(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 property containing an accurate account and description, in the English language, of the following: (1) All the goods, articles or other things pawned or |
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(2) The amount of money and the time of pledging the
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(3) The rate of interest to be paid on the pawn.
(4) The name and residence of the person making the
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(5) The dollar amount of any fees as specified in
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(6) A disclosure that by extending the pawn, the fees
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(b) The Secretary may adopt rules prescribing the form and content of the disclosures required by subsection (a).
(Source: P.A. 103-585, eff. 3-22-24.)
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