Pawn Tickets - Definition

If a business offers secured loans to people, with items of personal property used as collateral, a Basic Business License for the Pawnbroker category is required. A Pawn Ticket, a receipt for articles taken as a security and acknowledgement that payment has been made, must be submitted with the application. Each pawn ticket shall be serially numbered by the printer, shall contain two (2) parts, one of which shall be retained by the licensee, at all times, and one of which shall be given to the pledgor at the time of the original pledge.

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