§ 45-6-206 — Eligibility requirements for license

Tennessee § 45-6-206

• Jurisdiction: Tennessee
• Title: 45

Text

(a) To be eligible for a pawnbroker's license, an applicant must: (1) Be of good moral character; (2) Have net assets, as defined herein, of at least seventy-five thousand dollars ($75,000), readily available for use exclusively in conducting the business of each licensed pawnbroker; (3) Show that the business will be operated lawfully and fairly within the purpose of this part; and (4) Each licensed pawnbroker shall conform to the requirements set forth in § 45-6-221 . (b) Despite a person's eligibility for a pawnbroker's license under subsection (a), the county clerk shall find ineligible an applicant who has a prior felony conviction within ten (10) years next preceding that: (1) Directly relates to the duties and responsibilities of the occupation of a pawnbroker; or (2) Otherwise makes the applicant presently unfit for a pawnbroker's license. (c) If an applicant for a pawnbroker's license is a business entity, the eligibility requirements of subsections (a) and (b) apply to each operator or beneficial owner, and as to a corporation, to each officer, shareholder, and director.

Legislative History

Acts 1988, ch. 724, § 6; 1994, ch. 935, § 1; 1995, ch. 186, § 4; 1997, ch. 409, § 4; 2012, ch. 778, § 2.