Ohio Revised Code Chapter 4727 (the Pawnbrokers Act) licenses pawnbrokers through the Ohio Department of Commerce Division of Financial Institutions. Columbus pawnshops must hold the state license, follow APR caps, report transactions to CPD, and observe pledged-item holding periods.
ORC 4727.02 requires every pawnbroker to obtain a license from the Ohio Department of Commerce, with surety bonds, financial-statement filings, and background checks for principals. ORC 4727.06 sets allowable interest, storage, and processing charges; combined effective APR is well-defined and regulated. ORC 4727.09 mandates daily transaction reporting, retention of pledged property for a state-set holding period, and identity verification of pledgers. Columbus shops typically report through LeadsOnline or RAPID and accommodate CPD detective inquiries. Title 33 zoning and Columbus business-tax registration also apply at the local level. Stolen property recovered through the system is returned to victims under judicial process.
Operating without an Ohio pawnbroker license is a felony under ORC 4727.99, with substantial fines and license forfeiture. Failure to report transactions, exceed allowed charges, or honor holding periods triggers Department of Commerce administrative actions and CPD investigations.
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