(a) Definition. In this title, "pawnbroker" means a person who loans money on deposits or pledges of personal property other than securities or printed evidences of indebtedness or who deals in the purchasing of personal property on the condition of selling it back to the same person or someone acting on that person's behalf at a stipulated price.
(b) License required. A person may not do business as a pawnbroker without a license issued by the Department.
(c) Standards. No person required to obtain a pawnbroker's license may have:
(1) ever been convicted, held liable, or found to have committed acts involving moral turpitude, including any violation of federal, state, or local law or regulation;
(2) ever had a judgment entered in an action for fraud, deceit, or misrepresentation by any court of competent jurisdiction;
(3) associations with individuals known to have engaged in organized crime or racketeering;
(4) a financial relationship with any person known to have engaged in organized crime or racketeering;
(5) had direct managerial or supervisory control over an enterprise in which there was a pattern of cheating, fraud, or employee dishonesty; or
(6) engaged in any other conduct that the Director determines to be a threat to the integrity of pawnbrokering.
(d) Fee. The fee for a pawnbroker's license for the first individual licensed to work at a pawnshop is $250. The fee for each additional individual licensed at the same pawnshop is $50.
(e) Insurance. A person who acts as a pawnbroker may not undertake to do any work within the County unless the person carries general liability insurance in the amount of $300,000 and property damage insurance in the amount of $100,000.
(f) Contents of license. A license shall designate the address where the licensee is authorized to act as a pawnbroker.
(g) Expiration. A pawnbroker's license expires on April 30 of each year.
(h) Revocation. A violation of this title is cause for revocation of a pawnbroker's license.
(1985 Code, Art. 16, §§ 13-101, 13-102, 13-104, 13-106, 13-107, 13-108) (Bill No. 13-89; Bill No. 46-92; Bill No. 55-97)
State Code reference – Business Regulation Article, Title 12.