McCracken County, KY Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- Bond
- $1,000 surety, County Judge Executive approval
- Interest cap
- 2% per month on unpaid balance
- Service fee cap
- 1/5 of loan value per month
- Sale of pledge
- After 90 days, 10-day mailed notice
- Age/hours limit
- No pledges from minors or 8pm-7am
- Max penalty
- $500 fine, 30 days jail, license forfeiture
Summary
Every pawnbroker operating in unincorporated McCracken County, Kentucky must hold a county license, post a $1,000 surety bond approved by the County Judge Executive, and log each loan in a Sheriff-directed database. McCracken County Code § 98.03 caps interest at 2% monthly, and violations can cost a pawnbroker the license itself.
Every person to whom a county license is granted to carry on the business of a pawnbroker shall annually enter into bond to the county, with good and sufficient surety, to be approved by the County Judge Executive, in the penal sum of $1,000. The bond shall be conditioned that he or she will observe the provisions of KRS 226.030 to 226.050, and this chapter. ... Any pawnbroker may, in loaning money on deposit of personal property, charge, contract for or receive interest at a rate not exceeding 2% per month on the unpaid principal balance of the loan, and may charge, contract for and receive a reasonable fee, not to exceed one-fifth of the value of the loan per month, for investigating the title, storing and insuring the property, closing the loan, making daily reports to local law enforcement officers and for other expenses, losses, and incidental costs associated with serving such loans.
Full Breakdown
Under McCracken County Code § 98.02, a PAWNBROKER is any person who loans money on deposit of personal property, buys personal property with a right to resell it back at a stipulated price, or publicly advertises money to loan against personal property. Section 98.03 requires an annual $1,000 bond, approved by the County Judge Executive, conditioned on compliance with KRS 226.030 to 226.050 and the county's own pawnbroker chapter. Section 98.04 requires every pawnbroker to maintain a Leads Online or similar database directed by the County Sheriff, entering the borrower's name, address, date of birth, race, sex, driver's license or state ID number, and a detailed description of the pawned item for every loan, matched to a photo ID.
Section 98.05 requires daily database entries, including photographs of sellers and unserialized items, by the end of each business day. A pawnbroker must give a written ticket or receipt free of charge under § 98.06, and under § 98.07 can sell an unredeemed pledge only after 90 days from maturity and only after mailing the pledgor ten days' written notice. Section 98.08 caps loan interest at 2% per month on the unpaid balance and caps the separate service fee at one-fifth of the loan value per month. Section 98.10 bars a pawnbroker from taking any pledge from a minor at any time or from anyone between 8:00 p.m. and 7:00 a.m.
Violations & Fines
McCracken County Code § 98.99(A) fines a pawnbroker $50 to $500 for violating §§ 98.04 or 98.06 through 98.10 and puts the county license up for forfeiture. Section 98.99(B) makes any other violation of §§ 98.01 through 98.10 a misdemeanor punishable by up to $500 and 30 days in jail. The County Sheriff's Office monitors the Leads Online database for suspected stolen property.
Frequently Asked Questions
How much bond must a McCracken County pawnbroker post?
What interest rate can a McCracken County pawnbroker charge?
When can a McCracken County pawnbroker sell an unredeemed item?
What database must McCracken County pawnbrokers use?
Sources & Official References
Other rules in McCracken County
Compare McCracken County to another location·View the Kentucky business licensing & operations overview
See something wrong?
Help us keep this page accurate. If you notice an error or outdated information, let us know.