Title 45, Title 45: PROFESSIONS AND OCCUPATIONS

45:22-13. Pawnbroker's records; details of Every pawnbroker shall keep a book in which shall be recorded, in ink, at the time of making each loan, the name and address of the pledgor, or, where a pledge is made by a person acting as agent for a disclosed principal, the names and …

45:22-14. Pawnbroker to keep identification cards The pawnbroker shall at the time of making a loan require the pledgor or his agent to write his signature and address on a card bearing the serial number of the loan corresponding to that recorded in the pawnbroker's book, as prov…

45:22-15. Pledgor's ticket; contents The pawnbroker shall, at such time, deliver to the pledgor or his agent a memorandum or ticket on which shall be legibly written or printed the name of the pledgor; the name of the pawnbroker and the place where the pledge is made; the article…

45:22-16. Redemption by holder of ticket Except as otherwise herein provided, the holder of such ticket shall be presumed to be the person entitled to redeem the pledge, and the pawnbroker shall deliver the pledge to the person presenting the ticket upon payment of principal and …

45:22-17. Redemption by mail or express; if sum insufficient When a ticket, instead of being presented in person, is sent to the pawnbroker by mail or express, accompanied with a money order or bank draft for the amount due, including the charges for shipment as desired, and twen…

45:22-18. Payment by installments Upon the presentation of the ticket, and the tender of not less than five dollars as an installment on the principal together with accrued interest, the pawnbroker shall accept the same and issue a new ticket for the reduced amount.

45:22-19. Lost or destroyed ticket; new ticket on affidavit If the ticket be lost, destroyed or stolen, the pledgor shall so notify the pawnbroker in writing. The receipt of such notice shall be treated by the pawnbroker as a stop against the loan, and thereafter the provisions o…

45:22-2. License required No person shall engage or continue in business as a pawnbroker except as authorized by this article, and without first obtaining a license from the commissioner of banking and insurance. No person other than a licensee under this article shall display an…

45:22-20. Alteration of ticket; not to affect liability The alteration of a ticket shall not excuse the pawnbroker who issued it from liability to deliver the pledge according to the terms of the ticket as originally issued, but shall relieve him of any other liability to the ple…

45:22-21. Spurious tickets If a ticket is presented to a pawnbroker which purports to be one issued by him, but which is found to be spurious, the pawnbroker may seize and retain same without any liability whatsoever to the holder thereof. Any such tickets so seized shall be deli…

45:22-22 Interest chargeable; exceptions. 45:22-22. Notwithstanding the provisions of N.J.S.2C:21-19 to the contrary, a pawnbroker shall not charge or receive interest on a loan in excess of 4.5% per month or a fraction thereof, except that he may charge $1.50 where the interest …

45:22-23. Receipts on redemption, renewal or reduction of loan A pawnbroker when requested for a receipt at the time of redemption, renewal or reduction of a loan, shall furnish to the person redeeming, renewing or reducing the loan, a receipt setting forth the name of the pawnbr…

45:22-24. Pawnbroker's liability; degree of care required; burden of proof A pawnbroker shall be liable for the loss of a pledge or part thereof, or for injury thereto, whether caused by fire, theft, burglary or otherwise, resulting from his failure to exercise reasonable care in…

45:22-25 Period of redemption; sale of unredeemed pledges. 45:22-25. All unredeemed pledges shall be sold at public auction or private sale, but not before the expiration of twelve months from the date of the loan, unless otherwise agreed in writing between the pawnbroker and the…

45:22-26 Sale by auction or private sale; notice of proposed sale. 45:22-26. All unredeemed pledges shall be sold at public auction or private sale, but not before a notice in writing shall have first been mailed subsequent to the date of maturity of the loan, to the last known a…

45:22-27 Disposition of proceeds, surplus. 45:22-27. The proceeds of such sale by public auction or private sale shall be applied for the purposes and in the order here specified; auctioneer's charges, if any; principal and interest of the loan; and a proportionate share of the e…

45:22-28. Surplus belongs to pawnbroker after five years If a surplus be not paid or claimed within five years from the date on which it accrued, it shall revert to the pawnbroker for his own use and benefit. Interest on unpaid surplus, at the rate of six per cent per annum, shal…

45:22-29. Pledge delivered on surrender of ticket or ticket impounded Except as otherwise provided in this article, a pawnbroker shall not be required, by legal process or otherwise, to deliver a pledge except upon surrender of the ticket, unless the ticket be impounded or its ne…

45:22-3 Application for license; contents, criminal history record background check. Application for such license shall be in writing and shall state the full name and place of residence of the applicant, or, if the applicant be a partnership, of each member thereof, or, if the a…

45:22-30. If rival claimants; interpleading parties in actions against pawnbroker If more than one person shall claim the right to redeem a pledge, the pawnbroker shall incur no liability for refusing to deliver the pledge until the respective rights of the claimants shall have b…

45:22-31. Pawnbrowker not to accept pledge for persons under 16 45:22-31. A pawnbroker shall not: a. Accept a pledge from any person who is under the age of sixteen years. b. (Deleted by amendment, P.L.2001, c.388.) Amended 2001, c.388, s.6.

45:22-32. Violations of article misdemeanors Any person who shall violate any of the provisions of this article shall be guilty of a misdemeanor, punishable by a fine of not less than one hundred dollars, nor more than five hundred dollars.

45:22-33. Affidavit of ownership of mechanic's tools pledged or pawned No pawnbroker, his agent or attorney, shall receive, by way of pledge or pawn, from any person any mechanic's tools used in the erection, addition or alteration of any building or structure, unless said person…

45:22-34. Daily report to police of pledges and redemptions; penalty All pawnbrokers or dealers in secondhand goods, in addition to keeping a proper record of the deposit and redemption of all goods and pledges shall, each day, except Sunday, before eleven o'clock in the forenoon…

45:22-35. Marking "secondhand" watches Any person or persons, firm or firms, partnership or partnerships, association or associations, corporation or corporations, engaged in the business of buying or selling watches, or any agent or servant thereof, who may sell or exchange, or …

45:22-36. Special invoice required Any person or persons, firm or firms, partnership or partnerships, association or associations, corporation or corporations, engaged in the business of buying or selling watches, or any agent or servant thereof, who may sell a second-hand watch …

45:22-37. Advertising "secondhand" watches Any person or persons, firm or firms, partnership or partnerships, association or associations, corporation or corporations, or any agent or servant thereof, who may advertise or display in any manner a second-hand watch for sale or exch…

45:22-38. Definition of "secondhand" watch A watch shall be deemed to be second-hand if (a) It as a whole or the case thereof or the movement thereof has been previously sold to or acquired by any person who bought or acquired the same for his use or the use of another, but not f…

45:22-39. Penalty Any person or persons, firm or firms, partnership or partnerships, association or associations, corporation or corporations, or any agent or servant thereof, who shall violate any of the provisions of this act shall be guilty of a misdemeanor and shall be punish…

45:22-4 License; issuance, term. 45:22-4. Upon application to the Commissioner of Banking and Insurance, such official may in his discretion issue to the applicant upon the filing of a bond as hereinafter provided, a license to do business in this State. The license shall not be …

45:22-40. Pawnbroker's auction sales excepted The provisions of this act shall not apply to pawnbroker's auction sales or unredeemed pledges. L.1939, c. 55, p. 82, s. 6.

45:22-5. Pawnbroker must be insured Each pawnbroker licensed pursuant to the provisions of this article shall be required by the commissioner of banking and insurance to furnish proof that he is adequately covered by insurance, bond or cash surplus to cover any pledgor in the eve…

45:22-6. Disposition of license fees All license fees received by the commissioner of banking and insurance under this article shall be used for the use of the state.

45:22-7. Pawnbroker's bond; actions on Any applicant licensed pursuant to the provisions of this article shall file with the commissioner of banking and insurance, before commencing business, a bond in the sum of one thousand dollars, with one or more sufficient sureties to be ap…

45:22-8. Revocation of license The commissioner of banking and insurance may, upon notice to the licensee of five days, and after hearing, revoke any license issued under the provisions of this article for any violation of the provisions hereof or any of the regulations adopted p…

45:22-9. License must be conspicuously displayed The license so issued shall be kept conspicuously posted in the licensee's place of business and whenever the licensee shall change his place of business written notice thereof shall be given to the commissioner of banking and insu…