HB 1544 Summary

• Amends Arkansas law to allow property owners to recover stolen goods from pawnbrokers and secondhand dealers without charge by signing an affidavit establishing ownership, addressing a constitutional deficiency identified in Landers v. Jameson (2003)

• Requires dealers to hold purchased or pawned property for at least 15 calendar days (or 7 days after police reporting, whichever is first) before disposal, unless redeemed by the seller or returned to the rightful owner

• Mandates dealers deliver written notice (in 12-point bold type) to property owners explaining their rights to recover identifiable stolen property, including the affidavit process and the seven-day deadline for the dealer to either release property or file a legal action

• Requires dealers to deliver identifiable stolen property to owners within seven days of receiving an affidavit and law enforcement release, or face liability for costs and attorney's fees in replevin actions; property acquired from family members or friends requires owner reimbursement to the dealer

• Prohibits dealers from purchasing property from unemancipated minors or defacing identifiable stolen property, with violations classified as Class C misdemeanors