UNOFFICIAL COPY AS OF 10/23/1814 REG. SESS.14 RS BR 821
AN ACT relating to pawnbrokers.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
Section 1. KRS 226.040 is amended to read as follows:
(1)With the exception of re-pawned property or merchandise bought from a manufacturer or wholesaler with an established place of business, every pawnbroker shall keep a register of all loans and purchases of all articles effected or made by him. The register shall contain:
(a)1.A photocopy or electronic scan of a government-issued identification card such as a valid driver's license which contains the name, photograph, and signature of the seller from whom the pawnbroker acquired the property purchased or received on deposit as collateral; or
2.If the seller provided nongovernment-issued identification, in addition to a photocopy or scan of the seller's identification, a copy of the right thumbprint of the seller shall be taken and affixed next to the signature required in paragraph (h) of this subsection;
(b)The date and time of the transaction;[show the dates of all loans or purchases, and the names of all persons who have left any property on deposit as collateral security, or as a delivery or sale. Opposite the names and dates shall be written in plain hand ]
(c)A full description of all property purchased or received on deposit as collateral security;[,]
(d)If the item purchased or received on deposit as collateral is a precious metal or gemstone, a record of the size, weight, color, number of gemstones if any, metal type, and any other unique or identifying numbers, names, or letters;
(e)A digital or paper photograph of the item purchased or received on collateral;[ ]
(f)The time when the loan falls due;[, ]
(g)The amount of purchase money, the amount loaned and the interest charged; and
(h)A signed statement of ownership from the seller stating that he or she is the owner or is otherwise authorized to sell the property purchased or received on deposit as collateral made on a form that conspicuously bears the warning that making a false statement regarding the sale of property under this section may be a violation of KRS Chapter 514.
(2)A pawnbroker shall not conduct business with a seller who is unable or refuses to provide the identification required in subsection (1) of this section.[ ]
(3)The register shall[ at all times] be open during regular business hours to the inspection of any officer of this state when in the discharge of his or her official duty.
(4)The registry requirements of this section shall be in addition to any recordkeeping requirements mandated by a local ordinance.
SECTION 2. A NEW SECTION OF KRS CHAPTER 226 IS CREATED TO READ AS FOLLOWS:
(1)Upon the sale of any item listed in the registry under Section 1 of this Act, a pawnbroker shall record:
(a)The name and address of the buyer;
(b)The date and time of sale; and
(c)The description and photograph made by the pawnbroker at the time of purchase or deposit of the item for collateral.
(2)Any information recorded under this section shall be made available upon request for inspection by any law enforcement officer of the Commonwealth when in the discharge of his or her official duty.
(3)Information provided under this section shall be confidential and shall be used solely for the purpose of criminal investigation.
Section 3. KRS 226.050 is amended to read as follows:
(1)Every pawnbroker shall give a plain written or printed ticket for the loan to the person negotiating or selling, and a plain written or printed receipt of the articles that have been purchased, or upon which money is loaned, having on each a copy of the entries required by KRS 226.040 to be kept in his register. He shall not make any charge for the ticket or receipt.
(2)A pawnbroker may sell any article pawned after the expiration of sixty (60) days from the maturity of the loan, provided that, not less than ten (10) days before making the sale, the pawnbroker shall have given notice to the person by whom the article was pawned, by mail addressed to the post office address of such person as shown on the pawnbroker's register, or electronically, if at the time the loan is made, the seller agrees in writing to electronic communication notifying such person that, unless he redeems the article within ten (10) days from the date of mailing said notice, the article will be sold.
Section 4. KRS 226.070 is amended to read as follows:
(1)Every pawnbroker in a city or in the unincorporated area of any county, urban-county, or consolidated local government, shall by 11 a.m. each day, make available to the chief of police of the city, the chief law enforcement officer of the county, urban-county, or consolidated local government,, or to the Department of Kentucky State Police, a true and correct written report of all goods received by him or her, whether by pawn or purchase, during the twenty-four (24) hours preceding each report. The report shall contain the information required under subsection (1) of Section 1 of this Act[The report shall describe the goods as accurately as practicable].
(2)The chief of police of the city, the chief law enforcement officer of the county, urban-county, or consolidated local government, or the Department of Kentucky State Police shall furnish blanks for the reports required by subsection (1) of this section.
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BR082100.100 - 821 - 1884Jacketed