Bill Status of HB 4714   97th General Assembly

Short Description:  PAWNBROKER-PRECIOUS METAL

House Sponsors
Rep. Pam Roth, Thomas Morrison and Jim Watson

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 510/0.05
205 ILCS 510/1from Ch. 17, par. 4651
205 ILCS 510/1.2 new
205 ILCS 510/1.4 new
205 ILCS 510/4.5 new
205 ILCS 510/5from Ch. 17, par. 4655
205 ILCS 510/6from Ch. 17, par. 4656
205 ILCS 510/7from Ch. 17, par. 4657
205 ILCS 510/7.5
205 ILCS 510/8from Ch. 17, par. 4658
205 ILCS 510/9from Ch. 17, par. 4659
205 ILCS 510/11from Ch. 17, par. 4661
205 ILCS 510/12

Synopsis As Introduced
Amends the Pawnbroker Regulation Act. Defines "precious metal scrapper". Provides that the Secretary of Financial and Professional Regulation shall issue licenses on an annual or multi-year basis for operating a precious metal scrapper. Provides that it shall be unlawful to operate a precious metal scrapper without a license issued by the Secretary. Provides that a precious metal scrapper may not, upon physical receipt of gold or silver, offer, promise, or pay the seller an amount less than 60% of the gold or silver's actual melt value. Provides that, upon physical receipt of gold or silver, a precious metal scrapper must maintain possession of the gold or silver for a period of 10 business days. Makes changes concerning the administration of the Act, manager licensing, record requirements, the inspection of records, daily reports, reports to the Secretary, violations of the Act, and hold orders.

Actions 
DateChamber Action
  2/2/2012HouseFiled with the Clerk by Rep. Pam Roth
  2/3/2012HouseFirst Reading
  2/3/2012HouseReferred to Rules Committee
  2/8/2012HouseAdded Co-Sponsor Rep. Thomas Morrison
  2/8/2012HouseAdded Co-Sponsor Rep. Jim Watson
  2/17/2012HouseAssigned to Business & Occupational Licenses Committee
  3/9/2012HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

Back To Top