Lakewood, CO Business Licensing & Operations: Pawnbrokers (2026)

Section 5.24.020 states plainly that it is unlawful to conduct pawnbroker business in the city without first obtaining a pawnbroker's license. Applicants, partners, LLC managers, officers, directors and anyone holding 10% or more ownership must each be named, photographed and fingerprinted by the Police Department and furnish three character references from city or metro-area residents, plus proof of zoning compliance, right to possession of the premises and a financial statement (§ 5.24.030). The Police Department investigates each applicant's background and financial responsibility, and the City Manager or designee has final authority to grant or deny a license based on good moral character, financial responsibility and general fitness (§§ 5.24.050, 5.24.120).

Every licensee must post a $10,000 bond for the benefit of the public, conditioned on safekeeping and return of pledged property (§ 5.24.110), and carry insurance covering 50 percent of pledged property's value against fire, theft or casualty loss (§ 5.24.290). Licenses run one year and are nontransferable; a change in ownership, partners or officers terminates the license unless reported within 30 days (§§ 5.24.070, 5.24.090). Pawnbrokers may charge no more than one-fifth of the original purchase price per month plus the original price as interest, commission and compensation, and any excess charge voids the contract (§ 5.24.210).

Establishments may open only between 8:00 a.m. and 9:00 p.m. (§ 5.24.350), must videotape every transaction and photograph each customer, retaining footage 90 days (180 days if it shows evidence) (§ 5.24.360). Pawnbrokers may not transact with anyone under 18, anyone intoxicated, anyone with an obscured serial number on the item, or anyone the pawnbroker has cause to believe possesses stolen property (§ 5.24.270). No new pawnbroker premises may locate within one mile of another pawnbroker's premises, measured wall to wall, for licenses issued after the May 15, 2005 effective date of Ordinance O-2005-13 (§ 5.24.460).