Pawnbrokers operating in Indianapolis must hold an Indiana Department of Financial Institutions license under IC 28-7-5 and register with the city. Maximum interest is capped statutorily and detailed pawn tickets must be filed with IMPD daily.
Indiana Code 28-7-5 governs pawnbroker licensing through the Department of Financial Institutions (DFI). Indianapolis pawnshops also fall under Revised Code Ch. 821, which adds local zoning and reporting layers. Pawn loans are capped at a finance charge of 3% per month plus storage fees. Each pawn ticket records borrower ID, item description, serial numbers, and amount loaned, then is uploaded to IMPD via LeadsOnline. The redemption period is at least 60 days. After default, the broker may sell the item but must hold it the state-required 30 days before disposition.
Operating without DFI licensure, exceeding statutory finance charges, failing to upload pawn tickets, or selling defaulted items before the holding period ends. Penalties include license revocation, restitution, and criminal charges for fencing.
See how Indianapolis's pawnbrokers rules stack up against other locations.
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