Kokomo, IN Business Licensing & Operations: Pawnbrokers (2026)

Kokomo Code of Ordinances § 115.06 bars anyone from engaging in business as a pawnbroker, secondhand dealer, precious metals and stones dealer, or valuable metals dealer without first obtaining a city license under § 115.07. That section sets the annual license fee at $50, due each year on the anniversary of first issuance and payable to the Kokomo Police Department; a business with more than one location must license each location separately, and licenses cannot be transferred between owners. Section 115.03 requires dealers to record each transaction, including a description of items, a photograph capturing serial numbers and other identifying marks, and the seller's government-issued identification, with that data preserved electronically for at least two years.

Section 115.04 requires dealers to submit the prior day's transaction data to the Police Department every business day in electronic format. Section 115.05 gives the Chief of Police standing authority to inspect that computerized data at any time during business hours and to remove electronic media for investigation. Section 115.08 exempts transactions with registered nonprofit organizations from the sales, recordkeeping and reporting rules in §§ 115.02 through 115.04. Any stolen article traced to a dealer's place of business is subject to confiscation by law enforcement, which must issue a written receipt. Section 115.09 sets the penalty for any violation of the chapter at up to $2,500.