Illinois Statutes Chapter 205. Financial Regulation § 511/25-5. Savings provisions

(a) This Act is intended to replace the Pawnbroker Regulation Act in all respects.

(b) Beginning on the effective date of this Act, the rights, powers, and duties exercised by the Department of Financial and Professional Regulation under the Pawnbroker Regulation Act shall continue to be vested in, to be the obligation of, and to be exercised by the Department of Financial and Professional Regulation under the provisions of this Act.

(c) This Act does not affect any act done, ratified, or cancelled, any right occurring or established, or any action or proceeding commenced in an administrative, civil, or criminal cause before the effective date of this Act by the Department of Financial and Professional Regulation under the Pawnbroker Regulation Act. Those actions or proceedings may be prosecuted and continued by the Department of Financial and Professional Regulation under this Act.

(d) This Act does not affect any license, certificate, permit, or other form of licensure issued by the Department of Financial and Professional Regulation under the Pawnbroker Regulation Act. All such licenses, certificates, permits, or other form of licensure shall continue to be valid under the terms and conditions of this Act.

(e) The rules adopted by the Department of Financial and Professional Regulation relating to the Pawnbroker Regulation Act, unless inconsistent with the provisions of this Act, are not affected by this Act, and on the effective date of this Act, those rules become rules under this Act.

(f) This Act does not affect any discipline, suspension, or termination that has occurred under the Pawnbroker Regulation Act or other predecessor Act. Any action for discipline, suspension, or termination instituted under the Pawnbroker Regulation Act shall be continued under this Act.