Louisiana Revised Statutes 37:1785 – Licensing of pawnbrokers; limit to location
Terms Used In Louisiana Revised Statutes 37:1785
- Commissioner: means the commissioner of the Office of Financial Institutions within the office of the governor. See Louisiana Revised Statutes 37:1782
- License: means the certificate of authority to operate a pawnshop as issued by the commissioner. See Louisiana Revised Statutes 37:1782
- Pawnbroker: means a person who lends money on a deposit or pledge or who takes other things into possession as security for money advanced or who makes a public display at his place of business of the sign generally used by pawnbrokers to denote his business, namely, three gilt or yellow balls, or who publicly exhibits a sign that money is to be loaned on things on deposit. See Louisiana Revised Statutes 37:1782
- Pawnshop: means the location at which, or premises upon which, a pawnbroker regularly conducts business. See Louisiana Revised Statutes 37:1782
- Person: means natural and juridical persons. See Louisiana Revised Statutes 37:1782
A. No person shall do business as a pawnbroker without having first obtained the license required by La. Rev. Stat. 47:341 et seq. and as further required by this Part. A separate license is required for each pawnshop. The commissioner shall issue one or more licenses to a person if that person complies with the licensing requirements of this Part for each license. Each license shall remain in full force and effect until surrendered, suspended, revoked, or expired.
B. A pawnshop license shall constitute a license to operate both as a pawnshop and as a new and secondhand dealer. A pawnbroker operating under a license issued pursuant to this Part shall not be required to obtain an additional new or secondhand dealer’s license or post additional bond but shall be subject to all other requirements of secondhand dealers as set forth in La. Rev. Stat. 37:1861 et seq.
C.(1) No license shall be granted to any person whose designated place of business is situated within three hundred feet or less of any official gaming establishment or designated docking facility of a riverboat licensed to conduct gaming activities or gaming operations pursuant to Chapter 4 or 5 of Title 27 of the Louisiana Revised Statutes of 1950. As to official gaming establishments, this distance shall be measured as a person walks using the sidewalk from the nearest point of the property line of the official gaming establishment to the nearest point of the designated place of business. As to docking facilities, this distance shall be measured in a straight line from the nearest point of the docking facility to the nearest point of the designated place of business.
(2) The subsequent construction, erection, development, or movement of an official gaming establishment or designated docking facility which causes a licensee’s occupied designated place of business to be located within the prohibited distance shall not be cause for the revocation, withholding, denial, or nonrenewal of a license.
Acts 1993, No. 391, §1, eff. Sept. 1, 1993; Acts 1993, No. 747, §1; Acts 1995, No. 1062, §1, eff. June 29, 1995; Acts 2012, No. 220, §3, eff. May 22, 2012.