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2018 Minnesota Statutes
Chapters 324 - 341 — TRADE REGULATIONS, CONSUMER PROTECTION
Chapter 325J — PAWNBROKERS
Section 325J.095 — MOTOR VEHICLE TITLE PAWN TRANSACTIONS; SPECIAL PROVISIONS.
Universal Citation: MN Stat § 325J.095 (2018)
325J.095 MOTOR VEHICLE TITLE PAWN TRANSACTIONS; SPECIAL PROVISIONS.
(a) In addition to the other requirements of this chapter, a pawnbroker who holds a title to a motor vehicle as part of a pawn transaction shall:
(1) be licensed as a used motor vehicle dealer under section 168.27, and post such license on the pawnshop premises;
(2) verify that there are no liens or encumbrances against the motor vehicle with the Department of Public Safety; and
(3) verify that the pledgor has automobile insurance on the motor vehicle as required by law.
(b) A pawnbroker may not sell a motor vehicle covered by a pawn transaction until 90 days after recovery of the motor vehicle.
History: 1996 c 404 s 10
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