Public Act 90-0056 of the 90th General Assembly

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Public Act 90-0056

HB2157 Enrolled                                LRB9004926JScc

    AN ACT to amend the Pawnbroker Regulation Act by changing
Section 5.

    Be it enacted by the People of  the  State  of  Illinois,
represented in the General Assembly:

    Section  5.   The Pawnbroker Regulation Act is amended by
changing Section 5 as follows:

    (205 ILCS 510/5) (from Ch. 17, par. 4655)
    Sec. 5. Record requirements.
    (a)  Except in municipalities located in counties  having
3,000,000  or  more  inhabitants,  every pawn and loan broker
shall keep a standard record book that has been  approved  by
the  sheriff  of  the  county  in  which  the pawnbroker does
business. In municipalities in  counties  with  3,000,000  or
more  inhabitants,  the  record book shall be approved by the
police department of the municipality in which  the  pawn  or
loan broker does business., in which shall be written in ink,
At  the time of each and every loan or taking of a pledge, an
accurate account and description, in the English language, of
all the goods, articles and other things pawned  or  pledged,
the  amount of money, value or thing loaned thereon, the time
of pledging the same, the rate of interest to be paid on such
loan, and the name and residence of the  person  making  such
pawn  or  pledge  shall be written in ink in the record book.
Such entry shall include the serial number or  identification
number  of  items  received  which  are required to bear such
number. Every pawnbroker shall also record in  his  book,  an
accurate account and description, in the English language, of
all  goods,  articles  and other things purchased or received
for  the  purpose  of  resale  or  loan  collateral  by   the
pawnbroker  from any source, not in the course of a pledge or
loan, the time of such purchase or receipt and the  name  and
address  of  the  person  or business which sold or delivered
such goods, articles, or other things to the  pawnbroker.  No
entry in such book shall be erased, mutilated or changed.
    (b)  Every   pawnbroker   shall   require   2   forms  of
identification to be shown him by  each  person  pledging  or
pawning   any   goods,   articles  or  other  things  to  the
pawnbroker.  One of the  two  forms  of  identification  must
include  his  or  her  residence  address.   These  forms  of
identification  shall  include, but not be limited to, any of
the  following:   driver's  license,  social  security  card,
utility bill, employee or student identification card, credit
card,  or  a  civic,  union   or   professional   association
membership card.
(Source: P.A. 84-1308.)

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

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