16-716. Record of transactions.

165 words·~1 min read·/ks/chapter-16/16-716

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

(a)At the time of making a loan, a pawnbroker shall enter in a book kept for that purpose:

(1)The date, duration, amount and charges of every loan made by the pawnbroker;

(2)a full and accurate description of the property pledged; and

(3)the name, age, residence and driver's license or other personal identification number of the pledgor.

(b)At the time of purchasing precious metal, a precious metal dealer shall enter in a book kept for that purpose:

(1)The date of the purchase;

(2)a full and accurate description of each item purchased, including any identifying letters, numbers or marks on the item; and

(3)the name, age, residence and driver's license or other personal identification number of the seller.

(c)The record required by this section shall be maintained by the pawnbroker or precious metal dealer at the pawnbroker's or dealer's place of business for not less than one year following the date of the transaction.