Bill > HB389

This bill amends Mississippi Code Section 75-67-309 to remove the requirement that pawnbrokers must retain purchased goods on their premises for a specific period. Currently, pawnbrokers must keep goods purchased across the counter for 14 calendar days (if transaction records are electronically submitted to law enforcement) or 21 calendar days (if records are not electronically submitted). The bill maintains the existing requirements for record-keeping and transaction reporting to law enforcement, but provides more flexibility in where goods can be stored. Specifically, it allows the commissioner to establish a process for storing purchased goods at a secure, non-residential location off the pawnbroker's premises. The bill includes a provision that it will take effect on July 1, 2025, giving pawnbrokers and regulatory agencies time to adjust to the new storage requirements. The goal appears to be providing pawnbrokers with more operational flexibility while still maintaining important record-keeping and law enforcement reporting mechanisms that help prevent stolen goods from being resold through pawnshops.

Business and Industry

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0389.xml