Pawnbrokers

C.R.S. tit. 29, art. 11.9
in effect

C.R.S. § 29-11.9-101 Definitions

29-11.9-101. Definitions. As used in this article 11.9, unless the context otherwise requires: (1) "Contract for purchase" means a contract entered into between a pawnbroker and a customer pursuant to which money is advanced to the customer by the pawnbroker on the delivery of tangible personal property by the customer on the condition that the customer, for a fixed price and within a fixed period of time, to be no less than thirty days, has the option to cancel said contract. (2) "Fixed price" means the amount agreed upon to cancel a contract for purchase during the option period. Said fixed price shall not exceed one-fifth of the original purchase price for each month, plus the original purchase price. (3) "Fixed time" means that period of time, to be no less than thirty days, as set forth in a contract for purchase, for an option to cancel said contract. (4) "Local law enforcement agency" means any marshal's office, police department, or sheriff's office with jurisdiction in the locality in which the customer enters into a contract for purchase or a purchase transaction. (5) "Local licensing authority" means the governing body of a municipality or city and county in any incorporated area of the state and the board of county commissioners of a county in any unincorporated area of the state. (6) "Option" means the fixed time and the fixed price agreed upon by the customer and the pawnbroker in which a contract for purchase may be but does not have to be rescinded by the customer. (7) "Pawnbroker" means a person who, in the course of his or her business, is regularly engaged in the business of making contracts for purchase or a person who, in the course of his or her business, is both regularly engaged in the business of making purchase transactions and also regularly or occasionally makes contracts for purchase. (8) "Purchase transaction" means the purchase by a pawnbroker in the course of his or her business of tangible personal property for resale, other than newly manufactured tangible personal property that has not previously been sold at retail, when the purchase does not constitute a contract for purchase. (9) "Tangible personal property" means all personal property other than choses in action, securities, or printed evidences of indebtedness, which property is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of his or her business in connection with a contract for purchase or purchase transaction.

C.R.S. § 29-11.9-102 Local authority to license and regulate

29-11.9-102. Local authority to license and regulate. Local licensing authorities may license pawnbrokers and require that pawnbrokers be bonded and insured and may enact regulations governing pawnbrokers, which regulations shall be at least as restrictive as the provisions of this article 11.9; except that the regulations shall be no more restrictive than this article 11.9 with respect to fixed time and fixed price.

C.R.S. § 29-11.9-103 Required acts of pawnbrokers

29-11.9-103. Required acts of pawnbrokers. (1) A pawnbroker shall record the following information in a register, as described in section 18-16-105: The name, address, and date of birth of the customer and the driver's license number or other identification number from any other form of identification that is allowed for the sale of valuable articles pursuant to section 18-16-103 or for the sale of secondhand property pursuant to section 18-13-114; the date, time, and place of the contract for purchase or purchase transaction; an accurate and detailed account and description of each item of tangible personal property, including but not limited to any trademark, identification number, serial number, model number, brand name, or other identifying marks on such property; and, for a store credit, gift card, or merchandise card, the identification number, name of the retailer, and the value of credit or card. The pawnbroker shall also obtain a written declaration of the customer's ownership, which shall state that the tangible personal property is totally owned by the customer, or shall have attached to the declaration a power of sale from the partial owner to the customer, how long the customer has owned the property, whether the customer or someone else found the property, and, if the property was found, the details of the finding. (2) The customer shall sign the electronic record and the declaration of ownership and shall receive a copy of the contract for purchase or a receipt of the purchase transaction. (3) The electronic record, as well as a copy of the contract for purchase or a receipt of the purchase transaction, shall be made accessible to any local law enforcement agency for inspection at any reasonable time. (4) The pawnbroker shall keep each electronic record for at least three years after the date of the last transaction entered in the register. (5) A pawnbroker shall hold all contracted goods within his or her jurisdiction for a period of ten days following the maturity date of the contract for purchase, during which time the goods shall be held separate and apart from any other tangible personal property and shall not be changed in form or altered in any way. (6) A pawnbroker shall hold all property purchased by him or her through a purchase transaction for thirty days following the date of purchase, during which time such property shall be held separate and apart from any other tangible personal property and shall not be changed in form or altered in any way. (7) (a) Every pawnbroker shall provide the local law enforcement agency, on a weekly basis, with two records, on a form to be provided or approved by the local law enforcement agency, of all tangible personal property accepted during the preceding week and one copy of the customer's declaration of ownership. The form shall contain the same information required to be recorded in the pawnbroker's register or other tangible or electronic record pursuant to subsection (1) of this section. The local law enforcement agency shall designate the day of the week on which the records and declarations shall be submitted. (b) A local law enforcement agency is not required to use the information submitted pursuant to subsection (7)(a) of this section to provide a benefit to the general public. The state and local governments may enact no further fees, charges, or taxes related to the use of the information provided to local law enforcement.

C.R.S. § 29-11.9-104 Prohibited acts - penalties

29-11.9-104. Prohibited acts - penalties. (1) No pawnbroker shall enter into a contract for purchase or purchase transaction with any individual under the age of eighteen years. (2) With respect to a contract for purchase, no pawnbroker may permit any customer to become obligated on the same day in any way under more than one contract for purchase agreement with the pawnbroker that would result in the pawnbroker obtaining a greater amount of money than would be permitted if the pawnbroker and customer had entered into only one contract for purchase covering the same tangible personal property. (3) (a) No pawnbroker shall violate the terms of the contract for purchase. (b) A pawnbroker who violates the terms of a contract for purchase involving a fixed price as set forth in section 29-11.9-101 (2) commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. (4) Except as otherwise provided in this section, any pawnbroker who violates any of the provisions of this article 11.9 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. (5) Any customer who knowingly gives false information with respect to the information required by section 29-11.9-103 (1) commits: (a) A petty offense if the fair market value of the item or items is less than three hundred dollars; (b) A class 2 misdemeanor if the fair market value of the item or items is three hundred dollars or more but less than one thousand dollars; (c) A class 1 misdemeanor if the fair market value of the item or items is one thousand dollars or more but less than two thousand dollars; (d) A class 6 felony if the fair market value of the item or items is more than two thousand dollars but less than five thousand dollars; (e) A class 5 felony if the fair market value of the item or items is five thousand dollars or more but less than twenty thousand dollars; (f) A class 4 felony if the fair market value of the item or items is twenty thousand dollars or more but less than one hundred thousand dollars; (g) A class 3 felony if the fair market value of the item or items is one hundred thousand dollars or more but less than one million dollars; and (h) A class 2 felony if the fair market value of the item or items is one million dollars or more. (6) When a customer violates subsection (5) of this section twice or more within the statute of limitations of the earliest offense, two or more of the violations may be aggregated and charged in a single count, in which event the violations aggregated and charged constitute a single offense, the penalty for which is based on the aggregate value of the item or items involved, pursuant to subsection (5) of this section.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-29.docxFetched: 10/6/2026

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