§ 40-39-70 — Recordkeeping; identity verifications; only owners or their agents may pawn or sell.

(A) A pawnbroker shall keep a record, at the time of any loan or purchase, containing: (1) an account, description, and digital photograph of the goods, articles, or things pawned, pledged, or purchased; (2) the amount of money loaned thereon; (3) the time of pledging them; (4) the charges or the rate of interest to be paid on the loan; and (5) the name and residence of the person selling, pawning, or pledging the goods, articles, or things. (B) Before a pledge or purchase, the pawnbroker shall verify the identity of the pledgor or seller by reviewing a state-issued or federally issued photographic identification card, including a United States military identification card, or a passport issued by the United States. (C) A pawn or purchase transaction must be performed by the owner of the property, or his authorized agent, whose identity and agency relationship must be verified by the pawnbroker.

Legislative History

HISTORY: 1988 Act No. 491, SECTION 2; 2016 Act No. 262 (H.4090), SECTION 9, eff June 9, 2016; 2018 Act No. 191 (S.810), SECTION 1, eff August 15, 2018. Editor's Note Prior Laws:1900 (23) 427; Civ. C. '02 SECTION 1751; Civ. C. '12 SECTION 2627; Civ. C. '22 SECTION 3948; 1932 Code SECTION 7132; 1942 Code SECTION 7132; 1952 Code SECTION 56-1157; 1962 Code SECTION 56-1157; 1962 (52) 1959. Effect of Amendment 2016 Act No. 262, SECTION 9, inserted paragraph designator (A); in (A), inserted "or purchase", and inserted "selling"; and added (B) and (C), relating to identity verification and transaction performance requirements. 2018 Act No. 191, SECTION 1, amended (A), requiring pawnbrokers to keep digital photographs of goods, articles, or things pawned.