Lawrence, MA Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- License term
- 3 years, issued each April
- License fee
- $300 per 3-year period
- Bond required
- $300 (MGL c.140 §77)
- Interest cap
- 5%/mo (≤$25), 3%/mo (>$25)
- Shop hours
- 7am-9pm, closed Sun/holidays
- Record retention
- Photo/ID kept 10 years per deal
- Enforcement
- Lawrence PD; city council revokes
Summary
Lawrence pawnbrokers need a city council license issued every three years for $300.00, plus a $300.00 bond under state law. Rule-based recordkeeping in Chapter 5.72 requires photographing every customer, checking ID and reporting suspected stolen goods to the police department.
The city council may license suitable persons to carry on the business of pawnbrokers in this city, pursuant to the provisions of chapter 140 of the General Laws and further pursuant to regulations promulgated pursuant to this chapter. Licenses may be issued in April to be valid for 36 months beginning the next succeeding first day of May. Such licenses shall continue in force until May first of the third year following unless sooner revoked. The fee for such license shall be $300.00 for each three-year period or portion thereof. Every person so licensed shall, at the time of receiving such license, file a bond in the sum of $300.00, as provided in MGL chapter 140, section 77.
Official source re-checked September 7, 2026: no newer edition of the code had been published (publisher’s edition: Code of Ordinances: Supplement 8).
Full Breakdown
72. 140 section 77. 050); and articles held in pawn, unless perishable, cannot be sold for at least four months, with ten days' mailed notice before any sale (Rule two). 030). The city council may suspend or revoke a license for cause, including violating any rule in the chapter (Rule twelve).
Violations & Fines
Buying or pawning goods with removed serial numbers, taking in firearms or automobile parts, or lending to a known minor violates 5.72.050 and 5.72.060 and is grounds for license revocation. Complaints against a licensed pawnbroker are investigated by the police department, which forwards findings and a recommendation; the city council can then suspend or revoke the license for cause after notice of the charges and a hearing (Rule eleven, Rule twelve).
Frequently Asked Questions
How much does a pawnbroker license cost in Lawrence?
What interest can a Lawrence pawnbroker charge?
Can a pawnshop in Lawrence buy a firearm?
What hours can a Lawrence pawnshop be open?
Sources & Official References
Other rules in Lawrence
Compare Lawrence to another location·View the Massachusetts business licensing & operations overview
See something wrong?
Help us keep this page accurate. If you notice an error or outdated information, let us know.