Title 5 — Title 5

This chapter shall be known and may be cited as the “Alabama Pawnshop Act.” History: (Acts 1992, No. 92-597, p. 1227, §1.)

Maturity Date Fixed in Ticket. (a) A pawnbroker shall have a lien on the pledged goods pawned for the money advanced and the pawnshop charge owed, but not for other debts due to the pawnbroker, subject to the rights of other persons who have an ownership interest or prior liens i…

License Not Required Upon Change in Ownership. (a) A person may not engage in business as a pawnbroker unless the person has a valid license authorizing engagement in the business. A separate license is required for each place of business. The supervisor may issue more than one l…

(a) To be eligible for a pawnshop license, an applicant shall: (1) Operate lawfully and fairly within the purposes of this chapter. (2) Not have been convicted of a felony within the last 10 years or not be acting as a beneficial owner for someone who has been convicted of a felo…

License. (a) The supervisor may, after notice and hearing, suspend or revoke any license upon a finding that: (1) The licensee, either knowingly or without the exercise of due care to prevent the same, has violated this chapter. (2) A fact or condition exists which, if it had exi…

Etc. (a) An application for a new pawnshop license, the transfer of an existing pawnshop license, or the approval of a change in the ownership of a licensed pawnshop shall be under oath and shall state the full name and place of residence of the applicant, the place where the bus…

Put on Seven-Day Hold; When Property May Be Placed on Hold. (a) No pledged or purchased goods may be confiscated if the property pledged to, or purchased by, a pawnbroker may be put on a seven-day hold by the authorized law enforcement authorities, but the pledged or purchased pr…

Any person who engages in the business of operating a pawnshop without first securing the license prescribed by this chapter shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine not in excess of $1,000.00 or by confinement in the county jail …

Records; Compliance Enforced by Supervisor; Order Requiring Person to Refrain from Violation. (a) In addition to any other penalty which may be applicable, any licensee who willfully violates this chapter or who willfully makes a false entry in any record specifically required by…

Records. The Department of Public Safety on request shall supply to the supervisor any available arrest and conviction records of an individual applying for or holding a license under this chapter. History: (Acts 1992, No. 92-597, p. 1227, §18.)

Chapter. Any municipality may enact ordinances which are in compliance with but not more restrictive than this chapter. Any existing or future order, ordinances, or regulation which conflicts with this provision shall be null and void. History: (Acts 1992, No. 92-597, p. 1227, §2…

The following words and phrases shall have the following meanings: (1) APPROPRIATE LAW ENFORCEMENT AGENCY. The sheriff of each county in which the pawnbroker maintains an office, or the police chief of the municipality in which the pawnbroker maintains an office. (2) ATTORNEY GEN…

Chapter 12 of Title 40; Chapter Not to Repeal Uniform Commercial Code. Notwithstanding the foregoing, all persons currently doing business as pawnbrokers and those seeking licensure under this chapter, shall be subject to the applicable licensing and issuance fees levied under Ch…

At the time of making the pawn or purchase transaction, the pawnbroker shall enter on the pawn ticket a record of the following information which shall be typed or written in ink and in the English language: (1) A clear and accurate description of the property, including model an…

The following information shall be printed on all pawn tickets: (1) The statement that “Any personal property pledged to a pawnbroker within this state is subject to sale or disposal when there has been no payment made on the account for a period of 30 days past maturity date of …

Maintain Record of Transactions; Goods to Be Maintained on Premises for Certain Number of Days Before Resale. (a) The pledgor or seller shall sign a statement verifying that the pledgor or seller is the rightful owner of the goods or is entitled to sell or pledge the goods and sh…

A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within 30 days following the originally fixed maturity date shall be forfeited to the pawnbroker and absolute right, title, and interest in and to the …

(a) A pawnbroker may contract for and receive a pawnshop charge in lieu of interest or other charges for all services, expenses, costs, and losses of every nature but not to exceed 25 percent of the principal amount, per month, advanced in the pawn transaction. (b) Any interest, …

A pawnbroker, any clerk, agent, or employee of a pawnbroker shall not do any of the following: (1) Fail to make an entry of any material matter in the record book. (2) Make any false entry therein. (3) Falsify, obliterate, destroy, or remove from the place of business records, bo…

Goods; Lost or Damaged Pledged Goods in Possession of Pawnbroker; Lost, Destroyed, or Stolen Pawn Ticket. (a) Any person properly identified as pledgor or as authorized representative of the pledgor and presenting a pawn ticket to the pawnbroker shall be entitled to redeem or rep…