Chapter 205 — FINANCIAL REGULATION

(205 ILCS 511/10-65) Sec. 10-65. Responsible pawnbroker training; pawnbroker managers and employees. (a) A person who manages or is an employee of a pawnbroker that provides pawnbroker services and related functions shall complete, within 90 days after commencing employment, a mi…

(205 ILCS 511/10-70) Sec. 10-70. Rules and regulations. (a) In addition to such powers as may be prescribed by this Act, the Department is hereby authorized and empowered to adopt rules consistent with the purposes of this Act, including, but not limited to: (1) rules in connecti…

(205 ILCS 511/10-75) Sec. 10-75. Appeal and review. (a) Any person or entity affected by a decision of the Secretary under any provision of this Act may obtain review of that decision within the Department. (b) The Department may, in accordance with the Illinois Administrative Pr…

(205 ILCS 511/10-80) Sec. 10-80. Violations of this Act; Secretary's orders. (a) If the Secretary finds, as the result of examination, investigation, or review of reports submitted by a licensee, that the business and affairs of a licensee are not being conducted in accordance wi…

(205 ILCS 511/10-85) Sec. 10-85. Collection of compensation. Unless exempt from licensure under this Act, no person engaged in or offering to engage in any act or service for which a license under this Act is required may bring or maintain any action in any court of this State to…

(205 ILCS 511/10-90) Sec. 10-90. Injunction. The Secretary, through the Attorney General, may maintain an action in the name of the People of the State of Illinois and may apply for an injunction in the circuit court to enjoin a person from engaging in unlicensed pawnbroker activ…

(205 ILCS 511/15-10) Sec. 15-10. Fees. (a) It is unlawful for any pawnbroker to charge or collect a greater benefit or percentage upon money advanced, and for the use and forbearance thereof, than the amount specified in subsection (c). Nothing in this Section shall be construed …

(205 ILCS 511/15-15) Sec. 15-15. Display of fee provision. Every pawnbroker shall at all times have and keep Section 15-10 printed in the English and Spanish languages and framed and posted in a prominent and conspicuous position in its place of business, so that the same shall b…

(205 ILCS 511/15-20) Sec. 15-20. Disclosure of article description and pawn terms. (a) Every pawnbroker shall, at the time of making any advancement or pawn, deliver to the person pawning or pledging any property, a memorandum, contract, or note signed by the person pawning the p…

(205 ILCS 511/15-25) Sec. 15-25. Record requirements. (a) Except in municipalities located in counties having 3,000,000 or more inhabitants, every pawnbroker shall keep a standard record book that has been approved by the sheriff of the county in which the pawnbroker does busines…

(205 ILCS 511/15-30) Sec. 15-30. Replacement of articles or property; insurance. (a) If any articles or property pledged are lost or rendered inoperable, the pawnbroker shall replace the articles or property with identical articles or property, except that if the pawnbroker canno…

(205 ILCS 511/15-35) Sec. 15-35. Minors. No pawnbroker shall purchase, take, or receive any pawn, any property of any kind from any minor who is under 18 years of age, or the ownership of which is in, or which is claimed by, any such minor, or which may be in the possession or un…

(205 ILCS 511/15-40) Sec. 15-40. Intoxicated persons; persons convicted of theft. No pawnbroker shall knowingly or recklessly purchase or take any article in pawn or purchase from any person appearing to be intoxicated, nor from any person known to have been convicted of theft. A…

(205 ILCS 511/15-45) Sec. 15-45. Altered property; serial number and manufacturer's identification number. (a) No pawnbroker shall receive or purchase any article if the manufacturer's make, model, or serial number, personal identification number, or identifying marks engraved or…

(205 ILCS 511/15-5) Sec. 15-5. General provisions. (a) It is unlawful for an individual or business entity to conduct business in this State using the word "pawn", "pawnshop", or "pawnbroker" in connection with the business or to transact business in this State in a manner that h…

(205 ILCS 511/15-50) Sec. 15-50. Sale of property. (a) No personal property pledged or received on deposit by any pawnbroker shall be permitted to be redeemed from such pawnbroker for a period of 48 hours after the delivery of the copy and statement required by subsection (b) of …

(205 ILCS 511/15-55) Sec. 15-55. Hold order. (a) For the purposes of this Section, "hold order" means a written legal instrument issued to a pawnbroker by a law enforcement officer commissioned by the law enforcement agency of the municipality or county that licenses and regulate…

(205 ILCS 511/20-5) Sec. 20-5. Enforcement; Consumer Fraud and Deceptive Business Practices Act. The Attorney General may enforce a violation of Article 15 of this Act as an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. (Source: P.A. 103-585, ef…

(205 ILCS 511/25-5) Sec. 25-5. Savings provisions. (a) This Act is intended to replace the Pawnbroker Regulation Act in all respects. (b) Beginning on the effective date of this Act, the rights, powers, and duties exercised by the Department of Financial and Professional Regulati…

(205 ILCS 511/5-1) Sec. 5-1. Scope; number of pawnbroker licenses. (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 d…

(205 ILCS 511/5-10) Sec. 5-10. Application process; investigation; fees. (a) The Secretary shall issue a license upon completion of all of the following: (1) The filing of an application for license with the Secretary or the Nationwide Multistate Licensing System and Registry as …

(205 ILCS 511/5-15) Sec. 5-15. Application form. (a) Application for a pawnbroker license must be made in accordance with Section 5-20 and, if applicable, in accordance with requirements of the Nationwide Multistate Licensing System and Registry. The application shall be in writi…

(205 ILCS 511/5-20) Sec. 5-20. Pawnbroker license application and issuance. (a) Applicants for a license shall apply in a form prescribed by the Secretary. Each form shall contain content as set forth by rule, regulation, instruction, or procedure of the Department or Secretary a…

(205 ILCS 511/5-25) Sec. 5-25. Prohibited acts and practices for licensees. (a) It is a violation of this Act for a licensee subject to this Act to: (1) fail to file with the Secretary or Nationwide Multistate Licensing System and Registry, as applicable, when due, any report or …

(205 ILCS 511/5-30) Sec. 5-30. Refusal to issue license. The Secretary shall refuse to issue or renew a license if: (1) it is determined that the applicant is not in compliance with any provisions of this Act; (2) there is substantial continuity between the applicant and any viol…

(205 ILCS 511/5-35) Sec. 5-35. License issuance and renewal; fees. (a) Licenses shall be renewed every year using the common renewal date of the Nationwide Multistate Licensing System and Registry, as adopted by the Secretary. Properly completed renewal application forms and fili…

(205 ILCS 511/5-5) Sec. 5-5. Licensee name. (a) No person, partnership, association, corporation, limited liability company, or other entity engaged in the business regulated by this Act shall operate the business under a name other than the real names of the entity and individua…

(205 ILCS 511/90-10) Sec. 90-10. The Pawnbroker Regulation Act is repealed. (Source: P.A. 103-585, eff. 3-22-24.)

(205 ILCS 511/90-15) Sec. 90-15. (Amendatory provisions; text omitted). (Source: P.A. 103-585, eff. 3-22-24; text omitted.)

(205 ILCS 511/90-20) Sec. 90-20. (Amendatory provisions; text omitted). (Source: P.A. 103-585, eff. 3-22-24; text omitted.)

(205 ILCS 511/90-5) Sec. 90-5. (Amendatory provisions; text omitted). (Source: P.A. 103-585, eff. 3-22-24; text omitted.)

(205 ILCS 511/99-97) Sec. 99-97. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 103-585, eff. 3-22-24.)

(205 ILCS 511/99-99) Sec. 99-99. Effective date. This Act takes effect upon becoming law. (Source: P.A. 103-585, eff. 3-22-24.)

(205 ILCS 605/0.01) (from Ch. 17, par. 500) Sec. 0.01. Short title. This Act may be cited as the Consumer Deposit Account Act. (Source: P.A. 86-1324.)

(205 ILCS 605/1) (from Ch. 17, par. 501) Sec. 1. Definitions. For the purposes of this Act: "Consumer-deposit account" means a demand or other similar deposit account, such as a checking, negotiable order of withdrawal, money market, savings deposit, share, or member account esta…

(205 ILCS 605/2) (from Ch. 17, par. 502) Sec. 2. Identification and numbering of consumer - deposit account. For all consumer-deposit accounts opened after January 1, 1982, all new checks, drafts, or orders drawn on financial institution accounts shall clearly display on the face…

(205 ILCS 605/3) (from Ch. 17, par. 503) Sec. 3. Disclosure statements. (a) Every financial institution shall provide a disclosure statement for each consumer-deposit account offered by the institution containing the following information: (1) a description of the consumer-deposi…

(205 ILCS 605/3.5) Sec. 3.5. Notification to consumer of invalidated routing number. At least 30 days before a financial institution invalidates a routing number on a consumer deposit account, whether as a result of a merger, purchase and acquisition, or other transaction, the in…

(205 ILCS 605/4) (from Ch. 17, par. 504) Sec. 4. (a) Every financial institution shall offer a Basic Checking Account to any natural person 65 years of age or older who requests such an account. (b) A Basic Checking Account shall be established by either (1) a minimum initial dep…

(205 ILCS 605/5) (from Ch. 17, par. 505) Sec. 5. (Repealed). (Source: P.A. 86-1213. Repealed by P.A. 89-364, eff. 8-18-95.)

(205 ILCS 610/0.01) (from Ch. 17, par. 1000) Sec. 0.01. Short title. This Act may be cited as the Banking Emergencies Act. (Source: P.A. 86-1324.)

(205 ILCS 610/1) (from Ch. 17, par. 1001) Sec. 1. Definitions. As used in this Act, unless the context otherwise requires: (1) "Commissioner" means the officer of this State designated by law to exercise supervision over banks and trust companies, and any other person lawfully ex…

(205 ILCS 610/2) (from Ch. 17, par. 1002) Sec. 2. Power of Commissioner. (a) Whenever the Commissioner is notified by any officer of a bank or by any other means becomes aware that an emergency exists, or is impending, he may, by proclamation, authorize all banks in the State of …

(205 ILCS 610/3) (from Ch. 17, par. 1003) Sec. 3. Notice to Commissioner and the public. A bank closing an office or offices under Section 2 of this Act shall give as prompt notice of its action as conditions will permit and by any means available, to the Commissioner, or in the …

(205 ILCS 610/4) (from Ch. 17, par. 1004) Sec. 4. Effect of closing. Any day on which a bank, or any one or more of its offices, is closed during all or any part of its normal banking hours under Section 2 of this Act shall be, with respect to such bank or, if not all of its offi…

(205 ILCS 610/5) Sec. 5. Year 2000 Consumer Protections. (a) For the purposes of this Section: (1) the term "Illinois financial institution" means: (A) a State bank, a national bank, or an out-of-state bank, as those terms are defined in the Illinois Banking Act, or any subsidiar…

(205 ILCS 610/6) Sec. 6. Rulemaking. The Department of Financial and Professional Regulation may adopt rules to address the closing or alteration of hours by banks at one or more of their offices when affected by an emergency or impending emergency. (Source: P.A. 102-553, eff. 1-…

(205 ILCS 616/1) Sec. 1. This Act may be cited as the Electronic Fund Transfer Act. (Source: P.A. 89-310, eff. 1-1-96.)

(205 ILCS 616/10) Sec. 10. Definitions. For purposes of this Act, the words and phrases defined in this Section shall have the meanings ascribed to them unless the context requires otherwise. Whenever the terms "network" and "switch" are used, they shall be deemed interchangeable…

(205 ILCS 616/15) Sec. 15. Exemptions and limitations. (a) A seller of goods and services on whose premises one or more terminals are established is not, solely by virtue of such establishment or solely by virtue of the processing of interchange transactions in connection with th…