Illinois § 15-30
Full text of Illinois Illinois Compiled Statutes § 15-30, with citation guidance and answers to common questions.
§ 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 cannot reasonably obtain identical articles or property, the pawnbroker shall replace the articles or property with like articles or property. (b) No pawnbroker shall conduct business in this State, unless the pawnbroker maintains insurance coverage covering all hazards equal to at least 2 times the aggregate value of the outstanding pawns for items held in pawn. Such insurance shall be obtained from an insurance company authorized to do business in Illinois. (c) The pawnbroker shall file a copy of proof of insurance coverage with the Secretary. A pawnbroker or an insurance company shall not cancel the insurance coverage, except upon notice to the Secretary by certified mail, return receipt requested. The cancellation is not effective until 30 days after the Secretary receives the notice. (Source: P.A. 103-585, eff. 3-22-24.)
Frequently Asked Questions About Illinois § 15-30
What does Illinois Compiled Statutes § 15-30 cover?
Section 15-30 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 15-30?
A common citation format is "Illinois Compiled Statutes § 15-30" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 15-30 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.