Fall River, MA Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- Licensing authority
- Fall River City Council
- Interest rate cap
- 3% per month, any loan size
- Holding period
- 4 months before resale
- Firearms
- Pawning firearms prohibited
Summary
Fall River, Massachusetts requires anyone operating a pawnshop to hold a City Council license, keep a detailed transaction ledger, and follow set interest-rate caps and a four-month holding period.
No person shall carry on the business of a pawnbroker unless he is duly licensed therefor by the City Council.
Official source re-checked September 7, 2026: no newer edition of the code had been published (publisher’s edition: rev 4739915; v14 updated 2025-12-23; through 12-23-2025).
Full Breakdown
Fall River Code § 14-501 bars carrying on a pawnbroker business without a City Council license. Licensees must record every pawned item's description plus the pawner's name, age, and residence in an inspectable ledger (§ 14-502), and may not accept pledges from minors (§ 14-503). Interest is capped at 3% per month regardless of loan size, with no separate storage fees allowed (§ 14-507). Pawned goods must be held at least four months before resale, with notice mailed before any public-auction sale (§ 14-508), and pawnbrokers may never lend against firearms (§ 14-509).
Violations & Fines
Operating unlicensed, or violating the article's recordkeeping, interest-cap, or holding-period rules, falls under the City Code's general penalty: up to $300 per offense under § 1-15.
Frequently Asked Questions
Who licenses pawnshops in Fall River?
How much interest can a Fall River pawnbroker charge?
Sources & Official References
Other rules in Fall River
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Pawnbrokers in Nearby Cities
How other cities in Bristol County handle pawnbrokers.