SB 292: "An Act relating to the registration and operation of pawnbrokers and to the exemption for pawnbrokers under the Alaska Small Loans Act; and providing for an effective date."
00 SENATE BILL NO. 292 01 "An Act relating to the registration and operation of pawnbrokers and to the exemption 02 for pawnbrokers under the Alaska Small Loans Act; and providing for an effective 03 date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 06.20.330(b) is amended to read: 06 (b) This chapter does not apply to individual loans by 07 (1) [PAWNBROKERS OR] loan shops where separate and individual 08 loans do not exceed $500; or 09 (2) a person who is regulated under AS 08.76.100 - 08.76.590. 10 * Sec. 2. AS 08.01.010 is amended by adding a new paragraph to read: 11 (39) regulation of pawnbrokers (AS 08.76.100 - 08.76.590). 12 * Sec. 3. AS 08.76.010(a) is amended to read: 13 (a) A person engaged in the business of buying and selling secondhand 14 articles, [OR LENDING MONEY ON SECONDHAND ARTICLES,] except a bank
01 or a person regulated by AS 08.76.100 - 08.76.590, shall maintain a book, in 02 permanent form, in which the person shall enter in legible English at the time of each 03 [LOAN,] purchase [,] or sale 04 (1) the date of the transaction; 05 (2) the name of the person conducting the transaction; 06 (3) the name, age, and address of the customer; 07 (4) a description of the property bought [OR RECEIVED IN 08 PLEDGE], which includes, for any firearm, watch, camera, or optical equipment 09 bought [OR RECEIVED IN PLEDGE], the name of the maker, the serial, model, or 10 other number, and all letters and marks inscribed; 11 (5) the price paid [OR AMOUNT LOANED]; 12 (6) the signature of the customer. 13 * Sec. 4. AS 08.76.020 is amended to read: 14 Sec. 08.76.020. Manner of recording entry. The entries in the book [AND 15 THE ELECTRONIC RECORD] required by AS 08.76.010 shall appear in 16 chronological order [AND, WHEN MADE IN A BOOK,] in ink or indelible pencil. 17 Blank lines may not be left between entries. Obliterations, alterations, or erasures may 18 not be made. Corrections shall be made by drawing a line through the entry without 19 destroying its legibility, and [, WHEN MADE IN A BOOK,] the line shall be drawn in 20 ink. The book shall be open to the inspection of a peace officer at reasonable times. 21 * Sec. 5. AS 08.76 is amended by adding new sections to read: 22 Article 2. Licensing and Regulation of Pawnbrokers. 23 Sec. 08.76.100. Licensing required. (a) A person may not engage in business 24 as a pawnbroker without holding a license issued by the department. 25 (b) A license is not transferable or assignable. 26 Sec. 08.76.110. Requirements for license. The department may issue a license 27 to a person if the person 28 (1) has good character; 29 (2) has the experience to engage in business as a pawnbroker; 30 (3) is fit to engage in business as a pawnbroker; 31 (4) submits an application as required by the department under
01 AS 08.01.060; 02 (5) pays a fee established by the department under AS 08.01.065; and 03 (6) pays the investigation fee under AS 08.76.120. 04 Sec. 08.76.120. Investigation fee. Notwithstanding AS 08.01.065, a person 05 applying for a license shall pay the department a nonrefundable initial investigation 06 fee of $200. The investigation fee is nonrefundable even if the application is 07 considered withdrawn under AS 08.76.130. 08 Sec. 08.76.130. Withdrawal of application. The department may consider 09 that a person has withdrawn the person's application for a license if 10 (1) the application does not contain all of the required information; or 11 (2) the information required for the application is not submitted to the 12 department within 90 days after the department requests in writing that the person 13 provide the department with the information. 14 Sec. 08.76.140. Duration and renewal of license. (a) A license is valid for 15 two years. 16 (b) A person may renew a license under AS 08.01.100. The renewal fee must 17 be equal to the fee established under AS 08.76.110(5). 18 (c) Notwithstanding AS 08.01.100(b), if a person fails to renew a license 19 before September 1 of the calendar year in which the license expires, the person shall 20 pay the department a delayed renewal penalty of $100 in addition to the regular 21 renewal fee. 22 (d) If a person fails to renew the person's license, the person may not engage 23 in business as a pawnbroker until the person's license is renewed or a new license is 24 issued. 25 (e) The department may refuse to renew a license under this section for 26 reasons that would have prevented the issuance of the license to the person under 27 AS 08.76.110. 28 Sec. 08.76.160. Amount financed. Except for the limitations in AS 08.76.210 29 and 08.76.220 on interest and other charges that a licensee may charge, a licensee may 30 enter into a pawn transaction for any amount. 31 Sec. 08.76.170. Customer and transaction limitations. (a) A pawnbroker
01 may not knowingly enter into a pawnbroker transaction with a person who is 02 (1) under 18 years of age; 03 (2) under the influence of alcohol or a controlled substance when the 04 influence is apparent; or 05 (3) using the name of another person. 06 (b) A pawnbroker may not knowingly accept or receive misappropriated 07 property from a person in a pawnbroker transaction. 08 Sec. 08.76.180. Record of pawnbroker transactions. (a) A pawnbroker shall 09 maintain a record in which the pawnbroker shall enter in legible English at the time of 10 each loan, purchase, or sale 11 (1) the date of the pawnbroker transaction; 12 (2) the name of the person conducting the pawnbroker transaction; 13 (3) the name, age, and address of the pledgor or purchaser; 14 (4) a description of the pledged property or purchased property, 15 including, with regard to a firearm, a watch, a camera, or optical equipment, the name 16 of the maker, the serial number, model number, or other number, and all letters and 17 marks inscribed on the item of property; 18 (5) the price paid or amount loaned; 19 (6) the signature of the pledgor or seller; and 20 (7) the type of identification used by the pledgor or seller, the name of 21 the government agency that issued the identification, and the number written on the 22 identification. 23 (b) A pawnbroker may make a record in a book or in an electronic format. 24 (c) A pawnbroker may not falsify or intentionally fail to make an entry of a 25 material matter in a pawnbroker record. 26 (d) A pawnbroker may not knowingly obliterate, discard, or destroy the record 27 of a completed pawnbroker transaction within one year after the completion of a 28 pawnbroker transaction. 29 Sec. 08.76.190. Recording requirements. The records required by 30 AS 08.76.180 must appear in chronological order and, if made in a book, in ink or 31 indelible pencil. Blank lines may not be left between entries. A pawnbroker may not
01 change a record by obliteration, alteration, or erasure. A pawnbroker may correct a 02 record by drawing a line through the entry without destroying its legibility. 03 Sec. 08.76.200. Transaction agreement. A pawnbroker shall provide to a 04 pledgor or seller a copy of the agreement between the pawnbroker and the pledgor or 05 seller. The agreement must disclose each fee charged under AS 08.76.210 or 06 08.76.220. The agreement must be on a form approved by the department. 07 Sec. 08.76.210. Finance fee. (a) Except as provided in AS 08.76.280, for each 08 30-day period of a pawn transaction, including a grace period, a pawnbroker may 09 charge a pledgor a finance fee of $5 or an amount that equals interest at a rate that 10 does not exceed 20 percent of the amount financed, whichever amount is greater. 11 (b) A finance fee is considered to be earned on the day that the pawn 12 transaction is entered into and on the first day of each subsequent 30-day period of the 13 pawn transaction. 14 Sec. 08.76.220. Other charges allowed. (a) Except as provided in 15 AS 08.76.280, a pawnbroker may charge a processing fee of not more than $5 for each 16 pawn transaction for preparing and processing the pawn transaction documentation, 17 providing reports to law enforcement officers, paying expenses, providing other 18 services, and for losses. 19 (b) A pawnbroker may charge a pledgor who places with the pawnbroker a 20 firearm that is required by law to be registered 21 (1) a registration fee of not more than $5; and 22 (2) a governmental fee. 23 Sec. 08.76.230. Insurance. A pawnbroker may not sell to a pledgor or 24 otherwise charge a pledgor for insurance in connection with a pawn transaction, 25 except to cover the shipment of pledged property that is redeemed by mail. 26 Sec. 08.76.240. Return of pledged property. A pawnbroker shall return 27 pledged property to a pledgor when the pledgor redeems the pledged property. The 28 pawnbroker shall provide the pledgor with a receipt showing the redemption. The 29 receipt must be on a form approved by the department. 30 Sec. 08.76.250. Extension of grace period. A pawnbroker and a pledgor may 31 agree to extend the 30-day grace period allowed under AS 08.76.270(b), but each
01 extension may not exceed 30 days. An extension must be in writing, and the 02 pawnbroker shall give the pledgor a copy of the extension agreement. The agreement 03 must clearly state the last day of the extension and the finance fee charged for the 04 extension. 05 Sec. 08.76.260. Retention, storage, and lease. A pawnbroker shall store 06 pledged property in a secure area and maintain the pledged property in an unaltered 07 condition. A pawnbroker may not lease pledged property. 08 Sec. 08.76.270. Redemption. (a) Unless there is a hold order on the pledged 09 property, the pledged property is subject to a claim under AS 08.76.370 or 08.76.380, 10 or the property is returned to a lessor under AS 08.76.400, a pledgor may redeem 11 pledged property by paying the amount financed and the finance fee in full before the 12 pawnbroker's scheduled closing time on the maturity date. 13 (b) If a pledgor does not pay the amount financed and the finance fee in full 14 before the pawnbroker's scheduled closing time on the maturity date, the pawnbroker 15 shall hold the pledged property on the pawnbroker's business premises for a grace 16 period of 30 days plus any extension allowed under AS 08.76.250. A pledgor may 17 redeem the pledged property during the actual grace period by paying the amount 18 financed and the finance fee, but a pledgor may not redeem pledged property after the 19 pawnbroker's scheduled closing time on the last day of the actual grace period. In this 20 subsection, "actual grace period" means the grace period plus any extension allowed 21 under AS 08.76.250. 22 (c) If there is a hold order on pledged property, the pledgor may redeem the 23 pledged property only when the hold order is released. 24 (d) If pledged property is subject to a claim under AS 08.76.370 or 08.76.380, 25 the pledgor may redeem the pledged property only when the pledged property 26 becomes available under AS 08.76.370 or 08.76.380 for redemption. 27 (e) If a pledgor does not redeem pledged property under (a) - (d) of this 28 section, the title and all interest in the pledged property transfer to the pawnbroker. 29 (f) The holder of a pawn ticket is presumed to be the person who is entitled to 30 redeem the pledged property that is the subject of the pawn ticket, and a pawnbroker 31 shall deliver the pledged property to the person who presents the pawn ticket and pays
01 the amount financed and the finance fee for the pawn transaction. 02 Sec. 08.76.280. Military personnel. A pawnbroker shall waive the unpaid 03 amount financed and the finance fee due on a pawn transaction and hold, except as 04 provided in AS 08.76.320 - 08.76.380, the pledged property that is the subject of the 05 pawn transaction on the pawnbroker's business premises until 60 days after the 06 pledgor, the pledgor's spouse, or the pledgor's dependent returns to the United States, 07 if the pawnbroker receives a copy of military orders indicating that 08 (1) the pledgor, or the pledgor's spouse or dependent, is enlisted in the 09 military service of a state or the federal government; and 10 (2) after the pawn transaction was entered into, the person was or is to 11 be deployed abroad for service relating to a military conflict. 12 Sec. 08.76.290. Business operation method and hours. A pawnbroker may 13 not engage in the business of being a pawnbroker 14 (1) by using a method, including a drive-through window, in which a 15 person remains in a motor vehicle while conducting the pawnbroker transaction; or 16 (2) between the hours of 12 midnight and 6:00 a.m. 17 Sec. 08.76.300. Waiver prohibited. A pawnbroker may not require or allow a 18 person to waive a provision of AS 08.76.100 - 08.76.590. 19 Sec. 08.76.310. Employees. A pawnbroker may not knowingly employ a 20 person to work in a pawnshop if, within five years before the employment begins, the 21 person was convicted of, entered a plea of guilty to, entered a plea of no contest to, or 22 had adjudication withheld for a felony, or for a misdemeanor involving dishonesty. 23 Sec. 08.76.320. Issuance of police hold order. (a) When a law enforcement 24 officer has probable cause to believe that property in the possession of a pawnbroker 25 at a pawnshop in the law enforcement officer's jurisdiction has been misappropriated, 26 the law enforcement officer may issue a police hold order that directs the pawnbroker 27 not to release or dispose of the property until the police hold order terminates or a 28 court orders the release or disposal. 29 (b) Unless a pawnbroker or the pawnbroker's designee refuses to sign the 30 police hold order, a police hold order begins when the pawnbroker or the pawnbroker's 31 designee receives the police hold order. If the pawnbroker or the pawnbroker's
01 designee refuses to sign the police hold order, the police hold order begins when the 02 refusal occurs. 03 Sec. 08.76.330. Evidentiary hold order. (a) When property in the possession 04 of the pawnbroker may be needed as evidence in a filed court action involving a 05 criminal charge, a law enforcement agency may issue an evidentiary hold order to a 06 pawnbroker that directs the pawnbroker not to release or dispose of the property until 07 the evidentiary hold order terminates or a court orders the release or disposal. 08 (b) A pawnbroker who receives an evidentiary hold order under (a) of this 09 section shall hold the property until the attorney general notifies the pawnbroker in 10 writing of the disposition of the filed court action. The attorney general shall notify the 11 pawnbroker within 15 days after the disposition of the filed court action for which the 12 property may be needed as evidence. 13 Sec. 08.76.340. Contents and form of hold order. A hold order must be in 14 writing and contain 15 (1) the name of the pawnbroker; 16 (2) if a police hold order, the name, title, and identification number of 17 the law enforcement officer issuing the police hold order, and the name and address of 18 the law enforcement agency for which the law enforcement officer is acting; 19 (3) if an evidentiary hold order, the name and address of the law 20 enforcement agency issuing the evidentiary hold order; 21 (4) the number, if any, assigned by the law enforcement agency to the 22 case, and, for an evidentiary hold order, the number and caption of the filed court 23 action; 24 (5) a complete description of the property being held, including the 25 model number and serial number, if any; 26 (6) if a police hold order, the name of the person, if any, who reported 27 the property as misappropriated; 28 (7) the mailing address of the pawnshop where the property is being 29 held; and 30 (8) the expiration date of the hold order. 31 Sec. 08.76.350. Duration of police hold order. (a) A police hold order may
01 not exceed 30 days. However, a law enforcement officer may extend the police hold 02 order for two additional successive 30-day periods by giving written notification to the 03 pawnbroker before the expiration of each 30-day period. 04 (b) A law enforcement agency may not issue a new police hold order for the 05 same property after the second additional 30-day period allowed under this section. 06 However, the termination of the police hold order does not affect an existing 07 evidentiary hold order on the same property or prevent the issuance of an evidentiary 08 hold order for the same property. 09 (c) A law enforcement agency may release a police hold order before the end 10 of a 30-day period by issuing a written release to the pawnbroker. 11 Sec. 08.76.360. Noncompliance with hold order. The department may 12 suspend or revoke a pawnbroker's license if the pawnbroker knowingly fails to comply 13 with a hold order. 14 Sec. 08.76.370. Claim notification. (a) If a person believes that property in the 15 possession of a pawnbroker was misappropriated from the person, and if the person 16 wants to obtain possession of the property from the pawnbroker, the person shall first 17 notify the pawnbroker by certified mail, return receipt requested, or in person of the 18 person's claim and obtain a signed receipt from the pawnbroker that the pawnbroker 19 was notified. 20 (b) A notice under (a) of this section must contain a complete and accurate 21 description of the property and, if the claimant alleges that the property was stolen, be 22 accompanied by a legible copy of a law enforcement agency's report indicating that 23 the property was stolen. 24 (c) Except as provided in AS 08.76.380, a pawnbroker may not, for 30 days 25 after the pawnbroker receives notice of the claim under this section, dispose of 26 property that is the subject of a claim. 27 Sec. 08.76.380. Court action on claim. If a claimant and a pawnbroker do not 28 resolve a claim within 10 days after the pawnbroker's receipt of a notice of the claim 29 under AS 08.76.370, the claimant may bring an action in superior court to require the 30 pawnbroker to return the property to the claimant. After a pawnbroker is notified that a 31 court action has been filed, the pawnbroker may not dispose of the property until the
01 court disposes of the court action, disposes of the property, or allows the pawnbroker 02 to dispose of the property. 03 Sec. 08.76.390. Liability of pledgor. A pledgor or seller of property to a 04 pawnbroker is liable to the pawnbroker for the full amount that the pledgor or seller 05 received from the pawnbroker, all charges owed by the pledgor for the pawnbroker 06 transaction, and attorney fees and other costs as allowed by the rules of court if, in an 07 action under AS 08.76.380, 08 (1) the superior court determines that the pledgor or seller 09 misappropriated the property from the claimant; and 10 (2) the superior court orders the pawnbroker to return the property to 11 the claimant. 12 Sec. 08.76.400. Recovery of leased property. (a) If property in the possession 13 of a pawnbroker was leased to a pledgor or seller when the pledgor or seller pledged 14 or sold the property to the pawnbroker, but the property did not have a permanent 15 label or other conspicuous mark identifying it as the lessor's property, the pawnbroker 16 shall return the property to the lessor if the lessor 17 (1) provides the pawnbroker with evidence that the property was the 18 lessor's property and was leased to the pledgor or seller at the time the property was 19 pledged or sold to the pawnbroker; and 20 (2) pays the pawnbroker 21 (A) the amount financed and the finance fee for the pawn 22 transaction, if the property was pledged to the pawnbroker; or 23 (B) the amount that the pawnbroker paid the seller if the 24 property was sold to the pawnbroker. 25 (b) A pawnbroker is not liable to the pledgor or seller of property that is 26 recovered by a lessor under (a) of this section for returning the property to a lessor 27 under (a) of this section. 28 Sec. 08.76.410. Law enforcement reports. (a) A pawnbroker shall provide a 29 law enforcement officer with a law enforcement report in paper or electronic format 30 on a daily or weekly basis, as determined by the law enforcement officer. 31 (b) A law enforcement report is confidential under AS 40.25.100 - 40.25.220,
01 and a law enforcement officer and a law enforcement agency may only use a law 02 enforcement report to investigate a crime involving the property that is the subject of 03 the pawnbroker transactions of the pawnbroker. 04 Sec. 08.76.420. Contents of law enforcement reports. (a) A law enforcement 05 report must contain 06 (1) a complete and accurate description of all property pledged to or 07 purchased by the pawnbroker, including, as applicable, the property's 08 (A) brand name, model number, and manufacturer's serial 09 number; 10 (B) size and the color that is apparent to an untrained eye; 11 (C) precious metal type, weight, and content, if known; 12 (D) gemstone description; 13 (E) type of action, caliber or gauge, number of barrels, barrel 14 length, and finish, if the property is a firearm; and 15 (F) other unique identifying marks, numbers, names, and 16 letters; and 17 (2) the number of the pawnbroker transaction document that the 18 pawnbroker used to document the pawnbroker transaction. 19 (b) Notwithstanding (a) of this section, the description of the items under 20 (a)(1) of this section is adequate if the description gives the quantity of the items and 21 describes the type of the items if the pawnbroker transaction consists solely of 22 multiple items that are of a similar type, do not have serial or model numbers, and do 23 not contain precious metals or gemstones. 24 Sec. 08.76.430. Review by law enforcement officers. (a) A pawnbroker shall 25 make purchased property, records, and pledged property that has not been redeemed 26 available for inspection by a law enforcement officer during normal business hours 27 during the 30 days after the pawnbroker transaction is entered into. 28 (b) A pawnbroker may not refuse to allow the department, a law enforcement 29 officer, a law enforcement agency, or the state attorney general to inspect the 30 pawnbroker's pledged property, purchased property, or records during the ordinary 31 hours of the pawnbroker's business or at other mutually acceptable times.
01 Sec. 08.76.440. Discipline. (a) The department may, after notice to the licensee 02 and reasonable opportunity to be heard, take the following disciplinary action against a 03 licensee if the licensee or an officer, agent, or employee of the licensee violates 04 AS 08.76.100 - 08.76.590: 05 (1) permanently revoke a license; 06 (2) suspend a license for a specified period; 07 (3) censure or reprimand a licensee; 08 (4) impose limitations or conditions on the licensee; 09 (5) impose probation requiring a licensee to report regularly to the 10 department on matters related to the grounds for probation; 11 (6) impose on the licensee a civil fine not to exceed $5,000; 12 (7) order the licensee to make restitution. 13 (b) If the department takes disciplinary action under (a) of this section, the 14 department may not, for one year after the date of the disciplinary action, issue another 15 license to the licensee or a license to 16 (1) the spouse of the licensee; 17 (2) a partnership if the licensee is a partner of the partnership; 18 (3) a corporation if the licensee is an officer of the corporation, 19 including a member of the board of directors of the corporation; 20 (4) a limited liability company if the licensee is a member or manager 21 of the limited liability company; or 22 (5) an employee of the licensee. 23 (c) Before taking disciplinary action under (a) of this section, the department 24 shall allow a licensee 30 days to correct the violation. 25 Sec. 08.76.450. Penalty. If a licensee, or an officer, agent, or employee of a 26 licensee violates AS 08.76.100 - 08.76.590, the licensee is liable to the state for a civil 27 penalty. Notwithstanding AS 08.01.075(a)(8), the penalty may not be less than $200 28 or more than $2,000. The amount of the civil penalty must be adjusted to the 29 seriousness of the violation. 30 Sec. 08.76.460. Criminal liability. A person who violates AS 08.76.100 - 31 08.76.590 is guilty of a misdemeanor and upon conviction is punishable by a fine of
01 not more than $500, or by imprisonment for not more than six months, or by both. 02 Sec. 08.76.480. Municipal regulation. (a) Subject to (b) of this section, a 03 municipality with the authority under AS 29 to enact ordinances regulating 04 pawnbrokers and pawnbroker transactions may adopt an ordinance regulating 05 pawnbrokers and pawnbroker transactions if the ordinance complies with 06 AS 08.76.100 - 08.76.590. However, the ordinance may not be more restrictive than 07 AS 08.76.100 - 08.76.590. 08 (b) A municipality may not enact an ordinance that 09 (1) requires the payment of a fee or tax related to a pawnbroker 10 transaction; or 11 (2) restricts the hours of operation of a pawnbroker, except that an 12 ordinance may prohibit pawnbrokers from operating as provided under 13 AS 08.76.290(2). 14 (c) An ordinance that violates this section is void. 15 Sec. 08.76.490. Regulations. (a) The department may adopt regulations to 16 implement AS 08.76.100 - 08.76.590. 17 (b) Before the department adopts a regulation to implement AS 08.76.100 - 18 08.76.590, the department shall, in addition to any other requirements under AS 44.62 19 (Administrative Procedure Act), notify licensees of the proposed regulation. After the 20 regulation is adopted, the department shall send each licensee a copy of the regulation 21 adopted. 22 Sec. 08.76.500. Exemptions. This chapter does not apply to 23 (1) a financial institution that is subject to the regulation of the 24 department under AS 06, including a commercial bank, savings bank, credit union, 25 premium finance company, small loan company, bank holding company, financial 26 holding company, trust company, savings and loan association, and deferred deposit 27 advance licensee under AS 06.50; or 28 (2) a financial institution organized under federal law. 29 Sec. 08.76.590. Definitions. In AS 08.76.100 - 08.76.590, 30 (1) "amount financed" means the amount of money, excluding a 31 finance fee, charged by a pawnbroker for a pawn transaction;
01 (2) "business" includes advertising; 02 (3) "claim" means a claim under AS 08.76.370; 03 (4) "claimant" means a person who makes a claim; 04 (5) "department" means the Department of Commerce, Community, 05 and Economic Development; 06 (6) "evidentiary hold order" means an evidentiary hold order 07 authorized under AS 08.76.330; 08 (7) "finance fee" means all the amounts that a pawnbroker may charge 09 under AS 08.76.210; 10 (8) "governmental fee" means a fee imposed by a governmental 11 agency on a pawnbroker to hold or transfer a firearm or conduct a background check 12 required by the governmental agency; 13 (9) "grace period" means the 30-day period after a maturity date during 14 which a pawnbroker is required by AS 08.76.270(b) to retain possession of pledged 15 property; 16 (10) "hold order" means a police hold order or an evidentiary hold 17 order; 18 (11) "identification" means 19 (A) a government-issued identification document that contains 20 a photograph; or 21 (B) an electronic image of a document identified under (A) of 22 this paragraph; 23 (12) "knowingly" has the meaning given in AS 11.81.900; 24 (13) "law enforcement agency" means 25 (A) the police department of a municipality where a pawnshop 26 is located; 27 (B) the Department of Law; 28 (C) the Department of Public Safety; 29 (14) "law enforcement officer" means 30 (A) a police officer of the municipality where a pawnshop is 31 located; or
01 (B) a state trooper if a pawnshop is located in the unorganized 02 borough or if a pawnshop is located in a municipality that does not provide 03 police protection services; 04 (15) "law enforcement report" means a report required by 05 AS 08.76.410; 06 (16) "lease" means any form of rental; 07 (17) "license" means a license to engage in business as a pawnbroker 08 issued under AS 08.76.110; 09 (18) "licensee" means a person who holds a license; 10 (19) "maturity date" means the date by which a pledgor is required to 11 pay a pawnbroker the amount financed and the finance fee for a pawn transaction, but 12 does not include a grace period; 13 (20) "misappropriated" means pledged or sold to a pawnbroker 14 (A) after being stolen; or 15 (B) while being leased to the pledgor or seller by another 16 person if the property has a permanent label or other conspicuous mark 17 identifying it as another person's property; 18 (21) "pawnbroker" means a person who lends money in exchange for a 19 pledge of property; 20 (22) "pawnbroker transaction" means a pawn transaction or purchase; 21 (23) "pawn transaction" means a pledge given in exchange for a loan 22 by a pawnbroker; 23 (24) "personal property" means tangible personal property, but does 24 not include a security, a title to property, a deed, a bill of sale, or printed evidence of 25 indebtedness; 26 (25) "pledge" means a deposit of property as security for payment of 27 financial obligations to a pawnbroker in a pawn transaction; 28 (26) "pledged property" means the property that is pledged in a pawn 29 transaction; 30 (27) "pledgor" means 31 (A) a person who delivers property to a pawnbroker for a pawn
01 transaction; or 02 (B) the principal, if the person who delivers property to a 03 pawnbroker for a pawn transaction discloses that the delivery person is acting 04 for a principal; 05 (28) "police hold order" means a hold order authorized under 06 AS 08.76.320; 07 (29) "property" means personal property; 08 (30) "purchase" means a purchase of property by a pawnbroker that is 09 not a pawn transaction; 10 (31) "record" means the record required to be maintained by 11 AS 08.76.180; 12 (32) "redeem" means to obtain the return of pledged property under 13 AS 08.76.270; 14 (33) "registration fee" means a fee for registering a firearm; 15 (34) "seller" means a person who sells property to a pawnbroker, but 16 does not include a pledgor. 17 * Sec. 6. AS 08.76.010(b) and 08.76.040 are repealed. 18 * Sec. 7. The uncodified law of the State of Alaska is amended by adding a new section to 19 read: 20 TRANSITION: REGULATIONS. The Department of Commerce, Community, and 21 Economic Development may proceed to adopt regulations under AS 08.01.080 and 22 AS 08.76.490, enacted by sec. 5 of this Act, necessary to implement this Act. The regulations 23 take effect under AS 44.62 (Administrative Procedure Act), but not before July 1, 2011. 24 * Sec. 8. The uncodified law of the State of Alaska is amended by adding a new section to 25 read: 26 TRANSITION: CURRENT MUNICIPAL LICENSEES. (a) Notwithstanding 27 AS 08.76.100, enacted by sec. 5 of this Act, a person who holds a current municipal license 28 on July 1, 2011, may continue to engage in business as a pawnbroker through June 30, 2014, 29 without having a license issued by the Department of Commerce, Community, and Economic 30 Development. 31 (b) Notwithstanding AS 08.76.110, enacted by sec. 5 of this Act, the department shall
01 issue a license to a person who holds a municipal license if the person 02 (1) submits, before July 1, 2014, an application as required by the department 03 under AS 08.01.060; and 04 (2) pays a fee established by the department under AS 08.01.065. 05 (c) In this section, 06 (1) "license" has the meaning given in AS 08.76.590, enacted by sec. 5 of this 07 Act; 08 (2) "municipal license" means a license that is issued by a municipality to 09 authorize a person to engage in business as a pawnbroker; in this paragraph, "business" has 10 the meaning given in AS 08.76.590, enacted by sec. 5 of this Act; 11 (3) "pawnbroker" has the meaning given in AS 08.76.590, enacted by sec. 5 of 12 this Act. 13 * Sec. 9. The uncodified law of the State of Alaska is amended by adding a new section to 14 read: 15 TRANSITION: EXISTING ORDINANCES. An ordinance of a municipality that is in 16 effect on July 1, 2011, and that violates AS 08.76.480, enacted by sec. 5 of this Act, is void. 17 * Sec. 10. Section 7 of this Act takes effect immediately under AS 01.10.070(c). 18 * Sec. 11. Except as provided in sec. 10 of this Act, this Act takes effect July 1, 2011.