Pawnbrokers Act

The Pawnbrokers Act regulates the business of lending money against pledged personal property, conditioning operation on a permit issued under the act and requiring pawnbrokers to post a bond, meet application requirements, and pay an inspection fee. It prescribes the conduct of the business itself — the pawn ticket given to a customer, the service charge a pawnbroker may impose, the handling and disposition of pledged property upon default, and the records and reports a pawnbroker must keep and deliver — while barring specified practices. Enforcement runs through suspension or revocation of the permit after notice and hearing, along with penalties and forfeiture.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.