Michigan Compiled Laws Act 273 Of 1917 Pawnbrokers (446.201 - 446.219)

• Section 446.201 Pawnbrokers; License Required; Exception; Internet Drop-off Store Exempt From Licensure.
  (1) A person, corporation, or firm shall not conduct business as a pawnbroker in any of the governmental units of this state without having...
• Section 446.202 Licenses; Issuance; Contents; Term; Transferability; Fee; Bond; Limitations.
  (1) The chief executive officer of the governmental unit may grant under his or her hand, and the official seal of his or her...
• Section 446.203 Definitions.
  As used in this act: (a) "Chief executive officer" means any of the following: (i) For a city, the mayor. (ii) For a village,...
• Section 446.204 Licensed Pawnbroker; Action Upon Bond.
  If any person shall be aggrieved by the conduct of any such licensed pawnbroker, and shall recover judgment against him therefor, such person may,...
• Section 446.205 Record Of Property Received; Contents; Inspection; Form Of Permanent Record.
  (1) A pawnbroker shall keep a record in English, at the time the pawnbroker receives any article of personal property or other valuable thing...
• Section 446.206 Statement To Police Of Articles Received; Contents.
  A pawnbroker shall make daily, except Sunday, a sworn statement of his or her transactions, describing the articles received, and setting forth the name,...
• Section 446.207 Repealed. 1980, Act 199, Imd. Eff. July 10, 1980.
  Compiler's Notes: The repealed section pertained to the right of a pawnbroker to deal in secondhand property.
• Section 446.208 Purchaser's Memorandum Of Pawn; Contents.
  A pawnbroker, at the time of a loan, shall deliver to the person pawning or pledging any article a memorandum or note signed by...
• Section 446.209 Interest On Loans; Rate; Storage Charge; Usage Fee; Time Of Payment; Computation; Fee Or Excess Charge Prohibited.
  (1) A licensed pawnbroker may charge upon any loan a rate of interest not to exceed 3% per month and is not required to...
• Section 446.210 Title To Item; Sale Of Pawned Property; Time Of Possession.
  (1) Title to the item pledged or pawned vests in the pawnbroker upon the expiration of 3 months or of any period beyond 3...
• Section 446.211 Payment Or Tender Of Debt Before Sale; Effect As To Title And Right To Property; Agreement To Permit Pawner To Maintain Possession; Usage Fee.
  (1) If at any time before the sale of the item pledged or pawned the borrower pays or tenders to the pawnbroker the debt...
• Section 446.212 Repealed. 1998, Act 233, Imd. Eff. July 3, 1998.
  Compiler's Notes: The repealed section pertained to disposition of surplus money resulting from sale.
• Section 446.213 Pawned Property; Destruction Or Defacing Unlawful; Visibility Of Serial Number Or Insignia.
  (1) A pawnbroker shall not deface, scratch, obliterate, melt, separate, or break into parts any article or thing received by him or her in...
• Section 446.214 Pawned Property; Acceptance From Certain Persons Prohibited.
  A pawnbroker shall not receive for pawn any article from any person under 18 years of age or a person the pawnbroker suspects as...
• Section 446.216 Bond Of Complainant; Amount, Surety.
  The said bond shall be in double the value of the property claimed, with such surety as such court shall approve, and shall be...
• Section 446.217 Transaction Of Business On Sunday Unlawful.
  No license granted under the provisions of this act shall authorize any business to be transacted by pawnbrokers on the first day of the...
• Section 446.218 Violation Of Act; Penalty.
  Any person who shall violate any of the provisions of this act, whether as owner, or as clerk, agent, servant or employe, shall be...
• Section 446.219 Violation Of Act; Revocation Of License; Duration.
  Upon a conviction of any person conducting business as a pawnbroker under this act, or on conviction of any clerk, agent, servant, or employee...

Last modified: October 10, 2016