Collierville, TN Business Licensing & Operations: Pawnbrokers (2026)

Section 112.01 defines a pawnbroker as anyone in the business of lending money on the security of pledged goods, buying tangible personal property on condition that the seller can redeem it for a fixed price within a fixed period, or advancing money in exchange for possession of property that returns to the customer on repayment, while also selling new and used goods. Section 112.02 makes it unlawful to engage in that business within the Town unless the person first obtains the license required by Tenn. Code Ann. § 45-6-205.

The record rules are specific. Section 112.03 requires a separate three-inch by five-inch card for each article pledged, with the description on the front and, on the back, the pledger's handwritten name and address and right thumb print. Under § 112.04(A) the cards go to the Chief of Police every day before 12:00 noon, and § 112.05 keeps them open to inspection by the Chief or designees. Section 112.26 adds a consecutively numbered stub book, with a copy of the previous business day's entries delivered daily, except Sunday, before 10:00 a.m. Section 112.27 requires a signed memorandum to the pledger, with an estimated value, at no charge.

Holds and forfeiture follow. Section 112.28 bars selling, removing or releasing goods for 48 hours after the police copy is delivered. Section 112.29 requires keeping an unredeemed pledge for 50 days after maturity, then a mailed notice giving ten days to redeem and a published newspaper notice. Section 112.20 bars any other business in the same or an adjoining building, and § 112.22 limits the sign to the owner's name with the words Licensed Pawnbroker. Section 112.23 requires notifying a police officer before taking pledges from minors, apparently intoxicated people or known thieves, and § 112.24 bars taking gaming devices, knives with a blade over two and one-half inches, and pistols or cartridges.