GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2007
SESSION LAW 2007-415
SENATE BILL 806
AN ACT to lengthen the time goods purchased by pawnbrokers must be held before resale.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 91A-10(7) reads as rewritten:
A pawnbroker shall not:
…
(7) Sell, exchange,
barter, or remove from the pawnshop any goods pledged, pawned, or purchased earlier
than 48 hours before the earlier of seven days after the date the pawn
ticket record is electronically reported in accordance with G.S. 91A-7(d)
or 30 days after the transaction, except in case of redemption by pledgor
or items purchased for resale from wholesalers;
…."
SECTION 2. G.S. 91A-7(d) reads as rewritten:
"(d) The pledgor shall
sign the pawn ticket and shall receive an exact copy of the pawn ticket which
shall be signed or initialed by the pawnbroker or any employee of the
pawnbroker. These records shall be available for inspection and pickup each
regular workday by the sheriff of the county county, or the
sheriff's designee or the chief of police police, or the
chief's designee of the municipality in which the pawnshop is located. These
records may be electronically reported to the sheriff of the county or the
chief of police of the municipality in which the pawnshop is located by
transmission over the Internet or by facsimile transmission in a manner
authorized by the applicable sheriff or chief of police. These records
shall be a correct copy of the entries made of the pawn or purchase transaction
and shall be carefully preserved without alteration, and shall be available
during regular business hours."
SECTION 3. This act becomes effective October 1, 2007, and applies to goods taken by a pawnbroker in pledge, pawn, or purchase on or after that date.
In the General Assembly read three times and ratified this the 31st day of July, 2007.
s/ Beverly E. Perdue
President of the Senate
s/ Joe Hackney
Speaker of the House of Representatives
s/ Michael F. Easley
Governor
Approved 2:58 p.m. this 21st day of August, 2007