(a) All pawnshops that are required to take and maintain thumb or other prints pursuant to § 45-6-209(b)(7) shall be required to place a sign at least ten inches by fourteen inches (10″ X 14″) in a prominent location reasonably close in proximity to the place where the pawn transaction will occur. The sign shall contain language in bold type substantially similar to the following:

WARNING! IF YOU CONDUCT A PAWN TRANSACTION AT THIS ESTABLISHMENT YOU WILL BE REQUIRED TO GIVE A THUMBPRINT BEFORE SUCH TRANSACTION MAY BE COMPLETED AND YOUR THUMBPRINT MAY BE OBTAINED AND USED BY THE POLICE.

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Terms Used In Tennessee Code 45-6-224

  • 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
(b) Any pawnbroker who fails to comply with this section shall be subject to a civil penalty of one hundred dollars ($100) and noncompliance shall be grounds for the suspension of the pawnbroker’s license.
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