[Rev. 11/21/2013 12:59:37 PM--2013]

CHAPTER 646 - PAWNBROKERS

NRS 646.002           Definitions.

NRS 646.006           “Motor vehicle” defined.

NRS 646.010           “Pawnbroker” defined.

NRS 646.020           Record of transactions; certificate of right to pledge or sell property; inspection of record and goods.

NRS 646.030           Reports of transactions and stolen property to sheriffs and chiefs of police.

NRS 646.040           Retention and removal of property received in pledge.

NRS 646.045           Retention and removal of motor vehicles received in pledge.

NRS 646.047           Peace officer may place written hold on property received in pledge; procedure for peace officer to obtain custody of property; limitations on disposal of property; duties of peace officer and pawnbroker concerning property; immunity.

NRS 646.050           Rate of interest; period for redemption; printed receipts; charge for storage of motor vehicle.

NRS 646.060           Unlawful acts.

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      NRS 646.002  Definitions.  As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 646.006 and 646.010 have the meanings ascribed to them in those sections.

      (Added to NRS by 1997, 2545)

      NRS 646.006  “Motor vehicle” defined.  “Motor vehicle” means any self-propelled vehicle that is used upon a highway, but not operated on rails, for the purpose of transporting persons or property. The term does not include electric personal assistive mobility devices as defined in NRS 482.029.

      (Added to NRS by 1997, 2545; A 2003, 1207)

      NRS 646.010  “Pawnbroker” defined.  “Pawnbroker” means every person engaged, in whole or in part, in the business of loaning money on the security of pledges, deposits or other secured transactions in personal property.

      [1911 C&P § 206; RL § 6471; NCL § 10154]—(NRS A 1965, 944; 1997, 2546)

      NRS 646.020  Record of transactions; certificate of right to pledge or sell property; inspection of record and goods.

      1.  Every pawnbroker doing business in any incorporated city or unincorporated town in this State shall maintain in his or her place of business a book or other permanent record in which must be legibly written in the English language, at the time of each loan or purchase a record thereof containing:

      (a) The date and time of the transaction.

      (b) The name or other identification of the person or employee conducting the transaction.

      (c) The name, age, street and house number, the serial number of one piece of positive identification and a general description of the complexion, color of hair and facial appearance of the person with whom the transaction is had. In lieu of recording the serial number of a piece of positive identification, the record may contain an indication that the pawnbroker knows the person with whom the transaction is had.

      (d) A description of the property received in pledge. In the case of watches, the description must contain the name of the maker and the number of the works or the case. In the case of jewelry, all letters and marks inscribed thereon must be included in the description.

      (e) The amount loaned.

      (f) The number of any pawn ticket issued therefor.

      2.  The person with whom a transaction is had shall, at the time of the transaction, certify in writing that he or she has the legal right to pledge or sell the property.

      3.  The record and all goods received must at all times during the ordinary hours of business be open to the inspection of the prosecuting attorney or of any peace officer.

      [Part 1911 C&P § 200; A 1917, 410; 1919 RL § 6465; NCL § 10148] + [1911 C&P § 201; RL § 6466; NCL § 10149]—(NRS A 1983, 744; 1991, 374; 1995, 858; 2003, 20th Special Session, 16)

      NRS 646.030  Reports of transactions and stolen property to sheriffs and chiefs of police.

      1.  Every pawnbroker doing business in any unincorporated town shall, before 12 m. of each day, furnish in duplicate to the sheriff of the county a full, true and correct transcript of the record of all transactions had on the preceding day.

      2.  Every pawnbroker doing business in any incorporated city shall, before 12 m. of each day, furnish in duplicate to the chief of police thereof, a full, true and correct transcript of the record of all transactions had on the preceding day.

      3.  Every pawnbroker doing business in an unincorporated town or in an incorporated city having good cause to believe that any property in his or her possession has been previously lost or stolen shall forthwith report such fact to the sheriff or chief of police, respectively, together with the name of the owner if known, and the date when, and the name of the person from whom, the same was received by the pawnbroker.

      [1911 C&P § 202; A 1917, 410; 1919 RL § 6467; NCL § 10150]—(NRS A 1967, 178)

      NRS 646.040  Retention and removal of property received in pledge.  No property received in pledge by a pawnbroker may be removed from his or her place of business after the receipt of the property is reported to the sheriff or the chief of police as provided in this chapter, unless the property is:

      1.  Redeemed by the owner thereof; or

      2.  Released to the custody of a peace officer in the manner set forth in NRS 646.047.

      [Part 1911 C&P § 203; RL § 6468; NCL § 10151]—(NRS A 1983, 744; 1993, 2322; 1997, 2546; 1999, 755)

      NRS 646.045  Retention and removal of motor vehicles received in pledge.

      1.  A pawnbroker who receives a motor vehicle in pledge as security for a loan pursuant to NRS 646.050 may remove the motor vehicle from his or her place of business to a place used by the pawnbroker for the storage of motor vehicles received in pledge.

      2.  The pawnbroker:

      (a) Shall hold the motor vehicle at the place of storage for the same period that personal property must be held at his or her place of business pursuant to this chapter; and

      (b) May only remove the motor vehicle from the place of storage under the same conditions that personal property may be removed from his or her place of business pursuant to this chapter.

      (Added to NRS by 1997, 2546)

      NRS 646.047  Peace officer may place written hold on property received in pledge; procedure for peace officer to obtain custody of property; limitations on disposal of property; duties of peace officer and pawnbroker concerning property; immunity.

      1.  A peace officer who is involved in the investigation or prosecution of criminal activity may place a written hold on any property received in pledge by a pawnbroker that is related or allegedly related to the criminal activity.

      2.  While a hold is placed on property pursuant to this section, the pawnbroker who received the property in pledge shall not release or dispose of the property to any person other than the peace officer who placed the hold on the property. A peace officer who placed a hold on property may obtain custody of the property from the pawnbroker if the peace officer:

      (a) Has obtained written authorization from the prosecuting attorney which includes, without limitation, a description of the property and an acknowledgment of the pawnbroker’s interest in the property, and which provides that the pawnbroker must be notified pursuant to NRS 179.165, if applicable; and

      (b) Gives a copy of the written authorization to the pawnbroker.

      3.  Property received by a peace officer pursuant to this section may be disposed of only in the manner set forth in NRS 52.385 or 179.125 to 179.165, inclusive.

      4.  A peace officer who places a hold on property pursuant to this section shall notify the pawnbroker in writing when the investigation or prosecution has concluded or when the hold is no longer necessary, whichever occurs sooner.

      5.  If a person who deposited property with a pawnbroker in pledge attempts to redeem the property from the pawnbroker and a hold has been placed on the property pursuant to this section, the pawnbroker shall provide the person with the name of the peace officer who placed the hold on the property and the name of the employer of the peace officer who placed the hold on the property.

      6.  A pawnbroker and an employee of a pawnbroker who take any action required pursuant to this section are immune from civil liability for such action.

      (Added to NRS by 1999, 755)

      NRS 646.050  Rate of interest; period for redemption; printed receipts; charge for storage of motor vehicle.

      1.  A pawnbroker may charge and receive interest at the rate of 13 percent a month for money loaned on the security of personal property actually received in pledge, and a person shall not ask or receive a higher rate of interest or discount on any such loan, or on any actual or pretended sale or redemption of personal property. For any loan made, a pawnbroker may make an initial charge of $5 in addition to interest at the authorized rate.

      2.  All personal property must be held for redemption for at least 90 days after the date of pledge with any pawnbroker.

      3.  A pawnbroker shall give to the person securing the loan a printed receipt clearly showing the amount loaned and rate of interest, together with a description of the pledged property. The receipt must be marked in such a manner that the amounts of principal and interest paid by the person securing the loan can be clearly designated. Each payment must be entered upon the receipt, and each entry must designate how much of the payment is being credited to principal and how much to interest, with dates of payments shown thereon.

      4.  A pawnbroker shall not charge more than $3 per day for the storage of a motor vehicle which is collateral for a loan.

      [1911 C&P § 205; A 1951, 108]—(NRS A 1969, 389; 1977, 214; 1981, 1594; 1989, 851; 1993, 2322; 1997, 2546; 2011, 277)

      NRS 646.060  Unlawful acts.  A pawnbroker, and a clerk, agent or employee of a pawnbroker, is guilty of a misdemeanor if he or she:

      1.  Fails to make an entry of any material matter in a book or record kept as provided for in NRS 646.020.

      2.  Makes a false entry in the book or record.

      3.  Obliterates, destroys or removes from his or her place of business the book or record.

      4.  Refuses to allow the prosecuting attorney or a peace officer to inspect the book or record or any goods in his or her possession, during the ordinary hours of business.

      5.  Reports a material matter falsely to the sheriff or to the chief of police.

      6.  Fails to report immediately to the sheriff or to the chief of police the possession of property which he or she may have good cause to believe has been lost or stolen, together with the name of the owner, if known, and the date when and the name of the person from whom he or she received the property.

      7.  Removes property received or allows it to be removed from his or her place of business in violation of NRS 646.040.

      8.  Receives property from a person under the age of 18 years, common drunkard, habitual user of controlled substances, habitual criminal, habitual felon, habitually fraudulent felon, person in an intoxicated condition, known thief or receiver of stolen property, or known associate of a thief or receiver of stolen property, whether the person is acting in his or her own behalf or as the agent of another.

      9.  Violates any of the provisions of NRS 646.050.

      [Part 1911 C&P § 204; RL § 6469; NCL § 10152] + [2:92:1951]—(NRS A 1971, 2045; 1973, 1580; 1983, 745; 1987, 1573; 1993, 2322; 1995, 859, 1313; 1997, 2546)