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2012 SESSION

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12103248D
SENATE BILL NO. 556 Offered January 16, 2012 A BILL to amend and reenact § 54.1-4012 of the Code of Virginia, relating to pawnbrokers; holding period for purchases. ---------- Patron-- Miller, Y.B. ---------- Referred to Committee on General Laws and Technology ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 54.1-4012 of the Code of Virginia is amended and reenacted as follows:

§ 54.1-4012. Property pawned or purchased not to be disfigured or changed.

A. No property received on deposit or pledged or purchased by any pawnbroker shall be disfigured or its identity destroyed or affected in any manner (i) so long as it continues in pawn or in the possession of the pawnbroker while in pawn or (ii) in an effort to obtain a serial number or other information for identification purposes.

B. The pawnbroker shall retain all purchased goods for a minimum of 15 calendar days from the date the goods were purchased. Until the expiration of the 15-day period, the pawnbroker shall not sell, alter, or dispose of a purchased item, in whole or in part, or remove it from the county, city, or town in which the purchase was made.