mutilated, or changed. Provides that for the purposes of the provision, "secondary outlet" includes, but is not limited to, any e-commerce Internet website or Internet auction medium. House Amendment No. 1 Provides that there is no rulemaking authority under the amendatory Act, but that the Governor [...]

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RESALE VENDORS-REPORTING Amends the Pawnbroker Regulation Act. Requires a resale vendor to provide transactional information to the superintendent or chief of police of the city or town in which he or she is doing business or to the sheriff of the county in which he or she is doing business, on a daily basis by the end of the next business day or on such less frequent basis as required by the law enforcement official. Contains provisions concerning the means a resale vendor shall provide the law enforcement official with the daily report. Requires resale vendors to hold all items purchased from the public for a period of 21 days after transmitting transactional information via facsimile or U.S. Postal Service or 10 days after transmitting transactional information electronically prior to selling, distributing, or altering goods in any way. Provides that in counties with more than 3,000,000 inhabitants, a resale vendor must provide the daily report to the sheriff only if the pawnshop [...]

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