§ 91A-7. Record keeping requirements. - North Carolina Statutes

§ 91A‑7.  Record keepingrequirements.

(a)        Every pawnbrokershall keep consecutively numbered records of each and every pawn transaction,which shall correspond in all essential particulars to a detachable pawn ticketor copy thereof attached to the record.

(b)        The pawnbrokershall, at the time of making the pawn or purchase transaction, enter upon thepawn ticket a record of the following information which shall be typed orwritten in ink and in the English language:

(1)        A clear and accuratedescription of the property, including model and serial number if indicated onthe property;

(2)        The name, residenceaddress, phone number, and date of birth of pledgor;

(3)        Date of the pawntransaction;

(4)        Type ofidentification and the identification number accepted from pledgor;

(5)        Description of thepledgor including approximate height, weight, sex, and race;

(6)        Amount of moneyadvanced;

(7)        The date due and theamount due;

(8)        All monthly pawncharges, including interest, annual percentage rate on interest, and totalrecovery fee; and

(9)        Agreed upon"stated value" between pledgor and pawnbroker in case of loss ordestruction of pledged item; unless otherwise noted, "stated value"is the same as the loan value.

(c)        The following shallbe printed on all pawn tickets:

(1)        The statement that"ANY PERSONAL PROPERTY PLEDGED TO A PAWNBROKER WITHIN THIS STATE ISSUBJECT TO SALE OR DISPOSAL WHEN THERE HAS BEEN NO PAYMENT MADE ON THE ACCOUNTFOR A PERIOD OF 60 DAYS PAST MATURITY DATE OF THE ORIGINAL CONTRACT. NO FURTHERNOTICE IS NECESSARY.";

(2)        The statement that"THE PLEDGOR OF THIS ITEM ATTESTS THAT IT IS NOT STOLEN, HAS NO LIENS ORENCUMBRANCES, AND IS THE PLEDGOR'S TO SELL OR PAWN.";

(3)        The statement that"THE ITEM PAWNED IS REDEEMABLE ONLY BY THE BEARER OF THIS TICKET OR BYIDENTIFICATION OF THE PERSON MAKING THE PAWN."; and

(4)        A blank line for thepledgor's signature and the pawnbroker's signature or initials.

(d)        The pledgor shallsign the pawn ticket and shall receive an exact copy of the pawn ticket whichshall be signed or initialed by the pawnbroker or any employee of thepawnbroker. These records shall be available for inspection and pickup eachregular workday by the sheriff of the county, or the sheriff's designee or thechief of police, or the chief's designee of the municipality in which thepawnshop is located. These records may be electronically reported to thesheriff of the county or the chief of police of the municipality in which thepawnshop is located by transmission over the Internet or by facsimiletransmission in a manner authorized by the applicable sheriff or chief ofpolice. These records shall be a correct copy of the entries made of the pawnor purchase transaction and shall be carefully preserved without alteration,and shall be available during regular business hours.

(e)        Except as otherwiseprovided in this Chapter, any person presenting a pawn ticket to a pawnbrokeris presumed to be entitled to redeem the pledged goods described on the ticket.(1989, c. 638,s. 2; 2007‑415, s. 2.)