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90_HB0805
205 ILCS 510/1 from Ch. 17, par. 4651
Amends the Pawnbroker Regulation Act. Expands the
definition of pawnbroker to include a person who operates a
business for profit that buys, sells, possesses on
consignment for sale, or trades previously owned goods.
Exempts people who conduct garage sales or certain charitable
sales and people who buy or sell consumer goods, the majority
of which are at least 25 years old. Effective immediately.
LRB9003726LDdv
LRB9003726LDdv
1 AN ACT to amend the Pawnbroker Regulation Act by changing
2 Section 1 and adding Section 1.1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Pawnbroker Regulation Act is amended by
6 changing Section 1 and adding Section 1.1 as follows:
7 (205 ILCS 510/1) (from Ch. 17, par. 4651)
8 Sec. 1. Except as provided in Section 1.1, every person
9 or company engaged in the business of receiving property in
10 pledge or as security for money or other thing advanced to
11 the pawner or pledger, shall be held and is hereby declared
12 and defined to be a pawnbroker. Additionally, a person who
13 operates a business for profit that buys, sells, possesses on
14 consignment for sale, or trades jewelry, goods, wares,
15 merchandise, or other materials that previously were owned by
16 a consumer, including but not limited to, furniture,
17 appliances, clothing, automobile accessories, books, metals,
18 video equipment, electronic recording devices, televisions,
19 stereos, and cameras, whether in bulk or manufactured state,
20 shall also be known as a pawnbroker. The term pawnbroker
21 shall include a person or business that commonly purchases
22 and resells items from persons other than dealers and
23 suppliers.
24 (Source: Laws 1909, p. 300.)
25 (205 ILCS 5/1.1 new)
26 Sec. 1.1. Exemptions. A person shall not be considered
27 a pawnbroker under this Act for engaging in the following
28 activities:
29 (1) garage sales;
30 (2) sales conducted by a governmental, civic,
-2- LRB9003726LDdv
1 partriotic, fraternal, educational, religious, or benevolent
2 organization that has been in active and continuous existence
3 for at least one year prior to the sale or that is
4 incorporated as a not-for-profit corporation in this State;
5 (3) the sale or purchase of consumer goods, the majority
6 of which are 25 or more years old.
7 Section 99. Effective date. This Act takes effect upon
8 becoming law.