Arizona Laws 44-1624. Pawn transactions; reportable transactions
A. The length of all pawn transactions is a minimum of ninety days, except that a longer term may be contracted for between the pawnbroker and the pledgor.
Terms Used In Arizona Laws 44-1624
- 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
- Local law enforcement agency: means the chief of police, the police department or the town marshal, if applicable to a city or town, or the county sheriff, the sheriff's designee or the county sheriff's department, if applicable to a county. See Arizona Laws 44-1621
- Magistrate: means an officer having power to issue a warrant for the arrest of a person charged with a public offense and includes the chief justice and justices of the supreme court, judges of the superior court, judges of the court of appeals, justices of the peace and judges of a municipal court. See Arizona Laws 1-215
- 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
- Person: means an individual, partnership, corporation, association, or any other entity of whatever kind or nature. See Arizona Laws 44-1691
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
- 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
- Property: includes both real and personal property. See Arizona Laws 1-215
- Transaction date: means the initial date of the reportable transaction. See Arizona Laws 44-1621
B. A pawnbroker shall not enter into a pawn transaction or good faith outright purchase of tangible personal property with a person who is less than eighteen years of age.
C. A pawnbroker shall not enter into a pawn transaction or good faith outright purchase of tangible personal property that has a manufacturer’s serial number that has been removed, altered or obliterated.
D. Before entering into a pawn transaction or good faith outright purchase of tangible personal property a pawnbroker shall require the pledgor or seller to identify himself with an identification document sufficient to verify the information required pursuant to section 44-1625.
E. A pawnbroker shall retain any pledged goods at the pawnbroker’s place of business or any other storage location approved by the applicable local law enforcement agency.
F. The pawnbroker shall retain any property obtained by good faith outright purchase in its original form for twenty days after the original transaction date at the pawnbroker’s place of business or other storage location approved by the applicable local law enforcement agency.
G. The pawnbroker shall maintain at the pawnbroker’s place of business records of all reportable transactions and pawn tickets and shall retain the records for at least two years after the date when the transaction occurred. The pawnbroker shall ensure that the records include accurate copies of all transaction receipts or pawn tickets. On request by a local law enforcement agent in the course of the agent’s duties, the pawnbroker shall allow the agent to inspect the pawnbroker’s receipts, pawn tickets or required alcohol, tobacco and firearms logs or to review any article received by the pawnbroker by pledge, purchase or trade.
H. A pawnbroker shall produce the pawnbroker’s register, shall exhibit all articles received by the pawnbroker in pledge or purchase or shall produce the pawnbroker’s account of sales to a local law enforcement agency on the agency’s request to inspect the register, articles or accounts of sales of the pawnbroker or on service of a search warrant or order issued by a judge or magistrate.