A pawnbroker shall not:

(1) Accept a pledge or purchase property from a person under eighteen (18) years of age, nor accept a pledge from anyone who appears intoxicated, nor from any person known to the pawnbroker to be a thief, or to have been convicted of larceny, burglary or robbery, without first notifying a police officer;
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Terms Used In Tennessee Code 45-6-212

  • pawn transaction: means either of the following transactions:
    (i) "Buy-sell" agreement means any agreement whereby a pawnbroker agrees to hold a property (pledged goods) for a specified period of time not to be less than sixty (60) days to allow the seller the exclusive right to repurchase the property. See Tennessee Code 45-6-203
  • Pawnbroker: means any person, partnership or corporation engaged in the business of lending money on the security of pledged goods. See Tennessee Code 45-6-203
  • Person: means any individual, corporation, joint venture, association or any other legal entity however organized. See Tennessee Code 45-6-203
  • Pledged goods: means tangible personal property, other than choses in action, securities, printed evidences of indebtedness or title documents, which tangible personal property is purchased by, deposited with, or otherwise actually delivered into the possession of a pawnbroker in connection with a pawn transaction, and includes "pawn" or "pledged property" or similar words. See Tennessee Code 45-6-203
  • Pledgor: means the pawn loan customer of the pawnbroker, entering into a pawn transaction with the pawnbroker. See Tennessee Code 45-6-203
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(2) Make any agreement requiring the personal liability of a pledgor in connection with a pawn transaction;
(3) Accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under this part;
(4) Fail to exercise reasonable care to protect pledged goods from loss or damage;
(5) Fail to return pledged goods to a pledgor upon payment of the full amount due the pawnbroker on the pawn transaction. In the event the pledged goods are lost or damaged while in the possession of the pawnbroker, it shall be the responsibility of the pawnbroker to replace the lost or damaged goods with like kind or kinds of merchandise. In the event the pledgor and pawnbroker cannot agree as to replacement with like kind or kinds, the pawnbroker shall reimburse the pledgor for the agreed upon value of the article as recited under § 45-6-209(b)(4);
(6) Purchase property in a pawn transaction for the pawnbroker’s own personal use;
(7) Take any article in pawn, pledge, or as security or under a buy-sell agreement from any person, which article is known to the pawnbroker to be stolen;
(8) Sell, exchange, barter, or remove from the pawnbroker’s place of business, or permit to be redeemed any goods pledged, pawned, or disposed of by the pawnbroker for a period of forty-eight (48) hours after making the report as provided in § 45-6-209;
(9) Keep more than one (1) house, shop, or place for the business of pawnbroker under one (1) license; provided, that the person may remove from one (1) place of business to another, as provided in § 45-6-208;
(10) Keep open the pawnbroker’s place of business before eight o’clock a.m. (8:00 a.m.) or after six o’clock p.m. (6:00 p.m.) of any day during the year, with the exception of thirty (30) days before Christmas, meaning November 25 through December 24, of each year, and then the pawnbroker may open the place of business at eight o’clock a.m. (8:00 a.m.) and shall be entitled to close same at nine o’clock p.m. (9:00 p.m.); provided, that any municipality that contains within its corporate limits a portion of a military reservation that is located partially within the boundary of this state and partially within the boundary of another state and that has a population of not less than fifty-three thousand (53,000) and not more than seventy-five thousand (75,000), according to the 1980 federal census or any subsequent federal census, may extend the hours of operation by ordinance of the governing body beyond the hours of operation established pursuant to this subdivision (10), but the extension of hours shall not exceed the hours authorized in the closest contiguous state to the municipality; or
(11) Enter into any pawn transaction that has a maturity date less than thirty (30) days after the date of the pawn transaction.
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