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What is NYC AC § 20-277.1?

Quick Answer

This section outlines requirements for pawnbrokers regarding pawn tickets, including necessary notations about loss protection and the prominence of signage. It mandates that pawnbrokers inform pledgors of any additional charges and display enlarged reproductions of the pawn ticket prominently. Applies to pawnbrokers operating in New York City.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 20-277.1 Tickets.

AC § 20-277.1

a. Every pawn ticket issued by a pawnbroker shall include a notation in either of the following forms: "not accountable for loss of goods by fire or theft" or "protected against loss by fire or theft." The commissioner may adopt such rules and regulations to permit words having practically the same meaning as the foregoing. b. Every pawnbroker shall, in every possible way, call attention to the contents of the pawn ticket, including the placing in a prominent position in such pawnbroker's place of business of a sign reading: "Read your ticket." c. In every case where a charge is made or a fee exacted for extra care, the pawnbroker shall specifically call the pledgor's attention to the said charge at the time the loan is made, and no such charge or fee shall be allowed unless such pledgor shall sign an agreement to pay such extra charge and the fee for such extra charge, as agreed upon, shall be plainly written on the face of the pawn ticket. d. Every pawnbroker shall place in a prominent position in such pawnbroker's place of business a reproduction of the application for the pawn ticket and the front of the pawn ticket which have been enlarged to twice their normal size, and a reproduction of the back of the pawn ticket which has been enlarged to three times its normal size. (L.L. 2021/080, 7/18/2021, eff. 11/15/2021) Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2021/080.

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