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La. Rev. Stat. § 37:1782 Definitions
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§1782. Definitions As used in this Part: (1) "Applicable liabilities" include trade or other accounts payable; accrued sales, income, or other taxes; accrued expenses; and notes or other payables that are unsecured or secured in whole or part by current assets. (2) "Commissioner"…
La. Rev. Stat. § 37:1783 Nature of the pawn transaction
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§1783. Nature of the pawn transaction The pawn transaction constitutes a service and vests the pawnbroker with the right of causing the debt to be satisfied by privilege and in preference to all other creditors, secured and unsecured, perfected or not. The pawnbroker can be compe…
La. Rev. Stat. § 37:1784 Waiver, agreement to forego rights; prohibited
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§1784. Waiver, agreement to forego rights; prohibited A pawn customer may not waive or agree to forego rights or benefits under this Part except that a claim, if disputed in good faith, may be settled by compromise or agreement. Acts 1993, No. 391, §1, eff. Sept. 1, 1993.
La. Rev. Stat. § 37:1785 Licensing of pawnbrokers; limit to location
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§1785. Licensing of pawnbrokers; limit to location A. No person shall do business as a pawnbroker without having first obtained the license required by R.S. 47:341 et seq. and as further required by this Part. A separate license is required for each pawnshop. The commissioner sha…
La. Rev. Stat. § 37:1786 Application; fees; bond
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§1786. Application; fees; bond A. An application for a new pawnshop license or the approval of a change in the ownership of an existing licensed pawnshop shall be made under oath and state the applicant's full name, the applicant's place of residence, the place where business is …
La. Rev. Stat. § 37:1787 Eligibility for license, net assets or bond
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§1787. Eligibility for license, net assets or bond A. To be eligible for a license an applicant shall meet all of the following: (1) Be over eighteen years of age and of good character and reputation. (2) Not have been convicted of a felony under the laws of the United States, th…
La. Rev. Stat. § 37:1788 Change in ownership; change in name; change in location; ceasing to do business
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§1788. Change in ownership; change in name; change in location; ceasing to do business A. Except as provided below, an application for a new license is required upon a twenty-five percent or more change in the ownership of any licensed pawnshop. B.(1) In the event that a licensee…
La. Rev. Stat. § 37:1789 Records from the Department of Public Safety and Corrections
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§1789. Records from the Department of Public Safety and Corrections The Department of Public Safety and Corrections on request shall supply to the commissioner any available arrest and conviction records of any person applying for or holding a license under this Part including th…
La. Rev. Stat. § 37:1790 Hours of pawnbrokers; days of operation
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§1790. Hours of pawnbrokers; days of operation A. A pawnbroker shall neither open his place of business before the hour of 7:00 a.m. nor keep it open after the hour of 9:00 p.m., except in the month of December, during which time the hour of 9:00 p.m. shall be extended to 10:00 p…
La. Rev. Stat. § 37:1791 Maximum rate of interest
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§1791. Maximum rate of interest Notwithstanding any other provisions of law to the contrary, a pawnbroker may charge a maximum rate of interest of ten percent per month on pawn transactions. Acts 1993, No. 391, §1, eff. Sept. 1, 1993.
La. Rev. Stat. § 37:1792 Pledgor's warranty; division of things
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§1792. Pledgor's warranty; division of things A pledgor warrants that the thing pledged is not stolen, that the pledgor has not received the thing by fraud, that the thing has no liens or encumbrances against it, that the pledgor is not in voluntary or involuntary bankruptcy and …
La. Rev. Stat. § 37:1793 Pawn ticket
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§1793. Pawn ticket A. A pawnbroker, at the time the pawn transaction is originally entered into, shall deliver to the pledgor a memorandum or ticket which shall clearly set forth all of the following and which shall be maintained as a record for the pawnbroker for a period of two…
La. Rev. Stat. § 37:1794 Presentation of ticket, presumption
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§1794. Presentation of ticket, presumption Except as otherwise provided in this Part, any person presenting a pawn ticket to the pawnbroker shall be presumed to be entitled to redeem the pledged things described therein. Acts 1993, No. 391, §1, eff. Sept. 1, 1993.
La. Rev. Stat. § 37:1795 Lost, destroyed, or stolen ticket
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§1795. Lost, destroyed, or stolen ticket A. In the event a pawn ticket has been lost, destroyed, or stolen a pawnbroker shall either deliver the pledged things to the pledgor or issue the pledgor a new pawn ticket. But before doing either, the pawnbroker shall require the pledgor…
La. Rev. Stat. § 37:1796 Records to be kept, entries required
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§1796. Records to be kept, entries required A. Every pawnbroker shall maintain a permanent record of all transactions of things pledged on the pawnshop premises. This record, which may be maintained electronically, shall be kept for a period of two years. Entries shall be made in…
La. Rev. Stat. § 37:1797 Records open to inspection
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§1797. Records open to inspection A. The commissioner, or his designee, may inspect all records of any person regulated by the provisions of this Part to ensure compliance with the provisions of this Part and any rules or regulations adopted under this Part. B. The records mainta…
La. Rev. Stat. § 37:1798 Information furnished to police, sheriff, or Department of Public Safety and Corrections
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§1798. Information furnished to police, sheriff, or Department of Public Safety and Corrections A.(1) Every pawnbroker shall provide all transactional information obtained pursuant to R.S. 37:1796 to the chief of police of the city or town in which he is doing business or to the …
La. Rev. Stat. § 37:1799 Service charge
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§1799. Service charge A. In addition to interest, a pawnbroker may charge a maximum of ten percent of the loan amount as a service charge each month of a pawn transaction. B. The service charge permitted in this Part shall be in lieu of all other charges allowable to other classe…
La. Rev. Stat. § 37:1800 Maturity dates; sale of things
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§1800. Maturity dates; sale of things A. The maturity date for any thing pledged to a pawnbroker shall be no less than three months from the pawn transaction date. B. No pawnbroker shall sell any thing pledged to him as security for a loan before the next business day following t…
La. Rev. Stat. § 37:1801 Condition for sale of used motor vehicles; "title only" pawn transactions prohibited
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§1801. Condition for sale of used motor vehicles; "title only" pawn transactions prohibited A. Notwithstanding any other provisions of the law to the contrary, except where a pawnbroker possesses a valid used motor vehicle dealer's license issued pursuant to R.S. 32:771 et seq., …
La. Rev. Stat. § 37:1802 Minors pledging things
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§1802. Minors pledging things No natural person under the age of eighteen years shall deposit in pledge with a pawnbroker any thing of value for money loaned. Acts 1993, No. 391, §1, eff. Sept. 1, 1993.
La. Rev. Stat. § 37:1803 Pledgor's liability prohibited
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§1803. Pledgor's liability prohibited A pledgor shall have no obligation to redeem pledged things or make any payment on any pawn transaction. Acts 1993, No. 391, §1, eff. Sept. 1, 1993.
La. Rev. Stat. § 37:1804 Prohibited practices
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§1804. Prohibited practices A pawnbroker shall not: (1) Accept a pledge from any natural person under the age of eighteen. (2) Make any agreement requiring the personal liability of the pledgor in connection with a pawn transaction. (3) Accept any waiver, in writing or otherwise,…
La. Rev. Stat. § 37:1805 Stolen things
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§1805. Stolen things A. For the purposes of this Part, a thing is stolen when one has taken possession of it without the consent of its owner. A thing is not stolen when: (1) The owner delivers it or transfers its possession or ownership to another as a result of fraud. (2) The o…
La. Rev. Stat. § 37:1806 Inspection; license; reprimand, suspension, revocation, surrender
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§1806. Inspection; license; reprimand, suspension, revocation, surrender A. The commissioner may, upon written notice, reprimand the licensee or suspend, or revoke any license. The notice required by this Subsection shall state the contemplated action, and the grounds therefor an…
La. Rev. Stat. § 37:1806.1 Guidance by commissioner; advisory opinions
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§1806.1. Guidance by commissioner; advisory opinions A. The commissioner may issue advisory opinions and guidelines clarifying the rights and responsibilities of all persons, public or private, pursuant to this Part. B. Advisory opinions and interpretations of the office shall no…
La. Rev. Stat. § 37:1807 Injunctions; cease and desist orders; penalties
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§1807. Injunctions; cease and desist orders; penalties A. When the commissioner has reasonable cause to believe that a person has engaged in or is engaging in any act or practice violative of this Part, the commissioner, in addition to and without prejudice to the authority provi…
La. Rev. Stat. § 37:1808 Acting as pawnbroker without complying with law; violations by pawnbroker; penalties
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§1808. Acting as pawnbroker without complying with law; violations by pawnbroker; penalties A. Any person who engages in the business of operating a pawnshop or who advertises in any media or by any means that he is a pawnbroker without first securing the license prescribed by th…
La. Rev. Stat. § 37:1861 "Secondhand dealer" defined
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§1861. "Secondhand dealer" defined A.(1) Every person in this state engaged in the business of buying, selling, trading in, or otherwise acquiring or disposing of junk or used or secondhand property, including but not limited to jewelry, silverware, diamonds, precious metals, fer…
La. Rev. Stat. § 37:1861.1 Secondhand property; purchase when forbidden
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§1861.1. Secondhand property; purchase when forbidden No person shall willfully or knowingly purchase junk or used or secondhand property, unpaid for by the seller, or not owned by the seller. Acts 2011, No. 389, §1.
La. Rev. Stat. § 37:1861.2 Location of business limited
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§1861.2. Location of business limited A. No license shall be granted for the operation of a secondhand dealer facility which will be situated within three hundred feet or less of any official gaming establishment or designated docking facility of a riverboat licensed to conduct g…
La. Rev. Stat. § 37:1862 License required; application; bond; exemptions
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§1862. License required; application; bond; exemptions A. No person shall do business as a secondhand dealer in this state without having first obtained the occupational license required by law. Any person desiring a license as secondhand dealer shall make application in writing,…
La. Rev. Stat. § 37:1862.1 Record and reporting requirements; application
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§1862.1. Record and reporting requirements; application The provisions of R.S. 37:1864, 1864.1, 1864.3, 1865, and 1866 shall not apply to a person operating as a secondhand dealer pursuant to R.S. 37:1785. Persons operating as secondhand dealers pursuant to R.S. 37:1785 shall be …
La. Rev. Stat. § 37:1863 Change in location to be noted on license
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§1863. Change in location to be noted on license If after issuance and delivery of a license under the provisions of this Part any change is made in the location of the place of business designated therein, the business shall not be conducted at the new location or under such lic…
La. Rev. Stat. § 37:1864 Record of secondhand goods or objects purchased required; exceptions; retention
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§1864. Record of secondhand goods or objects purchased required; exceptions; retention period; inspections by law enforcement; violations; penalty A.(1) Every individual, firm, corporation, entity, or partnership, except municipalities, political subdivisions, and public utility …
La. Rev. Stat. § 37:1864.1 Photographic and other records; exceptions
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§1864.1. Photographic and other records; exceptions A.(1) In addition to the information required in R.S. 37:1864, every secondhand dealer shall obtain a photograph of a person selling or delivering merchandise or articles to the dealer if the fair market value of the merchandise…
La. Rev. Stat. § 37:1864.2 Purchase of precious metals and stones from minors; purchase of junk from minors prohibited; penalty
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§1864.2. Purchase of precious metals and stones from minors; purchase of junk from minors prohibited; penalty A. No secondhand dealer shall purchase gold, silver, copper, brass, aluminum other than in the form of cans, or other precious metals, jewelry, precious stones, or object…
La. Rev. Stat. § 37:1864.3 Payment by check for copper, aluminum-copper air conditioning coils, or other
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§1864.3. Payment by check for copper, aluminum-copper air conditioning coils, or other metals required; check cashing prohibited; penalties A.(1) A secondhand dealer shall not enter into any cash transactions in payment for the purchase of copper or aluminum-copper air conditioni…
La. Rev. Stat. § 37:1864.4 Statement by seller required; failure to exact statement evidence of fraudulent intent; exoneration from criminal knowledge
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§1864.4. Statement by seller required; failure to exact statement evidence of fraudulent intent; exoneration from criminal knowledge A.(1) Every secondhand dealer shall obtain a signed statement from the seller that the junk or used or secondhand property has been paid for or is …
La. Rev. Stat. § 37:1865 Book to be open for inspection
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§1865. Book to be open for inspection The book containing the record of purchase as provided for in R.S. 37:1864 and the various articles purchased and referred to therein shall at all times be open to the inspection of law enforcement officers of the Office of State Police, or t…
La. Rev. Stat. § 37:1866 Daily report of entries
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§1866. Daily report of entries A.(1) Every secondhand dealer licensed under the provisions of this Part shall make out and deliver to the chief of police of the city or town or to the sheriff of the parish in which he is doing business, every day before the hour of twelve noon, a…
La. Rev. Stat. § 37:1867 Disposal or changing identity prohibited during thirty-day period; exceptions
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§1867. Disposal or changing identity prohibited during thirty-day period; exceptions A. No secondhand dealer shall sell or dispose of or change or destroy the identity of any goods, articles, or things purchased by him before an interval of thirty calendar days from the date of p…
La. Rev. Stat. § 37:1868 Hours of business
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§1868. Hours of business A second-hand dealer shall neither open his place of business before the hour of 7 o'clock a.m. nor keep it open after the hour of 7 o'clock p.m. except on Saturdays and during the month of December, during which time the hour of 7 o'clock p.m. shall be e…
La. Rev. Stat. § 37:1869 Violations; penalty
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§1869. Violations; penalty A. Any licensed secondhand dealer who violates, neglects, or refuses to comply with any provision of this Part shall be fined not less than two thousand five hundred dollars nor more than five thousand dollars or be imprisoned for not less than thirty d…
La. Rev. Stat. § 37:1869.1 Prohibitions; sale of certain uniforms
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§1869.1. Prohibitions; sale of certain uniforms No secondhand dealer, including those secondhand dealers exempted by R.S. 37:1861(B) shall sell or offer for sale any article of clothing, including but not limited to hats, shirts, pants, or jackets, which exhibits or displays the …
La. Rev. Stat. § 37:1870 Failure to comply; penalty
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§1870. Failure to comply; penalty A. Anyone acting as an unlicensed secondhand dealer without complying with the provisions of this Part shall be fined not less than two thousand five hundred dollars nor more than five thousand dollars or be imprisoned with or without hard labor …
La. Rev. Stat. § 37:1871 Definitions
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§1871. Definitions The following words, terms and phrases, when used in this Part, shall have the meanings ascribed to them in this Section, except where the context clearly indicates a different meaning and shall only be applicable to a parish with a population in excess of two …
La. Rev. Stat. § 37:1872 Purchases not to be made from certain classes of persons
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§1872. Purchases not to be made from certain classes of persons It shall be unlawful for any antique dealer, owner, keeper, or agent of any antique shop to buy or exchange any article covered by this Part from any minor under the age of eighteen years, from a person appearing to …
La. Rev. Stat. § 37:1873 Duty to notify police when article tendered is believed stolen
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§1873. Duty to notify police when article tendered is believed stolen If any person shall tender for sale or exchange any article covered by this Part to an antique dealer, owner, keeper, or agent of any antique shop, and such person has good reason to believe that such article w…
La. Rev. Stat. § 37:1874 Reports required
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§1874. Reports required A. Every antique dealer shall be required to deliver an originally signed report to the chief of police of the municipality or the sheriff of the parish in which the dealer is located, as appropriate, on a form provided by the police department or sheriff'…
