Illinois § 5-1 Scope; number of pawnbroker licenses

Illinois Statutes

§ 5-1 — Scope; number of pawnbroker licenses

Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 511/ Pawnbroker Regulation Act of 2023.

(a)It is unlawful for any person to operate as a pawnbroker in Illinois except as authorized by this Act and without first having obtained a license in accordance with this Act.

(b)The business of a pawnbroker does not include advances of money secured by a deposit or pledge of title to personal property or motor vehicles.

(c)There shall not be more than 250 active pawnbroker licenses at any one time within the State of Illinois. There shall not be more than 150 active pawnbroker licenses issued for the counties of Cook, DuPage, Kane, Lake, McHenry, and Will at any one time.

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(a) It is unlawful for any person to operate as a pawnbroker in Illinois except as authorized by this Act and without first having obtained a license in accordance with this Act. (b) The business of a pawnbroker does not include advances of money secured by a deposit or pledge of title to personal property or motor vehicles. (c) There shall not be more than 250 active pawnbroker licenses at any one time within the State of Illinois. There shall not be more than 150 active pawnbroker licenses issued for the counties of Cook, DuPage, Kane, Lake, McHenry, and Will at any one time.

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