HB 4714

  • Illinois House Bill
  • 97th Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Pawnbroker-Precious Metal


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.

Bill Sponsors (1)


No votes to display


Jan 08, 2013


Session Sine Die

Mar 09, 2012


Rule 19(a) / Re-referred to Rules Committee

Feb 17, 2012


Assigned to Business & Occupational Licenses Committee

Feb 08, 2012


Added Co-Sponsor Rep. Jim Watson


Added Co-Sponsor Rep. Thomas Morrison

Feb 03, 2012


Referred to Rules Committee


First Reading

Feb 02, 2012


Filed with the Clerk by Rep. Pam Roth

Bill Text

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