Alaska Statutes Title 08, Chapter 08.76, Article 02 - Licensing and Regulation of Pawnbrokers

• Sec. 08.76.100 Licensing Required.
  (a) A person may not engage in business as a pawnbroker without holding a license issued by the department.(b) A license is not transferable...
• Sec. 08.76.110 Requirements for License.
  The department may issue a license to a person if the person(1) has good character;(2) has the experience to engage in business as a...
• Sec. 08.76.130 Withdrawal of Application.
  The department may consider that a person has withdrawn the person's application for a license if(1) the application does not contain all of the...
• Sec. 08.76.140 Duration and Renewal of License.
  (a) A license is valid for two years.(b) A person may renew a license under AS 08.01.100 . The renewal fee must be equal...
• Sec. 08.76.160 Limit on Pawn Transaction Amount.
  A licensee may not enter into a pawn transaction that exceeds $750, excluding the finance fee and any fees charged under AS 08.76.220.
• Sec. 08.76.170 Customer and Transaction Limitations.
  (a) A pawnbroker may not knowingly enter into a pawnbroker transaction with a person who is(1) under 18 years of age;(2) under the influence...
• Sec. 08.76.180 Register of Pawnbroker Transactions.
  (a) A pawnbroker shall maintain a register in which the pawnbroker shall enter in legible English at the time of each pawnbroker transaction(1) the...
• Sec. 08.76.190 Recording Requirements.
  The records required to be maintained in a register by AS 08.76.180 must appear in chronological order and, if made in a book, in...
• Sec. 08.76.200 Transaction Agreement.
  A pawnbroker shall provide to a pledgor or seller a copy of the transaction agreement between the pawnbroker and the pledgor or seller. The...
• Sec. 08.76.210 Finance Fee.
  (a) Except as provided in AS 08.76.280 , for each 30-day period of a pawn transaction, including a grace period, a pawnbroker may charge...
• Sec. 08.76.220 Other Charges Allowed.
  (a) Except as provided in AS 08.76.280 , a pawnbroker may charge a processing fee of not more than $5 for each pawn transaction...
• Sec. 08.76.230 Insurance.
  A pawnbroker may not sell to a pledgor or otherwise charge a pledgor for insurance in connection with a pawn transaction, except to cover...
• Sec. 08.76.240 Return of Pledged Property.
  A pawnbroker shall return pledged property to a pledgor when the pledgor redeems the pledged property. The pawnbroker shall provide the pledgor with a...
• Sec. 08.76.250 Extension of Grace Period.
  A pawnbroker and a pledgor may agree to extend the 30-day grace period allowed under AS 08.76.270 (b), but each extension may not exceed...
• Sec. 08.76.260 Retention, Storage, and Lease.
  A pawnbroker shall store pledged property in a secure area and maintain the pledged property in an unaltered condition. A pawnbroker may not lease...
• Sec. 08.76.270 Redemption.
  (a) Unless there is a hold order on the pledged property, the pledged property is subject to a claim under AS 08.76.370 or 08.76.380,...
• Sec. 08.76.280 Military Personnel.
  A pawnbroker shall waive the unpaid amount financed and the finance fee due on a pawn transaction and hold, except as provided in AS...
• Sec. 08.76.290 Business Operation Method and Hours.
  A pawnbroker may not engage in the business of being a pawnbroker(1) by using a method, including a drive-through window, in which a person...
• Sec. 08.76.300 Waiver Prohibited.
  A pawnbroker may not require or allow a person to waive a provision of AS 08.76.100 - 08.76.590.
• Sec. 08.76.310 Employees.
  A pawnbroker may not knowingly employ a person to work in a pawnshop if, within five years before the employment begins, the person was...
• Sec. 08.76.320 Issuance of Police Hold Order.
  (a) When a law enforcement officer has probable cause to believe that property in the possession of a pawnbroker at a pawnshop in the...
• Sec. 08.76.330 Evidentiary Hold Order.
  (a) When property in the possession of the pawnbroker may be needed as evidence in a filed court action involving a criminal charge, a...
• Sec. 08.76.340 Contents and Form of Hold Order.
  A hold order must be in writing and contain(1) the name of the pawnbroker;(2) if a police hold order, the name, title, and identification...
• Sec. 08.76.350 Duration of Police Hold Order.
  (a) A police hold order may not exceed 30 days. However, a law enforcement officer may extend the police hold order for two additional...
• Sec. 08.76.360 Noncompliance With Hold Order.
  The department may suspend or revoke a pawnbroker's license if the pawnbroker knowingly fails to comply with a hold order.
• Sec. 08.76.370 Claim Notification.
  (a) If a person believes that property in the possession of a pawnbroker was misappropriated from the person, and if the person wants to...
• Sec. 08.76.380 Court Action on Claim.
  If a claimant and a pawnbroker do not resolve a claim within 10 days after the pawnbroker's receipt of a notice of the claim...
• Sec. 08.76.390 Liability of Pledgor.
  A pledgor or seller of property to a pawnbroker is liable to the pawnbroker for the full amount that the pledgor or seller received...
• Sec. 08.76.400 Recovery of Leased Property.
  (a) If property in the possession of a pawnbroker was leased to a pledgor or seller when the pledgor or seller pledged or sold...
• Sec. 08.76.410 Law Enforcement Reports.
  (a) A pawnbroker shall provide a law enforcement officer with a law enforcement report in paper or in an electronic format on a weekly...
• Sec. 08.76.420 Contents of Law Enforcement Reports.
  (a) A law enforcement report must contain(1) a complete and accurate description of all property pledged to or purchased by the pawnbroker, including, as...
• Sec. 08.76.430 Inspection by Law Enforcement Entities.
  If a law enforcement agency provides the case number assigned to the investigation for which the inspection is being made, a pawnbroker may not...
• Sec. 08.76.440 Discipline.
  (a) The department may, after notice to the licensee and reasonable opportunity to be heard, take the following disciplinary action against a licensee if...
• Sec. 08.76.450 Civil Penalty.
  If a licensee, or an officer, agent, or employee of a licensee violates AS 08.76.100 - 08.76.590, the licensee is liable to the state...
• Sec. 08.76.460 Municipal Regulation.
  (a) Subject to (b) of this section, a municipality with the authority under AS 29 to enact ordinances regulating pawnbrokers and pawnbroker transactions may...
• Sec. 08.76.470 Regulations.
  (a) The department may adopt regulations to implement AS 08.76.100 - 08.76.590.(b) Before the department adopts a regulation to implement AS 08.76.100 - 08.76.590,...
• Sec. 08.76.500 Exemptions.
  This chapter does not apply to(1) a financial institution that is subject to the regulation of the department under AS 06, including a commercial...
• Sec. 08.76.590 Definitions.
  In AS 08.76.100 - 08.76.590,(1) "amount financed" means the amount of money, excluding a finance fee, charged by a pawnbroker for a pawn transaction;(2)...

Last modified: November 15, 2016