Guam § 49103 - Pawnbrokers, What Charges May Make.

§ 49103. Pawnbrokers, What Charges May Make.

Notwithstanding any other provision of law, a pawnbroker may charge

for pawn loans, including consumer loans:

COL070307

CH. 49 PAWNBROKERS & JUNK DEALERS

(a) A pawnbroker may legally charge interest at the rate of up to

three percent (3%) per calendar month or part thereof on the first $300

outstanding on any loan, and two percent (2%) per calendar month or

part thereof on balances of loans in excess of $300.00.

(b) In addition to the interest and other charges allowed herein, a

pawnbroker may charge a set-up and loan origination charge of Ten

dollars ($10.00), or such minimum charge as may be permitted to be

charged by any bank, finance company, or small loan company

pursuant to any law or regulation, whichever is greater.

(c) In addition to the interest and other charges allowed herein, a

pawnbroker may charge up to fifty cents ($.50) per day per item

pawned for storage, insurance, and handling. Such amount shall be dis-

closed in writing to the pledgor, but need not be treated as interest in

computing the rate of interest to be disclosed to the pledgor by the

pawnbroker.