MISSISSIPPI LEGISLATURE

1998 Regular Session

To: Business and Financial Institutions

By: Senator(s) Kirby

AN ACT TO REQUIRE CERTAIN LICENSED PAWNBROKERS, BEGINNING JULY 1, 1999, TO HAVE A COMPUTER SYSTEM IN OPERATION WHICH IS CAPABLE OF ELECTRONICALLY TRANSFERRING INFORMATION ON PLEDGED GOODS TO THE SHERIFF OR LOCAL LAW ENFORCEMENT AGENCY WHERE SUCH PAWNSHOP IS LOCATED; TO AMEND SECTION 75-67-309, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Beginning July 1, 1999, if so requested by the appropriate law enforcement agency in any county having a population in excess of eighty-seven thousand (87,000), according to the 1990 Federal Census or any subsequent Federal Census, each licensed pawnbroker shall have a computer system in operation which is capable of electronically transferring information on pledged goods to the sheriff or local law enforcement agency where such pawnshop is located.

SECTION 2. Section 75-67-309, Mississippi Code of 1972, is amended as follows:

75-67-309. (1) The pledgor or seller shall sign a statement verifying that the pledgor or seller is the rightful owner of the goods or is entitled to sell or pledge the goods 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.

(2) The pawnbroker shall maintain a record of all transactions of pledged or purchased goods on the premises. A pawnbroker shall upon request provide to the appropriate law enforcement agency a complete record of all transactions. These records shall be a correct copy of the entries made of the pawn or purchase transaction, except as to the amount of cash advanced or paid for the goods and monthly pawnshop charge.

(3) All goods purchased across the counter by the pawnbroker shall be maintained on the premises by the pawnbroker for at least twenty-one (21) calendar days before such goods can be offered for resale.

(4) In lieu of the required delivery of copies of records under subsection (2) of this section, a pawnbroker, upon request by the appropriate law enforcement agency, may transmit the required information electronically to the law enforcement agency via modem or may deliver the required information to the law enforcement agency on a computer diskette, provided the method of delivery is compatible with the equipment and systems utilized by the law enforcement agency for the receipt of such information and provided, further, that the pawnbroker retains the original information on his premises, carefully preserves the same without alteration, and makes them available during regular business hours for inspection by the law enforcement agency.

SECTION 3. This act shall take effect and be in force from and after July 1, 1998.