10.06 - Pawnbroker License - Laserfiche WebLink

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i valid Minnesota identification card; or current valid photo identification card issued by another state or a province of Canada. e) Description of the pledgor including approximate height, sex, and race. f) Amount advanced or paid. g) Maturity date of the pawn transaction and the amount due. h) The monthly and annual interest rates, including all pawn fees and charges. Subd. 2. Pawn Ticket. The following shall be printed on all pawn tickets: 1. The name, street address, mailing address, if different from the street address, and phone number of the pawnbroker. 2. The statement that "Any personal property pledged to a pawnbroker within this state is subject to sale or disposal when there has been no payment on the account for a period of not less than 60 days past the date of the pawn transaction,renewal, or extension; no further notice is necessary. There is no obligation for the pledgor to redeem pledged goods." 3. The statement that "The pledgor of this item attests that it is not stolen, it has no liens or encumbrances against it, and the pledgor has the fight to sell or pawn the item." 4. The statement that"This item is redeemable only by the pledgor to whom the receipt was issued, or any person identified in a written and notarized authorization to redeem the property identified in the receipt, or a person identified in writing by the pledgor at the time of the initial transaction and signed by the pledgor. Written authorization for release of property to persons other than the original pledgor must be maintained along with the original transaction records." 5. A blank line for the pledgor's signature. 6. The pledgor shall sign the pawn ticket and receive an exact copy of the same. SECTION 6 9 RECORDS,RETENTION A pawnbroker shall maintain on the premises a record of all transactions of pledged or purchased goods for a period of three years. These records shall be a correct copy of the entries made of the pawn transactions. A pawnbroker shall upon request provide to the appropriate law enforcement agency a complete record of any pawn items. SECTION-7 400 RECORDS,PROHIBITIONS A pawnbroker and any clerk, agent or employee of a pawnbroker shall not: 1. Make any false entry in the records of pawn transactions. 2. Falsify, obliterate, destroy, or remove from the place of business the records,books, or accounts relating to the licensee's pawn transactions. Page 5