325J.01 DEFINITIONS. Subdivision 1. Scope. As used in this chapter, the following terms have the meanings given them unless the context clearly indicates otherwise. Subd. 2. Appropriate law enforcement agency. “Appropriate law enforcement agency” means the attorney general of the state of Minnesota, the sheriff of each county in which a pawnbroker maintains an office, […]
325J.02 MUNICIPAL LICENSING AND REGULATION. (a) For the purpose of promoting the public health, safety, morals, and welfare, a municipality may adopt an ordinance, issue licenses to qualified applicants, and regulate pawn transactions. Ordinances must contain the minimum provisions of this chapter. (b) A person may not engage in business as a pawnbroker or otherwise […]
325J.03 LICENSEE ELIGIBILITY. (a) To be eligible for or to maintain a pawnbroker license, a person must operate lawfully and fairly within the purposes of this chapter and the applicable local ordinance and: (1) may not be a minor at the time that the application for a pawnbroker’s license is filed; (2) may not have […]
325J.04 PAWN TICKETS. Subdivision 1. Entries of pawn tickets. At the time of making the pawn or purchase transaction, the pawnbroker shall immediately and legibly record in English the following information by using ink or other indelible medium on forms or in a computerized record approved by the municipality: (1) a complete and accurate description […]
325J.05 RECORDS; RETENTION. (a) The pledgor or seller shall sign a pawn ticket and receive an exact copy of the pawn ticket. (b) The pawnbroker shall maintain on the premises a record of all transactions of pledged or purchased goods for a period of three years. These records shall be a correct copy of the […]
325J.06 EFFECT OF NONREDEMPTION. (a) A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within at least 60 days of the date of the pawn transaction shall automatically be forfeited to the pawnbroker, and qualified right, title, and interest in and to […]
325J.07 PERMITTED CHARGES. (a) Notwithstanding any other statute, ordinance, rule, regulation, or section 325J.13, a pawnbroker may contract for and receive a pawnshop charge not to exceed three percent per month of the principal amount advanced in the pawn transaction plus a reasonable fee for storage and services. A fee for storage and services may […]
325J.08 RECORDS; PROHIBITIONS. A pawnbroker and any clerk, agent, or employee of a pawnbroker shall not: (1) make any false entry in the records of pawn transactions; (2) falsify, obliterate, destroy, or remove from the place of business the records, books, or accounts relating to the licensee’s pawn transactions; (3) refuse to allow the appropriate […]
325J.09 REDEMPTION; RISK OF LOSS. Any person to whom the receipt for pledged goods was issued, or any person identified in a written and notarized authorization to redeem the pledged goods identified in the receipt, or any person identified in writing by the pledgor at the time of the initial transaction and signed by the […]
325J.095 MOTOR VEHICLE TITLE PAWN TRANSACTIONS; SPECIAL PROVISIONS. (a) In addition to the other requirements of this chapter, a pawnbroker who holds a title to a motor vehicle as part of a pawn transaction shall: (1) be licensed as a used motor vehicle dealer under section 168.27, and post such license on the pawnshop premises; […]
325J.11 VIOLATION. A violation of this chapter by a pawnbroker or pledgor is a misdemeanor. History: 1996 c 404 s 12
325J.12 TRANSITION. (a) Pawnbrokers that are in business when a municipality adopts an ordinance under this chapter must apply for a license and pay the required fee within six months of adoption of the ordinance. (b) A county that has adopted an ordinance under Minnesota Statutes 1994, sections 471.924 to 471.927, must conform the ordinance […]
325J.13 ORDINANCES; CONSISTENCY. With the exception of section 325J.08, clauses (7) and (10), nothing in this chapter preempts or supersedes any ordinance adopted by a municipality that provides for more restrictive regulation of pawnbrokers or pawn transactions. History: 1996 c 404 s 14; 2011 c 82 s 2
