Pawnbrokers and secondhand dealers; adds regulation thereof to current statutes regulating. (SB1176)

Introduced By

Sen. Ken Stolle (R-Virginia Beach)

Description

Pawnbrokers and secondhand dealers. Adds the regulation of secondhand dealers and secondhand stores to current statutes regulating pawnbrokers. The bill also (i) requires secondhand dealers to prepare a daily report of goods and items sold to them, (ii) requires a pawnbroker to maintain records of each loan or transaction in the course of business for a period of one year, (iii) requires pawnbrokers and secondhand dealers to obtain a single thumbprint of the person pawning or selling an item, and (iv) authorizes localities to enact an ordinance requiring pawnbrokers and secondhand dealers to report their daily transactions electronically to a designated law-enforcement official of the locality. The bill adds secondhand dealers to the existing penalty provisions for pawnbrokers. Read the Bill »

Outcome

History