2005 Nevada Revised Statutes - Chapter 646 — Pawnbrokers

CHAPTER 646 - PAWNBROKERS

NRS 646.002 Definitions.

NRS 646.006 Motorvehicle defined.

NRS 646.010 Pawnbrokerdefined.

NRS 646.020 Recordof transactions; certificate of right to pledge or sell property; inspection ofrecord and goods.

NRS 646.030 Reportsof transactions and stolen property to sheriffs and chiefs of police.

NRS 646.040 Retentionand removal of property received in pledge.

NRS 646.045 Retentionand removal of motor vehicles received in pledge.

NRS 646.047 Peaceofficer may place written hold on property received in pledge; procedure forpeace officer to obtain custody of property; limitations on disposal ofproperty; duties of peace officer and pawnbroker concerning property; immunity.

NRS 646.050 Rateof interest; period for redemption; printed receipts; charge for storage ofmotor vehicle.

NRS 646.060 Unlawfulacts.

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NRS 646.002 Definitions. As used in this chapter, unless the context otherwiserequires, the words and terms defined in NRS646.006 and 646.010 have themeanings ascribed to them in those sections.

(Added to NRS by 1997, 2545)

NRS 646.006 Motorvehicle defined. Motor vehicle means anyself-propelled vehicle that is used upon a highway, but not operated on rails,for the purpose of transporting persons or property. The term does not includeelectric personal assistive mobility devices as defined in NRS 482.029.

(Added to NRS by 1997, 2545; A 2003, 1207)

NRS 646.010 Pawnbrokerdefined. Pawnbroker means every personengaged, in whole or in part, in the business of loaning money on the securityof pledges, deposits or other secured transactions in personal property.

[1911 C&P 206; RL 6471; NCL 10154](NRS A1965, 944; 1997, 2546)

NRS 646.020 Recordof transactions; certificate of right to pledge or sell property; inspection ofrecord and goods.

1. Every pawnbroker doing business in any incorporatedcity or unincorporated town in this State shall maintain in his place ofbusiness a book or other permanent record in which must be legibly written inthe English language, at the time of each loan or purchase a record thereofcontaining:

(a) The date and time of the transaction.

(b) The name or other identification of the person oremployee conducting the transaction.

(c) The name, age, street and house number, the serialnumber of one piece of positive identification and a general description of thecomplexion, color of hair and facial appearance of the person with whom thetransaction is had. In lieu of recording the serial number of a piece ofpositive identification, the record may contain an indication that thepawnbroker knows the person with whom the transaction is had.

(d) A description of the property received in pledge.In the case of watches, the description must contain the name of the maker andthe number of the works or the case. In the case of jewelry, all letters andmarks inscribed thereon must be included in the description.

(e) The amount loaned.

(f) The number of any pawn ticket issued therefor.

2. The person with whom a transaction is had shall, atthe time of the transaction, certify in writing that he has the legal right topledge or sell the property.

3. The record and all goods received must at all timesduring the ordinary hours of business be open to the inspection of theprosecuting attorney or of any peace officer.

[Part 1911 C&P 200; A 1917, 410; 1919 RL 6465; NCL 10148] + [1911 C&P 201; RL 6466; NCL 10149](NRS A 1983,744; 1991, 374; 1995, 858; 2003, 20th SpecialSession, 16)

NRS 646.030 Reportsof transactions and stolen property to sheriffs and chiefs of police.

1. Every pawnbroker doing business in anyunincorporated town shall, before 12 m. of each day, furnish in duplicate tothe sheriff of the county a full, true and correct transcript of the record ofall transactions had on the preceding day.

2. Every pawnbroker doing business in any incorporatedcity shall, before 12 m. of each day, furnish in duplicate to the chief ofpolice thereof, a full, true and correct transcript of the record of alltransactions had on the preceding day.

3. Every pawnbroker doing business in anunincorporated town or in an incorporated city having good cause to believethat any property in his possession has been previously lost or stolen shallforthwith report such fact to the sheriff or chief of police, respectively,together with the name of the owner if known, and the date when, and the nameof the person from whom, the same was received by him.

[1911 C&P 202; A 1917, 410; 1919 RL 6467; NCL 10150](NRS A 1967, 178)

NRS 646.040 Retentionand removal of property received in pledge. Noproperty received in pledge by a pawnbroker may be removed from his place ofbusiness after the receipt of the property is reported to the sheriff or thechief of police as provided in this chapter, unless the property is:

1. Redeemed by the owner thereof; or

2. Released to the custody of a peace officer in themanner set forth in NRS 646.047.

[Part 1911 C&P 203; RL 6468; NCL 10151](NRS A 1983, 744; 1993, 2322; 1997, 2546; 1999, 755)

NRS 646.045 Retentionand removal of motor vehicles received in pledge.

1. A pawnbroker who receives a motor vehicle in pledgeas security for a loan pursuant to NRS646.050 may remove the motor vehicle from his place of business to a placeused by the pawnbroker for the storage of motor vehicles received in pledge.

2. The pawnbroker:

(a) Shall hold the motor vehicle at the place ofstorage for the same period that personal property must be held at his place ofbusiness pursuant to this chapter; and

(b) May only remove the motor vehicle from the place ofstorage under the same conditions that personal property may be removed fromhis place of business pursuant to this chapter.

(Added to NRS by 1997, 2546)

NRS 646.047 Peaceofficer may place written hold on property received in pledge; procedure forpeace officer to obtain custody of property; limitations on disposal ofproperty; duties of peace officer and pawnbroker concerning property; immunity.

1. A peace officer who is involved in theinvestigation or prosecution of criminal activity may place a written hold onany property received in pledge by a pawnbroker that is related or allegedlyrelated to the criminal activity.

2. While a hold is placed on property pursuant to thissection, the pawnbroker who received the property in pledge shall not releaseor dispose of the property to any person other than the peace officer whoplaced the hold on the property. A peace officer who placed a hold on propertymay obtain custody of the property from the pawnbroker if the peace officer:

(a) Has obtained written authorization from theprosecuting attorney which includes, without limitation, a description of theproperty and an acknowledgment of the pawnbrokers interest in the property,and which provides that the pawnbroker must be notified pursuant to NRS 179.165, if applicable; and

(b) Gives a copy of the written authorization to thepawnbroker.

3. Property received by a peace officer pursuant tothis section may be disposed of only in the manner set forth in NRS 52.385 or 179.125 to 179.165, inclusive.

4. A peace officer who places a hold on propertypursuant to this section shall notify the pawnbroker in writing when theinvestigation or prosecution has concluded or when the hold is no longernecessary, whichever occurs sooner.

5. If a person who deposited property with apawnbroker in pledge attempts to redeem the property from the pawnbroker and ahold has been placed on the property pursuant to this section, the pawnbrokershall provide the person with the name of the peace officer who placed the holdon the property and the name of the employer of the peace officer who placedthe hold on the property.

6. A pawnbroker and an employee of a pawnbroker whotake any action required pursuant to this section are immune from civilliability for such action.

(Added to NRS by 1999, 755)

NRS 646.050 Rateof interest; period for redemption; printed receipts; charge for storage ofmotor vehicle.

1. A pawnbroker may charge and receive interest at therate of 10 percent a month for money loaned on the security of personalproperty actually received in pledge, and a person shall not ask or receive ahigher rate of interest or discount on any such loan, or on any actual orpretended sale or redemption of personal property. For any loan made, apawnbroker may make an initial charge of $5 in addition to interest at theauthorized rate.

2. All personal property must be held for redemptionfor at least 120 days after the date of pledge with any pawnbroker.

3. A pawnbroker shall give to the person securing theloan a printed receipt clearly showing the amount loaned and rate of interest,together with a description of the pledged property. The receipt must be markedin such a manner that the amounts of principal and interest paid by the personsecuring the loan can be clearly designated. Each payment must be entered uponthe receipt, and each entry must designate how much of the payment is beingcredited to principal and how much to interest, with dates of payments shownthereon.

4. A pawnbroker shall not charge more than $3 per dayfor the storage of a motor vehicle which is collateral for a loan.

[1911 C&P 205; A 1951, 108](NRS A 1969, 389;1977, 214; 1981, 1594; 1989, 851; 1993, 2322; 1997, 2546)

NRS 646.060 Unlawfulacts. A pawnbroker, and a clerk, agent oremployee of a pawnbroker, is guilty of a misdemeanor if he:

1. Fails to make an entry of any material matter inhis book or record kept as provided for in NRS646.020.

2. Makes a false entry in his book or record.

3. Obliterates, destroys or removes from his place ofbusiness the book or record.

4. Refuses to allow the prosecuting attorney or apeace officer to inspect the book or record or any goods in his possession,during the ordinary hours of business.

5. Reports a material matter falsely to the sheriff orto the chief of police.

6. Fails to report immediately to the sheriff or tothe chief of police the possession of property which he may have good cause tobelieve has been lost or stolen, together with the name of the owner, if known,and the date when and the name of the person from whom he received theproperty.

7. Removes property received or allows it to beremoved from his place of business in violation of NRS 646.040.

8. Receives property from a person under the age of 18years, common drunkard, habitual user of controlled substances, habitualcriminal, habitual felon, habitually fraudulent felon, person in an intoxicatedcondition, known thief or receiver of stolen property, or known associate of athief or receiver of stolen property, whether the person is acting in his ownbehalf or as the agent of another.

9. Violates any of the provisions of NRS 646.050.

[Part 1911 C&P 204; RL 6469; NCL 10152] +[2:92:1951](NRS A 1971, 2045; 1973, 1580; 1983, 745; 1987, 1573; 1993, 2322;1995, 859, 1313; 1997, 2546)

 

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