A. In addition to any occupational or other license required by the local government, every pawnbroker shall obtain a pawnbroker permit from his local government, and that permit shall be conspicuously displayed in the pawnbroker's place of business. Said permit will expire on July 1 of each year and must be renewed by that date. Upon obtaining the permit, every pawnbroker shall register with the local law enforcement agency.
B. The local government may impose upon pawnbrokers a pawnbroker permit fee, in an amount to be set by the local government, to cover the expense of administration of the Pawnbrokers Act. No person who has been convicted of a felony shall be eligible for a permit.
C. Doing business as a pawnbroker without a permit constitutes a violation of this section and is subject to the general penalty provisions of the Pawnbrokers Act.
History: Laws 1985, ch. 228, § 4.
Cross references. — For general penalties, see 56-12-15 NMSA 1978.
Structure New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Section 56-12-1 - Short title.
Section 56-12-2 - Definitions.
Section 56-12-4 - Permits required; inspection fee; penalty.
Section 56-12-5 - Administration; applicability of other laws.
Section 56-12-6 - Pawnbroker; bond required.
Section 56-12-7 - Application for permit; requirements.
Section 56-12-8 - Suspension or revocation of permit; notice; hearing.
Section 56-12-9 - Pawnbroker reports; records; delivery; violations.
Section 56-12-10 - Pawn ticket.
Section 56-12-11 - Default; disposition of pledged property.
Section 56-12-12 - Record of disposition of pledged property.
Section 56-12-13 - Pawn service charge.
Section 56-12-14 - Prohibited practices.