Colorado § 29-11.9-103 - Required acts of pawnbrokers.

§ 29-11.9-103. Required acts of pawnbrokers.

(1) A pawnbroker shall record the following information in a register, as described in section 18-16-105: The name, address, and date of birth of the customer and the driver's license number or other identification number from any other form of identification that is allowed for the sale of valuable articles pursuant to section 18-16-103 or for the sale of secondhand property pursuant to section 18-13-114; the date, time, and place of the contract for purchase or purchase transaction; an accurate and detailed account and description of each item of tangible personal property, including but not limited to any trademark, identification number, serial number, model number, brand name, or other identifying marks on such property; and, for a store credit, gift card, or merchandise card, the identification number, name of the retailer, and the value of credit or card. The pawnbroker shall also obtain a written declaration of the customer's ownership, which shall state that the tangible personal property is totally owned by the customer, or shall have attached to the declaration a power of sale from the partial owner to the customer, how long the customer has owned the property, whether the customer or someone else found the property, and, if the property was found, the details of the finding.

(2) The customer shall sign the electronic record and the declaration of ownership and shall receive a copy of the contract for purchase or a receipt of the purchase transaction.

(3) The electronic record, as well as a copy of the contract for purchase or a receipt of the purchase transaction, shall be made accessible to any local law enforcement agency for inspection at any reasonable time.

(4) The pawnbroker shall keep each electronic record for at least three years after the date of the last transaction entered in the register.

(5) A pawnbroker shall hold all contracted goods within his or her jurisdiction for a period of ten days following the maturity date of the contract for purchase, during which time the goods shall be held separate and apart from any other tangible personal property and shall not be changed in form or altered in any way.

(6) A pawnbroker shall hold all property purchased by him or her through a purchase transaction for thirty days following the date of purchase, during which time such property shall be held separate and apart from any other tangible personal property and shall not be changed in form or altered in any way.

(7) (a) Every pawnbroker shall provide the local law enforcement agency, on a weekly basis, with two records, on a form to be provided or approved by the local law enforcement agency, of all tangible personal property accepted during the preceding week and one copy of the customer's declaration of ownership. The form shall contain the same information required to be recorded in the pawnbroker's register or other tangible or electronic record pursuant to subsection (1) of this section. The local law enforcement agency shall designate the day of the week on which the records and declarations shall be submitted.

(b) A local law enforcement agency is not required to use the information submitted pursuant to subsection (7)(a) of this section to provide a benefit to the general public. The state and local governments may enact no further fees, charges, or taxes related to the use of the information provided to local law enforcement.

Source: L. 2017: Entire article added with relocated provisions, (SB 17-228), ch. 246, p. 1039, § 3, effective August 9. L. 2019: (1) to (4) amended, (SB 19-014), ch. 87, p. 323, § 3, effective August 2.

Editor's note: This section is similar to former § 12-56-103 as it existed prior to 2017.

ANNOTATION

Law reviews. For article, "Discharge of Security Transactions", see 26 Rocky Mt. L. Rev. 115 (1954).

Purposes of the statutory scheme include allowing law enforcement to track and recover stolen tangible personal property and assisting law enforcement in apprehending those trafficking in stolen property. Pro's Closet, Inc. v. City of Boulder, 2019 COA 128, 457 P.3d 763.

Person who knowingly provides false information with respect to any item of information required by former § 12-56-103 (1) is punishable pursuant to former § 12-56-104 (5). Use of word "and" in the phrase, "and, if the property was found," does not require a person to knowingly provide false information with respect to each and every item of information to be guilty of such charge. People v. Richards, 23 P.3d 1223 (Colo. 2000) (decided under former law).