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MN SF955
Bill
Status
5/24/2011
Primary Sponsor
Dave Brown
Click for details
AI Summary
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Amends pawnbroker regulations to clarify that pledged goods cannot be removed from pawnshop premises until expiration of the redemption period, but allows return of goods to borrowers at any time during the redemption period.
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Permits pawnbrokers to sell or remove pledged goods from premises after the redemption period expires, and allows sale or removal of purchased goods (non-pawn transactions) 31 days or later from the purchase date.
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Modifies section 325J.13 to exclude clauses (7) and (10) of section 325J.08 from municipal preemption, allowing local ordinances to regulate pawnbroker operations more restrictively except for redemption and goods removal provisions.
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Repeals Minnesota Statutes 2010, section 325J.10, which previously restricted pawnbroker location near gambling casinos.
Legislative Description
Pawnbrokers pledged goods return regulations; location restrictions near gambling casinos repeal
Last Action
Governor approval
5/24/2011