§ 66-385 – Short title.
66-385. Short title. This Part shall be known and may be cited as the Pawnbrokers and Cash Converters Modernization Act. (1989, c. 638, s. 2; 2011-325, s. 2; 2012-46, ss. 2, 4.)
§ 66-386 – Purpose.
66-386. Purpose. The making of pawn loans and the acquisition and disposition of tangible personal property by and through pawnshops and cash converters vitally affects the general economy of this State and the public interest and welfare of its citizens. In recognition of these facts, it is the policy of this State and the purpose […]
§ 66-387 – Definitions.
66-387. Definitions. The following definitions apply in this Part: (1) Cash. – Lawful currency of the United States. (2) Currency converter. – Either (i) a person engaged in the business of purchasing goods from the public for cash at a permanently located retail store or (ii) an itinerant merchant as defined in G.S. 66-250(1) who […]
§ 66-388 – Pawnbroker authority.
66-388. Pawnbroker authority. A pawnbroker licensee is authorized to: (i) make loans on pledges of tangible personal property, (ii) deal in bullion stocks, (iii) purchase merchandise for resale from dealers, traders, and wholesale suppliers and (iv) use its capital and funds in any lawful manner within the general scope and purpose of its creation. Notwithstanding […]
§ 66-389 – License required.
66-389. License required. It is unlawful for any person, firm, or corporation to establish or conduct a business of pawnbroker unless such person, firm, or corporation has procured a license to conduct business in compliance with the requirements of this Part. (1989, c. 638, s. 2; 2012-46, ss. 2, 7.)
§ 66-390 – Requirements for licensure.
66-390. Requirements for licensure. (a) To be eligible for a pawnbroker’s license, an applicant must: (1) Be of good moral character; and (2) Not have been convicted of a felony within the last 10 years. (b) Every person, firm or corporation desiring to engage in the business of pawnbroker shall petition the appropriate city or […]
§ 66-391 – Record-keeping requirements for pawnbrokers.
66-391. Record-keeping requirements for pawnbrokers. (a) Every pawnbroker shall keep consecutively numbered records of each and every pawn transaction, which shall correspond in all essential particulars to a detachable pawn ticket or copy thereof attached to the record. (b) The pawnbroker shall, at the time of making the pawn or purchase transaction, enter upon the […]
§ 66-392 – Record-keeping requirements for currency converters and e-buyers.
66-392. Record-keeping requirements for currency converters and e-buyers. (a) Every currency converter shall keep consecutively numbered records of each cash purchase. The currency converter shall, at the time of making the purchase, enter upon each record all of the following information, which shall be typed or written in ink and in the English language: (1) […]