Curriculum Requirements

TITLE 38: FINANCIAL INSTITUTIONS CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION PART 360 LICENSING AND REGULATION OF PAWNBROKERS SECTION 360.810 CURRICULUM REQUIREMENTS Section 360.810  Curriculum Requirements a)         Subject to final approval of the Department, the curriculum for a responsible pawnbroker training program must include five or more of the following topics: 1) Federal, State, and local laws, administrative rules, and regulations that pertain to the business of being a licensed pawnbroker under the Act; 2) Procedures for identifying possible fraudulent transactions; 3) Anti-money laundering; 4) Store operations, maintenance of records, inventory management, recording and reporting of serial numbers; 5) General product knowledge, including, but not limited to, jewelry and firearms; 6) Identification, verification, and weighing of precious metals; 7) Inspections by State and local licensing and law enforcement authorities, including hold order procedures; 8) The federal Military Lending Act; 9) Pawn forfeits; 10) Security, risk, and crisis management; or 11)       Proper maintenance of records required by the Department. [205 ILCS 511/10-65] b)         Vendors have a continuing obligation to update the approved curriculum within 30 calendar days after the effective date of any amendment to the Act or this Part that alters the accuracy of the curriculum.  Any updates to the curriculum shall be submitted to the Department for approval before the vendor includes the amended curriculum in its course. c)         After a vendor has been approved, it may update the approved curriculum to reflect changes in the industry, scientific knowledge, or for any other reason.  Any updates to the curriculum must be submitted to the Department for approval before the vendor includes the amended curriculum in its course. d)         Failure to submit any updated materials as required in subsections (b) and (c) shall, absent good cause, result in the Department withdrawing its approval of the vendor.