Louisiana Revised Statutes 37:1804 – Prohibited practices
Terms Used In Louisiana Revised Statutes 37:1804
- Law enforcement officer: means :
(a) The law enforcement officers of the office of state police and the probation and parole officers of the division of probation and parole of the Department of Public Safety and Corrections. See Louisiana Revised Statutes 37:1782
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Maturity date: means the last date subsequent to the pawn transaction upon which the pledgor can redeem a pledged thing. See Louisiana Revised Statutes 37:1782
- 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
- Person: means natural and juridical persons. 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 pawnbroker shall not:
(1) Accept a pledge from any natural person under the age of eighteen.
(2) Make any agreement requiring the personal liability of the pledgor in connection with a pawn transaction.
(3) Accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under the provisions of this Part.
(4) Knowingly accept a stolen thing into pawn.
(5) Rent or lease a pawned thing to any person before the next business day following the maturity date.
(6) Fail to exercise reasonable care to protect pledged things from loss or damage.
(7) Enter into any pawn transaction which has a maturity date of less than that which is permitted in La. Rev. Stat. 37:1800.
(8) Falsify, obliterate, destroy, or remove from the place of business records, books, or accounts relating to the pawnbroker’s pawn transactions before the expiration of two years.
(9) Fail to return the pledged things or replace lost pledged things to a pledgor upon payment of the full amount due the pawnbroker, unless the pledged things have been taken into custody by a court or law enforcement officer. For the purposes of this Paragraph only, the term “lost pledged things” means pledged things that have disappeared, been destroyed, or were stolen while in the care, custody, and control of the pawnbroker and which results in the pledged things being unavailable for return to the pledgor. The pawnbroker’s liability to the pledgor for lost pledged things shall be limited to the replacement of or the replacement value of the lost pledged thing.
(10) Violate any federal, state, or local law, ordinance, regulation, or guideline.
Acts 1993, No. 391, §1, eff. Sept. 1, 1993; Acts 1995, No. 1062, §1, eff. June 29, 1995; Acts 1999, No. 361, §1; Acts 2003, No. 500, §1, eff. Sept. 1, 2003.