MI HB5920

Expands the definition of activities requiring a pawnbroker license to include conducting business as a pawnbroker, using "pawn" or "pawnbroker" in a business name, and advertising or representing oneself as a pawnbroker.

Exempts internet drop-off stores from pawnbroker licensing if they meet specified conditions, including exclusive internet-based transactions, searchable website inventory by zip code or state, and 2-year record retention with item descriptions and identifying information.

Requires internet drop-off stores to provide local police with business names, premises access during business hours, transaction details within 24 hours of request, and payment only by check or electronic means (not cash).

Establishes that registration under the precious metal and gem dealer act or the secondhand dealer act does not exempt a person from obtaining a pawnbroker license.

Increases criminal penalties for pawnbroker licensing violations to misdemeanor charges with imprisonment of 10-90 days or fines of $25-$100, with enhanced penalties of $1,000-$2,500 for second or subsequent violations of unlicensed pawnbroking.