Stratford, CT Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- License issuer
- The Mayor, revocable for cause
- License fee
- $50 initial, $25 per year renewal
- Bond
- $2,000 penal sum with competent surety
- Interest caps
- 5%, 3% or 2% per month by loan amount
- Holding period
- Pledges kept six months before sale
- Weekly report
- Sworn statement to Town Clerk, Mondays by 12:00 noon
- Third offense
- Up to $500 or six months, or both
Summary
In the Town of Stratford, Connecticut, no one can lend money on pledged personal property without a pawnbroker license from the Mayor. The license costs $50, renews at $25 per year, requires a $2,000 bond, and runs for one year. Chapter 153 also fixes monthly interest caps, record keeping and weekly reporting duties, with fines up to $500 and jail for a third offense.
B. No person, corporation or partnership shall engage in or carry on the business of loaning money upon deposits or pledges of wearing apparel, jewelry, ornaments, household goods or other personal property, or of purchasing such property on condition of selling the same back again at a stipulated price, unless such person, corporation or partnership is licensed as a pawnbroker. ... The Mayor may grant licenses to suitable persons to be pawnbrokers ... and may revoke such licenses for cause. The person so licensed shall pay a license fee of $50, and $25 per year thereafter for renewal of such license, and shall, at the time of receiving such license, file a bond with competent surety in the penal sum of $2,000 ... Any person, corporation or partnership which engages in the business of a pawnbroker, unless licensed according to law, ... shall be fined not more than $50 for the first offense and not more than $100 for the second offense and, for the third offense, shall be fined not more than $500 or imprisoned not more than six months, or both
Full Breakdown
Chapter 153 of the Stratford Code, adopted by the Town Council on 7-13-1992, regulates pawnbrokers. Section 153-1 says no person, corporation or partnership shall engage in the business of loaning money upon deposits or pledges of wearing apparel, jewelry, ornaments, household goods or other personal property, or of purchasing such property on condition of selling it back at a stipulated price, unless licensed as a pawnbroker. Loans on intangible property are excepted.
Under § 153-2, as amended 3-12-2007 by Ordinance No. 07-03, the Mayor grants licenses to suitable persons and can revoke them for cause. The licensee pays a license fee of $50 and $25 per year thereafter for renewal, and at the time of receiving the license files a bond with competent surety in the penal sum of $2,000, conditioned on faithful performance of the duties of the business. Each license designates the place where the business is carried on and continues one year unless sooner revoked.
Section 153-3 sets operating rules. The license stays on public display at all times. All employees must be at least 18 years of age and must not have been convicted of any criminal offense, and a current employee list with full name, address, date of birth, social security number and telephone number goes to the Chief of Police at least annually or on reasonable demand. Each pawnbroker keeps a book furnished by the Chief of Police, written in English, recording a description of every article, the pledgor's name, residence and description, and the day and hour received; any police officer can examine the book, the premises and the articles at all times. The pledgor receives a memorandum of the entry at no charge. A sworn weekly statement of transactions goes to the Town Clerk each Monday no later than 12:00 noon.
Interest is capped at 5% per month on $15 or less, 3% per month above $15 up to $50, and 2% per month above $50, posted publicly. Pledges are held six months before sale, and sales follow a newspaper advertisement at least once two days before the sale, copied to the Chief of Police. A notice must state that no one under 18 shall pawn or sell items, and sellers need identification with a full face photograph.
Violations & Fines
Section 153-4 fines unlicensed operation, operating after revocation, any chapter violation, failing to keep the English-language book, refusing inspection, or taking a pledge from a known minor at not more than $50 for a first offense and not more than $100 for a second. A third offense is fined not more than $500 or jail of not more than six months, or both, plus forfeiture of treble the amount loaned to an injured person who sues. Willful failure to file the weekly report is a $100 fine under § 153-3(D).
Frequently Asked Questions
Who issues a pawnbroker license in Stratford?
What interest can a Stratford pawnbroker charge?
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Sources & Official References
Other rules in Stratford
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