North Carolina § 66-386 Purpose

North Carolina Statutes

§ 66-386 — Purpose

North Carolina § 66-386

Ch. 66Commerce and Business

Art. 45Pawnbrokers, Metal Dealers, and Scrap Dealers

This text of North Carolina § 66-386 (Purpose) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 66-386 (2026).

Text

The making of pawn loans and the acquisition and disposition of tangible personal property by and through pawnshops and cash converters vitally affects the general economy of this State and the public interest and welfare of its citizens. In recognition of these facts, it is the policy of this State and the purpose of the Pawnbrokers and Cash Converters Modernization Act to do all of the following:

(1)Ensure a sound system of making loans and acquiring and disposing of tangible personal property by and through pawnshops, and to prevent unlawful property transactions, particularly in stolen property, through licensing and regulating pawnbrokers.

(2)Ensure a sound system of acquiring and disposing of tangible personal property by and through cash converters and to prevent unlawful property

Free access — add to your briefcase to read the full text and ask questions with AI

The making of pawn loans and the acquisition and disposition of tangible personal property by and through pawnshops and cash converters vitally affects the general economy of this State and the public interest and welfare of its citizens. In recognition of these facts, it is the policy of this State and the purpose of the Pawnbrokers and Cash Converters Modernization Act to do all of the following:
(1) Ensure a sound system of making loans and acquiring and disposing of tangible personal property by and through pawnshops, and to prevent unlawful property transactions, particularly in stolen property, through licensing and regulating pawnbrokers.
(2) Ensure a sound system of acquiring and disposing of tangible personal property by and through cash converters and to prevent unlawful property transactions, particularly in stolen property, by requiring record keeping by cash converters.
(3) Provide for pawnbroker licensing fees and investigation fees of licensees.
(4) Ensure financial responsibility to the State and the general public.
(5) Ensure compliance with federal and State laws.
(6) Assist local governments in the exercise of their police authority. (1989, c. 638, s. 2; 2011-325, s. 3; 2012-46, ss. 2, 5.)