Section 360.110  Application for License

a)         Licensure Requirement, Where to File.  Section 0.05(c) of the Pawnbroker Regulation Act [205 ILCS 510/0.05(c)] provides that it is unlawful to operate a pawnshop without a license issued by the Secretary.  All requests for an application package must be directed to the Department of Financial and Professional Regulation-Division of Banking, Pawnbroker Regulation Section, 320 W. Washington Street, 6^th Floor, Springfield, Illinois 62786; Telephone (217) 785-2900; or IL.Pawnbroker@illinois.gov, by written correspondence, telephone or electronic communication. A separate license is required for each pawnshop location.

b)         Instructions, Contents.  An application for a license must be submitted on the form prescribed in Section 360.210 of this Part. An application for a license shall be made under oath and state the full name and address of the applicant together with any other relevant information the Secretary shall require.  The application shall also include, but not be limited to, the following requirements:

1)         Disclosure of Principal Parties.  The full name and place of residence of all principal parties must be provided.

2)         Background Investigation.  The Secretary may require that credit and criminal history record investigations be conducted on each applicant and principal party.  Each applicant and principal party shall complete an Authorization For Release of Personal Information form that authorizes the Secretary to conduct a criminal history record investigation and a review of retail credit agencies' records (including credit reports and ratings).  At the request of the Secretary, each applicant and principal party shall submit to, and have performed, a criminal history record investigation in the form and manner required by the Department of State Police and the Federal Bureau of Investigation.  The Secretary need not cause additional criminal history record investigations to be conducted on an applicant or principal party for whom the Secretary or any other government agency has caused such investigations to have been conducted previously unless such additional investigations are otherwise required by law or unless the Secretary deems such additional investigations to be necessary for the purposes of carrying out the Secretary's statutory powers and responsibilities.

3)         Insurance Requirement. The applicant, whether seeking a new license or renewing an existing license, shall provide the Secretary with proof of hazard insurance that evidences the name and address of the insuring company, the insurance policy number, the extent of coverage relating to property in active pawn, the amount of coverage, and the policy's expiration date. Thereafter, this information shall be held in file by the applicant for inspection at all times on demand by the Secretary.

4)         Fees.  The applicant must submit the Application Fee of $765 with the completed application.  Unless otherwise permitted by the Secretary, the payment of all fees shall be made by certified check, money order, an electronic transfer of funds, or an automatic debit of an account.  Certified checks or money orders shall be made payable to the Department.

(Source:  Amended at 35 Ill. Reg. 14957, effective September 9, 2011)