Business & Occupational Licenses Committee

Filed: 2/4/2010

 

 


 

 


 
09600HB4854ham001 LRB096 16446 MJR 35516 a

1
AMENDMENT TO HOUSE BILL 4854

2     AMENDMENT NO. ______. Amend House Bill 4854 by replacing
3 everything after the enacting clause with the following:
 
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

 

 

09600HB4854ham001 - 2 - LRB096 16446 MJR 35516 a

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.
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.".