Suffolk County, NY Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- Licensing agency
- Office of Consumer Affairs
- Required bond
- $5,000, § 563-40
- Holding period
- 21 days before resale
- Records retained
- 7 years, § 563-41C
- Annual license fee
- $200 ($400 biennial renewal)
Summary
Suffolk County licenses pawnbrokers under its Precious Metal and Gem Exchange law: anyone doing business as a collateral loan broker under NY General Business Law Article 5 must get an Office of Consumer Affairs license before opening, and post a $5,000 bond.
It is unlawful for any person to engage in any business as a precious metal and gem exchange establishment without first obtaining a license therefor from the office in accordance with and subject to the provisions of this article and Article I. [Amended 6-21-1994 by L.L. No. 13-1994; 6-10-2003 by L.L. No. 21-2003; 5-12-2009 by L.L. No. 18-2009]
B. Every licensee shall maintain an establishment within the County of Suffolk. [Amended 7-30-2013 by L.L. No. 34-2013]
C. A licensee shall display the license obtained pursuant to this article in the establishment. If a licensee shall maintain more than one establishment within the County of Suffolk, he shall obtain duplicate licenses. The fees for duplicate licenses are set forth in § 563-38B.
D. A precious metal and gem exchange establishment may either utilize scales for the purposes of buying precious metals and/or gems or may operate without a scale. Whichever method of operation is utilized must comply with the provisions of § 563-39 herein. In addition, every licensee shall comply with the bonding provisions of § 563-40 and the record and reporting requirements of § 563-41. [Amended 5-12-2009 by L.L. No. 18-2009]
E.
Full Breakdown
Suffolk County Code Chapter 563, Article IV defines a "precious metal and gem exchange" to include any collateral loan broker under NY General Business Law Article 5: the state's legal term for a pawnbroker. Operating without an Office of Consumer Affairs license is unlawful under § 563-37A. Licensees must maintain an in-county establishment, post a $5,000 bond (§ 563-40), keep detailed transaction records with photo ID and digital photos of pledged items (§ 563-41), and hold purchased or pledged goods 21 days before resale or disposal (§ 563-47).
Violations & Fines
Operating unlicensed is a violation subject to fines, license suspension, or revocation under § 563-9; selling, disposing of, or altering pledged or purchased goods before the 21-day hold expires is separately punishable under § 563-47A.
Frequently Asked Questions
Does Suffolk County license pawnbrokers directly?
How long must a pawnbroker hold an item before reselling it?
What happens if a pawnbroker operates without a license?
Sources & Official References
Other rules in Suffolk County
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