16-716

Chapter 16.--CONTRACTS AND PROMISES
Article 7.--REGULATION OF PAWNBROKERS AND PRECIOUS METAL DEALERS

      16-716.   Record of transactions.(a) At the time of making a loan, a pawnbroker shall enter in a book keptfor that purpose:

      (1)   The date, duration, amount and charges ofevery 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 identificationnumber of the pledgor.

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

      (1)   The date of the purchase;

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

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

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

      History:   L. 1972, ch. 51, § 11; L. 1981, ch. 91, § 6; July 1.