Colorado Criminal Law – Understanding the Crime of False Information to a Pawnbroker – How Pawnbrokers Work in Colorado 12-56-104 (5) CRS
Pawnbrokers. 12-56-104 (5)
Any customer who knowingly gives false information with respect to the information a pawnbroker is required to obtain and keep, commits a class 6 felony. 12-56-104 (5)
Pawnbrokers Are Not Licensed by the State of Colorado. Licensing and Regulating Authority Has Been Delegated to Local Authorities, Which must Be at Least as Restrictive as State Law, 12-56-101 to 118 Crs, Which Establishes Mandatory Pawnbroker Guidelines
A pawnbroker is anyone who advances money to a customer on the delivery of tangible personal property by the customer with the condition that the customer may repay the fixed price within a fixed period of time.
The pawnbroker must keep a register in which is recorded: Name, address, and date of birth of the customer. Customer’s drivers license number or other identification number. Date, time and place of the contract. Accurate, detailed account and description of each item of tangible personal property.
The pawnbroker must obtain a written declaration of the customer’s ownership of the tangible personal property.
The customer must sign the register and the declaration of ownership, and receive a copy of the contract or receipt.
This register must be made available to any local law enforcement agency for inspection at any time. The register must be kept for at least 3 years after date of last transaction entered.
The pawnbroker must hold all goods for a period of at least 10 days after the maturity date of the contract. Any goods purchased rather than contracted for must be held for 30 days after date of purchase.
The pawnbroker must provide the local law enforcement agency with a weekly report of all tangible personal property accepted during the preceding week, and with one copy of the customer’s declaration of ownership.
Pawnbrokers are prohibited from:
Entering into a contract with anyone under the age of 18 years. Entering into two contracts with same customer on same day where the result is that the pawnbroker obtains more money than if one contract had been entered into. Violating the terms of the contract. Violation is a Class 2 misdemeanor.
