HB 5795 Summary

• Establishes unified licensing requirements for pawnbrokers, secondhand dealers, and precious metals/stones dealers, administered by local licensing authorities (police chiefs or Commissioner of Public Safety if no local police department exists).

• Requires computerized record-keeping systems with detailed descriptions, digital photographs, and tagging of all merchandise; records must be retained for at least two years and submitted weekly to licensing authorities in electronic format.

• Mandates identity verification with photo identification and date of birth for all persons selling/pawning property; prohibits transactions with minors unless accompanied by parent or guardian.

• Changes pawnbroker holding period from two months to sixty days before sale; requires check, draft, or money order payment (no cash except when cashing instruments); limits pawnbroker checks to maximum $1,000 per transaction.

• Increases penalties to Class D felonies for unlicensed operation; requires background checks and disclosure of all business locations and internet accounts; establishes 90-day initial application review and 30-day renewal review timelines with Superior Court appeal rights.