44-1624. Pawn transactions; reportable transactions

368 words·~2 min read·/az/title-44/44-1624

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The length of all pawn transactions is a minimum of ninety days, except that a longer term may be contracted for between the pawnbroker and the pledgor.

B. A pawnbroker shall not enter into a pawn transaction or good faith outright purchase of tangible personal property with a person who is less than eighteen years of age.

C. A pawnbroker shall not enter into a pawn transaction or good faith outright purchase of tangible personal property that has a manufacturer's serial number that has been removed, altered or obliterated.

D. Before entering into a pawn transaction or good faith outright purchase of tangible personal property a pawnbroker shall require the pledgor or seller to identify himself with an identification document sufficient to verify the information required pursuant to section 44-1625.

E. A pawnbroker shall retain any pledged goods at the pawnbroker's place of business or any other storage location approved by the applicable local law enforcement agency.

F. The pawnbroker shall retain any property obtained by good faith outright purchase in its original form for twenty days after the original transaction date at the pawnbroker's place of business or other storage location approved by the applicable local law enforcement agency.

G. The pawnbroker shall maintain at the pawnbroker's place of business records of all reportable transactions and pawn tickets and shall retain the records for at least two years after the date when the transaction occurred. The pawnbroker shall ensure that the records include accurate copies of all transaction receipts or pawn tickets. On request by a local law enforcement agent in the course of the agent's duties, the pawnbroker shall allow the agent to inspect the pawnbroker's receipts, pawn tickets or required alcohol, tobacco and firearms logs or to review any article received by the pawnbroker by pledge, purchase or trade.

H. A pawnbroker shall produce the pawnbroker's register, shall exhibit all articles received by the pawnbroker in pledge or purchase or shall produce the pawnbroker's account of sales to a local law enforcement agency on the agency's request to inspect the register, articles or accounts of sales of the pawnbroker or on service of a search warrant or order issued by a judge or magistrate.