CT SB00954

Removes the July 1, 2021 expiration date, allowing secondhand dealers and precious metals or stones dealers previously licensed as pawnbrokers to permanently pay cash for property received under their current licenses.

Requires pawnbrokers to include property record-keeping numbers on all checks, drafts, or money orders used to pay for property and retain electronic copies for inspection.

Lowers the maximum amount pawnbrokers can cash for checks, drafts, or money orders they issue from $1,000 to $500.

Prohibits structuring transactions to avoid the $500 cashing limit and requires aggregating multiple transactions between a pawnbroker and the same party within a 24-hour period as a single transaction.

All provisions take effect October 1, 2019.