As used in this chapter, the following terms shall have the
meanings indicated:
PAWNBROKER
Any person, corporation or other legal entity engaged in
the business of lending money secured by taking possession of personal
property, with the right to sell the personal property if it is not
redeemed. A person, corporation or other legal entity shall be deemed
to be a pawnbroker whether the transaction takes the form of a loan
the pawnbroker secured by the property, or a sale to the pawnbroker
with the right to repurchase within a stated period of time.
This chapter shall not cover persons, corporations or other
legal entities that sell items covered by this chapter but purchase
the same from dealers, manufacturers or wholesalers and do not purchase
such items from the public nor to the provisions of MGL c. 140, §§ 76
and 86 to 112, inclusive.
The Board of License Commissioners may license suitable persons
to carry on the business of pawnbrokers. The fee shall be $100. Each
licensee shall file a bond with the Board of License Commissioners
in the sum of $300, with two sureties approved by the Board of License
Commissioners. The Board of License Commissioners may revoke any license
at its pleasure.
All nonperishable articles deposited in pawn with a pawnbroker
shall be kept at least four months after the date of deposit. All
perishable articles shall be kept at least one month after the date
of deposit. The provisions of MGL c. 140, § 71 shall apply
to all items held beyond the above time periods.
Pawnbrokers shall photograph and thumbprint any person pawning
articles, which shall be kept as part of the records of the pawnbroker.
The Chief of Police or the Board of License Commissioners may
at reasonable times enter a pawnbroker's premises and inspect his
books and articles taken into pawn.