Arizona Laws 44-1622. Pawn tickets; requirements
A. All pawn transactions must be evidenced by a pawn ticket that is issued at the time of the pawn transaction.
Terms Used In Arizona Laws 44-1622
- Identification document: means a valid driver license, a valid nonoperating identification license, a valid armed forces identification card or any other valid government issued photo identification. See Arizona Laws 44-1621
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Maturity date: means the date specified on the pawn ticket by which the pledged goods must be redeemed or the pawn ticket must be renewed. See Arizona Laws 44-1621
- Pawn ticket: means the actual executed document that records the pawn transaction and describes the conditions of the loan agreement between the pawnbroker and pledgor. See Arizona Laws 44-1621
- Pawn transaction: means either the act between the pawnbroker and a person pledging tangible personal property or extending credit on the security of pledged goods or the act of purchasing tangible personal property with an express or implied agreement or understanding that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time, except that a good faith outright purchase of tangible personal property is not a pawn transaction. See Arizona Laws 44-1621
- Pawnbroker: means a person who is engaged in the business of advancing money on the security of pledged goods or is engaged in the business of purchasing tangible personal property on the condition that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time. See Arizona Laws 44-1621
- Pawnshop: means the location or premises at which a pawnbroker is licensed to regularly conduct the pawnbroker's business. See Arizona Laws 44-1621
- Pledged goods: means tangible personal property which is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of the pawnbroker's business in connection with the pawn transaction. See Arizona Laws 44-1621
- Pledgor: means the person leaving the personal property with the pawnbroker and executing the pawn ticket. See Arizona Laws 44-1621
B. A pawn ticket shall include, at a minimum, all of the following:
1. The name, address and telephone number of the pawnshop and pledgor.
2. The birth date and physical description of the pledgor, including height, weight and hair and eye color.
3. The number and type of the identification document presented by the pledgor.
4. A listing of the articles left in the possession of the pawnbroker.
5. The date of the pawn transaction.
6. The maturity date of the pawn transaction, which shall be set forth in at least twelve point type.
7. The principal amount of the pawn transaction.
8. The following statement in at least ten point type:
"You are not obligated to redeem the pledged goods. The pledged goods will be forfeited to the pawnbroker after the maturity date unless the pledged goods are redeemed or you enter into a new pawn transaction for the pledged goods."