§ 66-393 – Pawnbroker fees; interest rates.
66-393. Pawnbroker fees; interest rates. No pawnbroker shall demand or receive an effective rate of interest greater than two percent (2%) per month, and no other charge of any description or for any purpose shall be made by the pawnbroker, except that the pawnbroker may charge, contract for, and recover an additional monthly fee for […]
§ 66-394 – Pawnbroker transactions.
66-394. Pawnbroker transactions. In every pawn transaction: (1) The original pawn contract shall have a maturity date of not less than 30 days, provided that nothing herein shall prevent the pledgor from redeeming the property before the maturity date; (2) Any personal property pledged to a pawnbroker in this State is subject to sale or […]
§ 66-395 – Prohibitions.
66-395. Prohibitions. (a) A pawnbroker shall not: (1) Accept a pledge from a person under the age of 18 years. (2) Make any agreement requiring the personal liability of a pledgor in connection with a pawn transaction. (3) Accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under this […]
§ 66-396 – Penalties.
66-396. Penalties. (a) Every person, firm, or corporation, their guests or employees, who shall knowingly violate any of the provisions of this Part, shall, on conviction thereof, be deemed guilty of a Class 2 misdemeanor. If the violation is by an owner or major stockholder or managing partner of the pawnshop and the violation is […]
§ 66-397 – Municipal or county authority.
66-397. Municipal or county authority. All of the counties and cities as defined by G.S. 160A-1 may by ordinance adopt the provisions of this Part and may adopt such further rules and regulations as the governing bodies of the counties and cities deem appropriate; provided, however, no county or city may regulate: (1) Interest, fees, […]
§ 66-398 – License renewal.
66-398. License renewal. Notwithstanding any provision of this Part to the contrary, any person, firm, or corporation licensed as a pawnbroker on or before October 1, 1989, shall continue in force until the natural expiration thereof and all other provisions of this Part shall apply to such license. Such pawnbroker shall be eligible for renewal […]
§ 66-399 – Bond.
66-399. Bond. Every person, firm, or corporation licensed under this Part shall, at the time of receiving the license, file with the city or county issuing the license a bond payable to such city or county in the sum of five thousand dollars ($5,000), to be executed by the licensee, and by two responsible sureties […]
§ 66-405 – Legislative finding.
66-405. Legislative finding. The General Assembly finds and declares that precious metal businesses in North Carolina vitally affect the general economy of the State and the public interest and public welfare, and in the exercise of its police power, it is necessary to regulate such businesses, in order to prevent thefts, disposal of stolen property, […]
§ 66-406 – Definitions.
66-406. Definitions. The following definitions apply in this Part: (1) Dealer. – A person who purchases precious metals from the public, other than by an exempted transaction, in the form of jewelry, flatware, silver services, or other forms and holds himself or herself out to the public by signs, advertising, or other methods as engaging […]
§ 66-407 – Permits.
66-407. Permits. (a) Dealer Permit. – Except as provided in subsection (c) of this section, it is unlawful for any person to engage as a dealer in the business of purchasing precious metals either as a separate business or in connection with other business operations without first obtaining a permit for the business from the […]