Title 45, Banks And Financial Institutions

(1) As used in this part, unless the context otherwise requires:(1) “Dealer and trader” means a person who holds a current certificate of registration with the department of revenue pursuant to title 67, chapter 6, part 6;(2) “Maturity date of pawn transaction” means the date the…

(a) A pawnbroker licensed pursuant to this part has the power to:(1) Make loans on the security of pledged goods as a pawn or pawn transaction;(2) Purchase tangible personal property under a buy-sell agreement from individuals as a pawn or pawn transaction on the condition it may…

It is unlawful for any person, firm, or corporation to establish or conduct a business of pawnbroking unless the person, firm, or corporation has first procured a license to conduct the business in the manner and form as provided in this part.

(a) To be eligible for a pawnbroker's license, an applicant must:(1) Be of good moral character;(2) Have net assets, as defined herein, of at least seventy-five thousand dollars ($75,000), readily available for use exclusively in conducting the business of each licensed pawnbroke…

(a) Every person, firm or corporation desiring to engage in the business of pawnbroker shall petition the county clerk in the county in which the pawnbroker establishment is to be operated for a license to conduct the business. (b) The petitions shall provide:(1) The name of the …

Every person, firm, or corporation having satisfied the provisions of § 45-6-206 and having paid the business tax and any other taxes as provided by law, and having produced to the county clerk satisfactory evidence of good character as to being a suitable person or persons to ca…

(a) Every pawnbroker shall keep a consecutively numbered record of each and every pawn transaction, which shall correspond in all essential particulars to the detachable pawn ticket attached. The consecutive numbering process for pawnbroker transactions dealing with over-the-coun…

In connection with and for a pawn or pawn transaction, no pawnbroker shall demand and receive a rate of interest greater than two percent (2%) per month of the amount of the loan advance under the pawn or pawn transaction, and no other charge of any description, for any purpose w…

(a) In every pawn transaction made under a loan of money pawn transaction as defined in this part, the pawnbroker shall retain in the pawnbroker's possession the pledged goods for thirty (30) days after the maturity date of the pawn transaction. Pledged goods not redeemed by the …

(1) A pawnbroker shall not:(1) Accept a pledge or purchase property from a person under eighteen (18) years of age, nor accept a pledge from anyone who appears intoxicated, nor from any person known to the pawnbroker to be a thief, or to have been convicted of larceny, burglary o…

(a) When any person sells property to a pawnbroker or pledges property as security for a loan, the pawnbroker shall obtain and record the information provided for in § 45-6-209(b)(6) and obtain a statement of the pledgor that the pledgor is the lawful owner of the item, as provid…

Except as otherwise provided by this part, any person presenting a pawn ticket to the pawnbroker may be presumed to be entitled to redeem the pledged goods described in the pawn ticket.

Every pawnbroker licensed under this part shall provide a safe place for the keeping of the pledges provided by the pawnbroker, and shall have sufficient insurance coverage on the property held on the pledge for the benefit of the pledgor, to pay the stated value as recited on th…

Upon request from any law enforcement agency, whether city, county, or state, a pawnbroker shall furnish the names of all suppliers from whom the pawnbroker has purchased merchandise for resale. This information is not to be recorded nor sent to any law enforcement agency but sha…

Every licensee under this part shall cause the name of the pawnbroker, firm or corporation, with the words, “Licensed Pawnbroker” to be printed or painted, in large, legible characters, and placed over the outside of the door or entrance of the shop, office, or place of business.

(a) Every person, firm or corporation, or agents or employees thereof, who knowingly violates any of this part, on conviction, commits a Class A misdemeanor. If the violation is by an owner or major stockholder and/or managing partner of the pawnshop, and the violation is knowing…

(a) (1) Counties, incorporated municipalities, cities and taxing districts in this state have the authority by ordinance to adopt provisions of this part and have the authority to adopt further rules and regulations that the legislative bodies of the counties, incorporated munici…

(a) Notwithstanding any provision of this part to the contrary, the license of any person, firm, or corporation licensed as a pawnbroker on July 1, 1988, shall continue in force until the natural expiration thereof, and all other provisions of this part shall apply to the license…

(a) Each licensed pawnbroker shall have a computer system in operation, if so requested by the appropriate law enforcement agency, that is capable of electronically transferring information, and shall electronically transfer the information in text file format on pledged goods to…

(a) The following procedure shall be employed when a law enforcement officer, as defined in § 39-11-106, seeks to obtain a subpoena for the production of a thumbprint taken and maintained pursuant to § 45-6-209(b)(7) for the purpose of establishing, investigating or gathering evi…

(a) No law enforcement officer or agency shall use any thumb or other print obtained pursuant to § 45-6-222 for the purpose of racial profiling. (b) (1) Any person residing within the jurisdiction of the law enforcement officer or agency alleged to have violated this section may …

(a) All pawnshops that are required to take and maintain thumb or other prints pursuant to § 45-6-209(b)(7) shall be required to place a sign at least ten inches by fourteen inches (10″ X 14″) in a prominent location reasonably close in proximity to the place where the pawn trans…