H 4709 General Bill, By Limehouse, R.C. Fulmer and Sandifer
 A Bill to amend Section 40-39-70, as amended, Code of Laws of South Carolina,
 1976, relating to certain records a pawnbroker shall keep, so as to provide
 that pawnbroker's record of a loan transaction must include the manufacturer's
 name and the make, model number, and serial number for all goods, articles, or
 things pawned, pledged, or purchased, and to require a pawnbroker to give a
 record of all goods, articles, or things pawned or pledged to certain law
 enforcement agencies on a monthly basis; and to amend Section 40-39-140, as
 amended, relating to a pawnbroker's acceptance of property owned by a third
 party, so as to require pawnbrokers not to accept equipment when the serial
 number has been removed from the equipment and to provide a penalty for a
 violation of this provision.

   03/06/96  House  Introduced and read first time HJ-21
   03/06/96  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-22

A BILL

TO AMEND SECTION 40-39-70, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CERTAIN RECORDS A PAWNBROKER SHALL KEEP, SO AS TO PROVIDE THAT A PAWNBROKER'S RECORD OF A LOAN TRANSACTION MUST INCLUDE THE MANUFACTURER'S NAME AND THE MAKE, MODEL NUMBER, AND SERIAL NUMBER FOR ALL GOODS, ARTICLES, OR THINGS PAWNED, PLEDGED, OR PURCHASED, AND TO REQUIRE A PAWNBROKER TO GIVE A RECORD OF ALL GOODS, ARTICLES, OR THINGS PAWNED OR PLEDGED TO CERTAIN LAW ENFORCEMENT AGENCIES ON A MONTHLY BASIS; AND TO AMEND SECTION 40-39-140, AS AMENDED, RELATING TO A PAWNBROKER'S ACCEPTANCE OF PROPERTY OWNED BY A THIRD PARTY, SO AS TO REQUIRE PAWNBROKERS NOT TO ACCEPT EQUIPMENT WHEN THE SERIAL NUMBER HAS BEEN REMOVED FROM THE EQUIPMENT AND TO PROVIDE A PENALTY FOR A VIOLATION OF THIS PROVISION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 40-39-70 of the 1976 Code, as last amended by Act 491 of 1988, is further amended to read:

"Section 40-39-70. (A) Every A pawnbroker shall keep a record, at the time of any loan, containing an account and description to include the manufacturer's name and the make, model number, and serial number of the goods, articles, or things pawned, pledged, or purchased, the amount of money loaned thereon, the time of pledging them, the charges, or the rate of interest to be paid on the loan, and the name and residence of the person pawning or pledging the goods, articles, or things.

(B) A pawnbroker shall give a record of all goods, articles, or things pawned or pledged to each law enforcement agency in the county in which his business is located on a monthly basis. The manufacturer's name and the make, model number, and serial number of all goods, articles, or things pawned or pledged shall be included in this record."

SECTION 2. Section 40-39-140 of the 1976 Code, as last amended by Act 491 of 1988, is further amended to read:

"Section 40-39-140. (A) No A pawnbroker shall not accept property from a pledgor upon which there is evidence of ownership by a third party without first taking reasonable steps to ascertain its true ownership. Any such An item accepted for pawn by a pawnbroker must be returned on demand without fee to the third party owner.

(B) A pawnbroker shall not accept equipment from a pledgor when the serial number has been removed from the equipment. A pawnbroker who violates this provision, upon conviction, shall pay a fine of not less than five thousand dollars."

SECTION 3. This act takes effect upon approval by the Governor.