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Senate Bill 0318

Senate Bill 0318

ARCHIVE (2001)

Latest Information

DIGEST OF SB318 (Updated April 9, 2001 6:06 PM - DI 84)

Regulation of pawnbrokers. Prohibits advertising by nonpawnbrokers that states or represents that the person or entity is a pawnbroker. Provides for daily calculation of a renewed pawnbroking loan finance charge. Allows pawnbroking transactions involving multiple similar items without identification numbers to use quantity of items and physical description as the item description. Requires a description of the identification used for verification of an individual in a pawnbroking transaction. Provides for a daily calculation of a pawnbroking monthly service fee. Shortens the length of time after which the pawnbroker may sell pawned property from 90 days to 60 days. Provides that pawnbroking transaction records are confidential, with exceptions for law enforcement disclosure of certain information.
    Current Status:
    Law Enacted
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