CT HB06564

Secondhand dealers and precious metals or stones dealers licensed as pawnbrokers may continue using pawnbroker payment methods for property received under their respective dealer licenses, effective July 1, 2021.

Licensees must deliver a receipt to sellers at the time of purchase containing transaction details, amount paid, and the purchaser's name and address.

Licensees must submit sworn statements to the licensing authority on a weekly or more frequent basis in electronic format, describing purchased property, transaction terms, and seller information; such statements are not public records under the Freedom of Information Act.

Licensees cannot sell or dispose of acquired property (excluding bullion or coins) for less than ten days after the transaction, and licensing authorities cannot require retention longer than ten days; exemptions may be granted for good cause.