An Act To Amend the Laws Governing Pawn Transactions
Sec. 1. 30-A MRSA §3962, sub-§1, as amended by PL 1995, c. 397, §14, is further amended to read:
A pawnbroker shall include in the pawnbroker's records a digital photograph of the property pawned or purchased. The pawnbroker shall allow the municipal officers to inspect these records at all reasonable times.
Sec. 2. 30-A MRSA §3962, sub-§3, as amended by PL 1993, c. 59, §2, is further amended to read:
Sec. 3. 30-A MRSA §3963, sub-§5-A is enacted to read:
Sec. 4. 30-A MRSA §3966 is enacted to read:
§ 3966. Holding period for purchased property
If a pawnbroker purchases tangible personal property without any condition of repurchase by the seller for a fixed price within a fixed period of time, the pawnbroker must retain the property and may not sell or alter the property for a period of not less than 60 days after the purchase.
summary
This bill:
1. Requires that pawnbrokers maintain in their records digital photographs of property pawned or purchased;
2. Requires that pawnbrokers file with the law enforcement agency of jurisdiction digital photographs of the properties pawned or purchased during the preceding calendar month;
3. Requires that, if the redemption or repurchase period is less than 30 days and the pawned property is not redeemed or repurchased by the consumer, a pawnbroker may not sell or alter the property until the property has remained in the pawnbroker's possession for 30 days after the expiration of the time for which it was pawned; and
4. Requires that if a pawnbroker purchases tangible personal property without any condition of repurchase by the seller for a fixed price within a fixed period of time, the pawnbroker must retain the property and may not sell or alter the property for a period of not less than 60 days after the purchase.