Lakeville, MN Business Licensing & Operations: Pawnbrokers (2026)

Lakeville City Code chapter 3-15 defines a pawnbroker as anyone who loans money on deposit or pledge of personal property, buys property on condition of selling it back at a set price, or loans money secured by a chattel mortgage while holding the collateral (Sec. 3-15-2). No one may exercise the trade of pawnbroker in the city without a license (Sec. 3-15-3); applicants must disclose five years of addresses and employment, any felony or ordinance convictions, tax returns for the prior two years, and post a $10,000 surety bond conditioned on complying with all city ordinances and accounting for pledged property (Sec.

3-15-10). Licenses run one year from city council approval and require an investigation fee plus an annual fee, both set by council resolution, along with a monthly billable-transaction fee (Sec. 3-15-9). Every transaction must be logged with the seller's identification, description of the item and a color photograph, reported daily to the police department through the automated pawn system, and held a minimum of 60 days before an item can be forfeited and sold (Sec. 3-15-12). Pawnbrokers specifically may not lend at an interest rate above what state law allows, knowingly possess stolen goods, sell pledged goods before the redemption period expires, or refuse to disclose to the city the purchaser and price of sold pledged goods (Sec.

3-15-13). The business may not open before 7:00 A.M. or after 10:00 P.M., or at all on Sundays (Sec. 3-15-13). The city council may deny, suspend or revoke a license for zoning noncompliance, fraud, or a theft-related conviction within five years, following written notice and a hearing (Sec. 3-15-16). Violating any provision of chapter 3-15 is a misdemeanor (Sec. 3-15-17).