Department of Commerce - Pawnbrokers - Purchases; list of property held for sale.


Published: 2017-11-30

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

(A) No owner, officer, member, partner, stockholder, agent, or employee of a licensee shall purchase personal property in circumvention of the record-keeping requirements of Chapter 4727. of the Revised Code.

(B) A licensee shall document the acquisition of all property held for sale on the licensed premises through a pawn ticket, purchase ticket, sales receipt, bill of sale, consignment agreement, or barter agreement. Consignment or barter agreements shall include the information listed in division (B) of section 4727.08 of the Revised Code.

(C) A licensee or employee shall require the pledgor to sign the completed pawn ticket, purchase ticket, sales receipt, bill of sale, consignment agreement, or barter agreement, and the signed forms shall be retained in accordance with section 4727.08 of the Revised Code.

(D) A licensee or employee shall document and keep a record of the name of the person redeeming the pawn, and the date and time that the pawn was redeemed. Such records shall be retained in accordance with section 4727.08 of the Revised Code.