Louisiana Revised Statutes 37:1796 – Records to be kept, entries required
Terms Used In Louisiana Revised Statutes 37:1796
- Pawn transaction: means the lending of money on a deposit or pledge or taking other things into possession as security for money advanced. See Louisiana Revised Statutes 37:1782
- Pawnbroker: means a person who lends money on a deposit or pledge or who takes other things into possession as security for money advanced or who makes a public display at his place of business of the sign generally used by pawnbrokers to denote his business, namely, three gilt or yellow balls, or who publicly exhibits a sign that money is to be loaned on things on deposit. See Louisiana Revised Statutes 37:1782
- Pawnshop: means the location at which, or premises upon which, a pawnbroker regularly conducts business. See Louisiana Revised Statutes 37:1782
- Things: means any property, movable and immovable, corporeal and incorporeal, and rights therein. See Louisiana Revised Statutes 37:1782
A. Every pawnbroker shall maintain a permanent record of all transactions of things pledged on the pawnshop premises. This record, which may be maintained electronically, shall be kept for a period of two years. Entries shall be made in the English language and shall include the personally identifiable information and the transactional information for each pawn transaction. Personally identifiable information and transactional information provided under the provisions of this Section shall in no event be made available to the public.
B. For complying with the provisions of this Section and Part the pawnbroker shall be entitled to the service charge set forth in La. Rev. Stat. 37:1799.
Acts 1993, No. 391, §1, eff. Sept. 1, 1993; Acts 1997, No. 235, §1; Acts 2006, No. 183, §1.