Synopsis of Bill as introduced:
Amends the Pawnbroker Regulation Act. Authorizes the Commissioner
by Banks and Real Estate to obtain an injunction to enforce the Act.
Removes the requirement that the Commissioner have cause to believe
that unlawful activity is occurring before examining the affairs of a
pawnshop. Requires pawnbrokers to record the serial number of all
items pledged, not only those required to bear a serial number.
Authorizes the Commissioner to inspect the records of a pawnbroker.
Requires records to be maintained for 3 years. Increases the penalties
for operating a pawnshop without a license. Effective immediately.
Last action on Bill: PUBLIC ACT.............................. 92-0215
Last action date: AUG-02-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status