(a) The pledgor or seller shall sign a pawn ticket and receive an exact copy of the pawn ticket.

Terms Used In Minnesota Statutes 325J.05

  • Appropriate law enforcement agency: means the attorney general of the state of Minnesota, the sheriff of each county in which a pawnbroker maintains an office, or the police chief of the municipality or law enforcement officers of the municipality in which a pawnbroker maintains an office. See Minnesota Statutes 325J.01
  • pawnbroker: means a person engaged in whole or in part in the business of lending money on the security of pledged goods left in pawn, or in the business of purchasing tangible personal property to be left in pawn on the condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time. See Minnesota Statutes 325J.01

(b) The pawnbroker shall maintain on the premises a record of all transactions of pledged or purchased goods for a period of three years. These records shall be a correct copy of the entries made of the pawn transactions. A pawnbroker shall upon request provide to the appropriate law enforcement agency a complete and accurate record of pawn transactions. If the pawnbroker provides the records in a computerized format, they must be provided in the interchange file specification format.

(c) For purposes of paragraph (b), “interchange file specification format” means the most current version of the Minneapolis automated pawn system interchange file specification format.