§ 3861. Pawnbroker defined The word “pawnbroker” as used in this chapter includes any person, partnership, or corporation, loaning money on deposit or pledge of personal property, other than securities or written evidences of indebtedness; or doing business as furniture storage warehousepersons, and loaning and advancing money upon goods, wares, or merchandise pledged or deposited […]
§ 3862. License required (a) A person shall not carry on the business of pawnbroker unless he or she has obtained a license so to do as provided in this section. (b) The selectboard members of a town or the aldermen of a city may grant to such citizens as they deem proper, and who […]
§ 3863. Fees; bond; revocation of license A person receiving such license shall pay therefor the sum of $15.00 annually for the use of the town. Such license shall expire one year from the date thereof, and may be renewed on payment of the same sum. At the time of receiving such license, a licensee […]
§ 3864. Action on bond If a person is aggrieved by the misconduct of such licensed pawnbroker, and recovers judgment against him or her therefor, after the return, unsatisfied, either in whole or in part, of an execution issued upon such judgment, such person may maintain an action in his or her own name upon […]
§ 3865. Records of a pawnbroker (a) In each year a pawnbroker makes loans or advances totaling over $2,500.00 for items pledged or deposited with the pawnbroker, he or she shall maintain the following records for each transaction in that year: (1) a legible statement written at the time of the transaction stating the amount […]
§ 3866. Issuance of pawn ticket; lost tickets At the time of making a loan, a pawnbroker shall deliver to the person pawning or pledging any goods, articles, or things a memorandum or note signed by him or her containing the substance of the entry required to be made in his or her book by […]
§ 3867. Rate of interest on loans A pawnbroker shall not demand or receive a greater rate of interest than five percent per month or fraction of a month upon a loan not exceeding the sum of $50.00, nor more than three percent per month upon a loan exceeding the sum of $50.00; provided a […]
§ 3868. Sale of pawned property A pawnbroker shall not sell pawned or pledged property until the same has remained six months in his or her possession without redemption, and upon such sale, shall keep a record of the date of such sale, the name and address of the purchaser, and the price paid, and […]
§ 3869. Application of proceeds of sale Surplus money, if any, arising from such sale, after deducting the amount of the loan and the interest then due on the same, shall be paid over after three months by the pawnbroker to the person who would be entitled to redeem the pledge in case such sale […]
§ 3870. Pawning property of persons under eighteen A person carrying on the business of pawnbroker in this State shall not accept a pledge or article of personal property offered by a person under 18 years of age without written authority of the parents or guardians of such minor.
§ 3871. Penalties (a) A licensee who violates a provision of sections 3863-3864 or 3866-3870 of this title shall be fined not more than $100.00 nor less than $10.00 for each offense. (b) A pawnbroker or precious metal dealer who violates a provision of section 3865 or 3872 of this chapter: (1) may be assessed […]
