LRC Seal



WWW Version

The hyperlink to a bill draft that precedes a summary contains the most recent version (Introduced/GA/Enacted) of the bill. If the session has ended, the hyperlink contains the latest version of the bill at the time of sine die adjournment. Note that the summary pertains to the bill as introduced, which is often different from the most recent version.

HB 159/LM (BR 862) - K. Hall, L. Clark, S. Santoro

     AN ACT relating to pawnbrokers.
     Create new sections of KRS Chapter 226 to require pawnbrokers to create and maintain a register when acquiring precious metals or gemstones; to establish timeframes for holding precious metals and gemstones before such item may be sold, altered, or otherwise disposed of; require criminal background check of persons selling or pawning precious metals or gemstones; and require pawnbrokers to establish a publicly accessible website and post pictures of precious metal or gemstones acquired; amend KRS 226.030 to prohibit a pawnbroker from acquiring precious metals or gemstones from convicted felons; amend KRS 226.990 to provide that, in addition to other penalties, a pawnbroker who acquires or disposes of precious metals or gemstones in violation of KRS Chapter 226 shall be liable to the rightful owner of precious metals or gemstones that have been timely reported as being stolen.


     HCS - Delete original provisions; amend KRS 226.010 to define “permitted user” and “pledgor”; amend KRS 226.040 to require the register of loans and purchases maintained by a pawnbroker contain an identification number from a valid driver’s license or other government-issued identification card containing the name, photograph and signature of the pledgor and the time and date of the transaction; delete the requirement that the register be open to inspection at all times and substitute during normal business hours in lieu thereof; prohibit a pawnbroker from doing business with a pledgor who does not provide the required identification; require pawnbrokers to make a record at the end of each business day of the information contained in the register for transmission to the state police; authorize transmission of records in digital or electronic format in addition to paper format; prohibit assessment of a fee against a pawnbroker for delivery of the required daily record to the state police; establish confidentiality of all information provided electronically or in paper format to law enforcement by a pawnbroker as required by this act and exempt from the open record statutes; amend KRS 226.050 to authorize a pawnbroker to electronically notify a pledgor, if electronic communication is agreed to by the pledgor, that the loan period has expired and the pledgor has ten days to redeem the article and authorize a pawnbroker to sell any precious metal or gemstone sold to the pawnbroker 30 days from the date of the purchase receipt; amend KRS 226.070 to add urban county governments and consolidated local governments to the list of local government units whose chief law enforcement officer receive a copy of a pawnbrokers report, make technical and conforming amendments and specify that no fee shall be assess against a pawnbroker for submission of documentation to the state police; create a new section of KRS Chapter 17 to require the Department of Kentucky State Polish to establish or contract for a pawnbroker transaction database to maintain all information related to pawnbroker transactions in the Commonwealth; establish basic design requirements for the database; authorize the department to enter into contracts with vendors to establish and maintain the database, subject to KRS Chapter 45A; require that the database and information in the database be accessible only to permitted users; and require the department to promulgate administrative regulations to implement this section and to provide for orderly receipt of pawnbroker records required by this Act.
     HFA (1, B. Montell) - Retain original provisions, except amend KRS 433.890 to provide that any person, except retailers and dealers in junk, that advertises for the purchase of precious metals or gemstones shall be required to maintain a register of each transaction, permit law enforcement officers to examine the register, and, upon request of the head of the local law enforcement agency, provide a report of transactions using a form to be downloaded from the Department of Kentucky State Police Web site; amend KRS 433.892, 433.894, and 433.896 to conform.
     HFA (2/Title, B. Montell) - Make title amendment.
     HFA (3, S. Riggs) - Reduce the required number of days from 30 to 15 from the date of the purchase receipt before a pawnbroker may sell any precious metal or gemstone.
     HFA (4, K. Hall) - Retain original provisions, except reduce from thirty (30) days to fifteen (15) days the period of time that a pawnbroker must hold purchased precious metals or gemstones prior to resale.

     (Prefiled by the sponsor(s).)

     Jan 3-introduced in House; to Banking & Insurance (H)
     Jan 20-posted in committee
     Feb 15-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 16-2nd reading, to Rules
     Feb 21-floor amendment (1) filed to Committee Substitute, floor amendment (2-title) filed
     Feb 24-taken from Rules; placed in the Orders of the Day
     Feb 28-floor amendment (3) filed to Committee Substitute
     Mar 1-floor amendment (4) filed to Committee Substitute
     Mar 23-taken from the Regular Orders of the Day; recommitted to Appropriations & Revenue (H)

Legislature Home Page | Record Front Page