§ 45-6-203. Part Definitions
As used in this part, unless the context otherwise requires: “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; “Maturity date of pawn transaction” means the date the pawn transaction is due to be paid, which date shall […]
§ 45-6-204. Authority of Licensed Pawnbrokers
A pawnbroker licensed pursuant to this part has the power to: Make loans on the security of pledged goods as a pawn or pawn transaction; Purchase tangible personal property under a buy-sell agreement from individuals as a pawn or pawn transaction on the condition it may be redeemed or repurchased by the seller at a […]
§ 45-6-205. License Required
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.
§ 45-6-206. Eligibility Requirements for License
To be eligible for a pawnbroker’s license, an applicant must: Be of good moral character; 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 pawnbroker; Show that the business will be operated lawfully and fairly within the purpose of […]
§ 45-6-207. Petition for License — Fee for Investigation
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. The petitions shall provide: The name of the person, and in case of a firm or corporation, the […]
§ 45-6-208. Granting of License — Transfer — Fee
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 carry on the business of pawnbroker, shall be […]
§ 45-6-101. Short Title
This part shall be known and may be cited as the “Pawnbroker Restitution Act”.