Chapter 325J — Municipal Licensing and Regulation

325J.01 Definitions This section defines key terms used in the Minnesota pawnbroker law. It explains what a pawnbroker is, what a pawn … 325J.02 Municipal Licensing and Regulation Cities, towns, and counties in Minnesota can pass local laws to license and regulate pawnbrokers. No one can run a pawn … 325J.03 Licensee Eligibility To get or keep a pawnbroker license in Minnesota, a person must be at least 18 years old, have good moral character, and … 325J.04 Pawn Tickets Every pawn transaction must include a written pawn ticket that records details like a description of the item, the … 325J.05 Records; Retention The customer must sign the pawn ticket and receive an exact copy. Pawnbrokers must keep records of all pawn transactions … 325J.06 Effect of Nonredemption If you pawn an item, you are not required to pay back the loan or pick up your item. If you do not make a payment for at … 325J.07 Permitted Charges Pawnbrokers in Minnesota can charge up to 3% per month interest on a pawn loan, plus a reasonable fee for storage and … 325J.08 Records; Prohibitions This section lists things pawnbrokers cannot do. They cannot falsify records, refuse law enforcement inspections, accept … 325J.09 Redemption; Risk of Loss Only the person who pawned an item, or someone they authorized in writing, can pick up the pawned goods. If the … 325J.095 Motor Vehicle Title Pawn Transactions; Special Provisions When a pawn transaction involves a motor vehicle title, extra rules apply. The pawnbroker must also be licensed as a … 325J.10 This section has been repealed. It was removed from Minnesota law in 2011. 325J.11 Violation Breaking any rule in the Minnesota pawnbroker chapter is a misdemeanor crime. This applies to both pawnbrokers and … 325J.12 Transition When a city or county first passes a pawnbroker ordinance, existing pawn shops have six months to apply for a license … 325J.13 Ordinances; Consistency Local cities, towns, and counties can pass pawnbroker rules that are stricter than state law. However, local rules …