IL HB5341

Amends the Pawnbroker Regulation Act to define "hold order" as a written legal instrument issued by a law enforcement officer requiring a pawnbroker to retain possession of pledged or purchased goods believed to be misappropriated.

Requires pawnbrokers to release property subject to a hold order to law enforcement upon written notice that the property is needed for criminal investigation and prosecution, with the officer providing written acknowledgment.

Establishes a 120-day limit for law enforcement to complete criminal investigations; if investigation is not completed within 120 days, the officer must return the property to the pawnbroker or obtain a warrant for continued custody.

Allows prosecuting attorneys to retain custody of property needed as evidence in criminal cases by providing written notice to the pawnbroker, and requires return of property within 15 days after case disposition unless a court order transfers ownership to another person.

Requires court orders transferring ownership of property to another person to mandate that the defendant pay restitution to the pawnbroker for the amount received, plus reasonable attorney's fees and any interest or fees owed.