Code of Alabama - Title 5: Banks and Financial Institutions - Chapter 19A - Alabama Pawnshop Act

• Section 5-19A-1 Short title
  This chapter shall be known and may be cited as the "Alabama Pawnshop Act."
• Section 5-19A-2 Definitions
  The following words and phrases shall have the following meanings: (1) APPROPRIATE LAW ENFORCEMENT AGENCY. The sheriff of each county in which the pawnbroker maintains...
• Section 5-19A-3 Pawnbroker to enter on pawn ticket record of information
  At the time of making the pawn or purchase transaction, the pawnbroker shall enter on the pawn ticket a record of the following information which...
• Section 5-19A-4 Certain information to be printed on pawn tickets
  The following information shall be printed on all pawn tickets: (1) The statement that "Any personal property pledged to a pawnbroker within this state is...
• Section 5-19A-5 Statement verifying pledgor is rightful owner of goods; pawnbroker to maintain record of transactions; goods to be maintained on premises for certain number of days before resale
  (a) The pledgor or seller shall sign a statement verifying that the pledgor or seller is the rightful owner of the goods or is entitled...
• Section 5-19A-6 Redemption or automatic forfeiture of pledged goods
  A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within 30 days...
• Section 5-19A-7 Pawnshop charge; amounts in excess of pawnshop charge
  (a) A pawnbroker may contract for and receive a pawnshop charge in lieu of interest or other charges for all services, expenses, costs, and losses...
• Section 5-19A-8 Certain acts by pawnbrokers prohibited
  A pawnbroker, any clerk, agent, or employee of a pawnbroker shall not do any of the following: (1) Fail to make an entry of any...
• Section 5-19A-9 Pledgor presenting pawn ticket entitled to redeem or repurchase goods; lost or damaged pledged goods in possession of pawnbroker; lost, destroyed, or stolen pawn ticket
  (a) Any person properly identified as pledgor or as authorized representative of the pledgor and presenting a pawn ticket to the pawnbroker shall be entitled...
• Section 5-19A-10 Liens for pawnbrokers; pledged goods not redeemed on or before maturity date fixed in ticket
  (a) A pawnbroker shall have a lien on the pledged goods pawned for the money advanced and the pawnshop charge owed, but not for other...
• Section 5-19A-11 Licensing generally; annual fee; temporary license; when new license not required upon change in ownership
  (a) A person may not engage in business as a pawnbroker unless the person has a valid license authorizing engagement in the business. A separate...
• Section 5-19A-12 Eligibility for pawnshop license; application fee
  (a) To be eligible for a pawnshop license, an applicant shall: (1) Operate lawfully and fairly within the purposes of this chapter. (2) Not have...
• Section 5-19A-13 Suspension or revocation of license; notice and hearing; surrender of license
  (a) The supervisor may, after notice and hearing, suspend or revoke any license upon a finding that: (1) The licensee, either knowingly or without the...
• Section 5-19A-14 Application for new pawnshop license, transfer of existing license, etc
  (a) An application for a new pawnshop license, the transfer of an existing pawnshop license, or the approval of a change in the ownership of...
• Section 5-19A-15 No confiscation of property pledged to pawnbroker if property may be put on seven-day hold; when property may be placed on hold
  (a) No pledged or purchased goods may be confiscated if the property pledged to, or purchased by, a pawnbroker may be put on a seven-day...
• Section 5-19A-16 Penalties for failure to secure license
  Any person who engages in the business of operating a pawnshop without first securing the license prescribed by this chapter shall be guilty of a...
• Section 5-19A-17 Penalties for willful violation of chapter or for false entry in required records; compliance enforced by supervisor; order requiring person to refrain from violation
  (a) In addition to any other penalty which may be applicable, any licensee who willfully violates this chapter or who willfully makes a false entry...
• Section 5-19A-18 Department of Public Safety to supply available arrest and conviction records
  The Department of Public Safety on request shall supply to the supervisor any available arrest and conviction records of an individual applying for or holding...
• Section 5-19A-19 Ordinances to be in compliance with but not more restrictive than chapter
  Any municipality may enact ordinances which are in compliance with but not more restrictive than this chapter. Any existing or future order, ordinances, or regulation...
• Section 5-19A-20 Pawnbrokers to be subject to licensing and issuance fees under Chapter 12 of Title 40; chapter not to repeal Uniform Commercial Code
  Notwithstanding the foregoing, all persons currently doing business as pawnbrokers and those seeking licensure under this chapter, shall be subject to the applicable licensing and...

Last modified: May 3, 2021