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 the provisions of this section, no pawnbroker has the authority enumerated in this section unless he has fully complied with the laws regulating the particular transactions involved.
N.C. Gen. Stat. § 66-388
Pawnbroker authority
Known as the Pawnbrokers and Currency Converters Modernization Act
The act spans §§ 66–66 (38 sections).
1989, c. 638, s. 2; 2012-46, s. 2.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.