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| 1 | AMENDMENT TO HOUSE BILL 4854
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| 2 | AMENDMENT NO. ______. Amend House Bill 4854 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Pawnbroker Regulation Act is amended by | ||||||
| 5 | adding Section 15 as follows: | ||||||
| 6 | (205 ILCS 510/15 new) | ||||||
| 7 | Sec. 15. Temporary buying locations; unregistered buyers. | ||||||
| 8 | (a) For purposes of this Section: | ||||||
| 9 | "Temporary buying location" means a location used by an | ||||||
| 10 | unregistered buyer, including, but not limited to, hotels and | ||||||
| 11 | motels. | ||||||
| 12 | "Unregistered buyer" means an individual business, or an | ||||||
| 13 | agent of an individual business, engaged in the business of | ||||||
| 14 | purchasing from the public, scrap precious metals, including, | ||||||
| 15 | but not limited to, jewelry, precious stones, semi-precious | ||||||
| 16 | stones, coins, silver, gold, and platinum, that conducts | ||||||
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| 1 | transactions at a temporary buying location but is not | ||||||
| 2 | registered under this Act. | ||||||
| 3 | (b) An unregistered buyer that seeks to conduct business at | ||||||
| 4 | a temporary buying location in this State must comply with all | ||||||
| 5 | of the following: | ||||||
| 6 | (1) An unregistered buyer must register with the | ||||||
| 7 | sheriff of the county at least 30 days prior to its | ||||||
| 8 | intention to conduct transactions in that county. | ||||||
| 9 | (2) An unregistered buyer must submit by 6 a.m. each | ||||||
| 10 | day to the sheriff of the county in which he or she is | ||||||
| 11 | located detailed transaction records for the previous day, | ||||||
| 12 | which must include purchaser, seller, and inventory | ||||||
| 13 | information pursuant to subsection (b) of Section 5 of this | ||||||
| 14 | Act. | ||||||
| 15 | (3) An unregistered buyer must pay a registration fee | ||||||
| 16 | to the sheriff of the county in which it seeks to conduct | ||||||
| 17 | business. This fee shall be used to defray the cost of | ||||||
| 18 | reviewing the records required under this Section and may | ||||||
| 19 | be apportioned as the sheriff sees fit.
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| 20 | Section 99. Effective date. This Act takes effect upon | ||||||
| 21 | becoming law.".
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