New Regulations for Pawnbrokers and Precious Metals Dealers in West Chicago
West Chicago, Illinois: October 5, 2012 - The West Chicago City Council unanimously passed an ordinance on Monday, October 1, 2012, regulating pawnbrokers and precious metals dealers operating within the city. Among other things, the ordinance will require these businesses to be licensed. Also, pawnbrokers and precious metals dealers will be required to record each transaction and submit a daily electronic report to the West Chicago Police Department.
This ordinance is the product of several months of work, during which time members of the City Council met with business owners and incorporated some of their ideas into the ordinance. It is intended to regulate precious metals dealers and provide additional oversight to pawnbrokers conducting business in West Chicago, and also assist law enforcement officers in the identification and apprehension of individuals responsible for pawning or selling stolen goods to pawnbrokers and precious metals dealers operating within the city.
A copy of the ordinance may be found at www.westchicago.org on the Police page.