Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 360 - LICENSING AND REGULATION OF PAWNBROKERS
Subpart B - PAWNSHOP LICENSE
Section 360.130 - Standards for Licensure
Universal Citation: 38 IL Admin Code ยง 360.130
Current through Register Vol. 48, No. 12, March 22, 2024
a) Unless otherwise authorized by the Secretary, in order to be eligible for a license to operate a pawnshop, each applicant and principal party must:
1) if an individual, be 18 years of age or
older;
2) not have been convicted
of a felony or of any criminal offense relating to dishonesty or breach of
trust in connection with the operations of a pawnshop;
3) possess the character and general fitness
necessary to warrant belief that the business will be operated in a lawful and
fair manner.
b) In determining whether to grant a license, the Secretary shall consider the nature of the offense, the amount of time since the conviction, and any other mitigating factors the Secretary may deem appropriate with regards to an applicant or principal party who has been convicted of a felony or any criminal offense relating to dishonesty or breach of trust in connection with the operations of a pawnshop.
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