446.201 Pawnbrokers; license required; exception; internet drop-off store exempt from licensure. Sec. 1. (1) A person, corporation, or firm shall not conduct business as a pawnbroker in any of the governmental units of this state without having first obtained from the chief executive officer of that governmental unit a license under this act that authorizes […]
446.202 Licenses; issuance; contents; term; transferability; fee; bond; limitations. Sec. 2. (1) The chief executive officer of the governmental unit may grant under his or her hand, and the official seal of his or her office, to any suitable person, corporation, or firm a license authorizing that person, corporation, or firm to conduct the business […]
446.203 Definitions. Sec. 3. As used in this act: (a) “Chief executive officer” means any of the following: (i) For a city, the mayor. (ii) For a village, the village president. (iii) For a township or charter township, the township supervisor. (iv) For a county, the county executive or, if there is no county executive, […]
446.204 Licensed pawnbroker; action upon bond. Sec. 4. If any person shall be aggrieved by the conduct of any such licensed pawnbroker, and shall recover judgment against him therefor, such person may, after the return unsatisfied, either in whole or in part, of any execution issued upon said judgment, maintain an action in his own […]
446.205 Record of property received; contents; inspection; form of permanent record. Sec. 5. (1) A pawnbroker shall keep a record in English, at the time the pawnbroker receives any article of personal property or other valuable thing by way of pawn, that includes a description of the article, a sequential transaction number, any amount of […]
446.206 Statement to police of articles received; contents. Sec. 6. A pawnbroker shall make daily, except Sunday, a sworn statement of his or her transactions, describing the articles received, and setting forth the name, residence, and description of the person from whom the articles were received, to the chief of police or chief law enforcement […]
446.207 Repealed. 1980, Act 199, Imd. Eff. July 10, 1980. Compiler’s Notes: The repealed section pertained to the right of a pawnbroker to deal in secondhand property.
446.208 Purchaser’s memorandum of pawn; contents. Sec. 8. A pawnbroker, at the time of a loan, shall deliver to the person pawning or pledging any article a memorandum or note signed by him or her, containing the substance of the entry required to be made by him or her in his or her book by […]
446.209 Interest on loans; rate; storage charge; time of payment; computation; fee or excess charge prohibited. Sec. 9. (1) A licensed pawnbroker may charge on any loan a rate of interest that does not exceed 3% per month and is not required to accept any interest less than 50 cents on a single loan. A […]
446.210 Title to item; sale of pledged or pawned item; time of possession. Sec. 10. (1) Subject to section 12, title to an item that is pledged or pawned vests in the pawnbroker 90 days after the pledge or pawn, or after the expiration of any longer period agreed to by the parties, if the […]
446.211 Payment or tender of debt before sale; effect as to title and right to property; agreement to permit pawner to maintain possession. Sec. 11. (1) If at any time before the sale of the item pledged or pawned the borrower pays or tenders to the pawnbroker the debt and interest and charges on the […]
446.212 Misappropriated property; effect of written hold order; delivery of property to person claiming ownership; return of property to pawnbroker; liability; “appropriate law enforcement official” defined. Sec. 12. (1) If an appropriate law enforcement official has probable cause to believe that property in the possession of a pawnbroker is misappropriated, or if a person files […]
446.213 Pawned property; destruction or defacing unlawful; visibility of serial number or insignia. Sec. 13. (1) A pawnbroker shall not deface, scratch, obliterate, melt, separate, or break into parts any article or thing received by him or her in pawn, or otherwise or in any manner do, cause, or suffer to be done by others, […]
446.214 Pawned property; acceptance from certain persons prohibited. Sec. 14. A pawnbroker shall not receive for pawn any article from any person under 18 years of age or a person the pawnbroker suspects as having stolen the article to be pawned. History: 1917, Act 273, Eff. Aug. 10, 1917 ;– CL 1929, 9697 ;– CL […]
446.216 Bond of complainant; amount, surety. Sec. 16. The said bond shall be in double the value of the property claimed, with such surety as such court shall approve, and shall be given to the person from whose possession the property was taken, with condition that the obliger so claiming the same will pay all […]
446.217 Transaction of business on Sunday unlawful. Sec. 17. No license granted under the provisions of this act shall authorize any business to be transacted by pawnbrokers on the first day of the week commonly called Sunday. History: 1917, Act 273, Eff. Aug. 10, 1917 ;– CL 1929, 9700 ;– CL 1948, 446.217
446.218 Violation of act; penalty. Sec. 18. Any person who shall violate any of the provisions of this act, whether as owner, or as clerk, agent, servant or employe, shall be guilty of a misdemeanor and upon conviction thereof in any court of competent jurisdiction be fined not less than 25 dollars nor more than […]
446.219 Violation of act; revocation of license; duration. Sec. 19. Upon a conviction of any person conducting business as a pawnbroker under this act, or on conviction of any clerk, agent, servant, or employee of the person, the chief executive officer of the governmental unit shall revoke the license of the person and no part […]
