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1998 SESSION

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HB 769 Pawnbrokers; licensure.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Professions and occupations; pawnbrokers. Increases the penalty for unlicensed activity to a Class 1 misdemeanor. The bill also provides that a license shall not be issued to a person who has been convicted of a felony or a crime involving moral turpitude within the preceding 10 years and requires the pawnbroker to maintain a bond in the amount of $50,000. The bill also allows pawnbrokers to sell pawned or pledged items in the ordinary course of business. Currently, the law requires such sales to be done through public auction by a licensed auctioneer. The bill also deletes current requirements regarding notice of sale and requires the record of each transaction kept by the pawnbrokers to itemize all fees charged.


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