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Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 325J.095. Motor vehicle title pawn transactions; special provisions

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) In addition to the other requirements of this chapter, a pawnbroker who holds a title to a motor vehicle as part of a pawn transaction shall:

(1) be licensed as a used motor vehicle dealer undersection 168.27, and post such license on the pawnshop premises;

(2) verify that there are no liens or encumbrances against the motor vehicle with the Department of Public Safety; and

(3) verify that the pledgor has automobile insurance on the motor vehicle as required by law.

(b) A pawnbroker may not sell a motor vehicle covered by a pawn transaction until 90 days after recovery of the motor vehicle.

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Cite this article: FindLaw.com - Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 325J.095. Motor vehicle title pawn transactions; special provisions - last updated January 01, 2025 | https://codes.findlaw.com/mn/trade-regulations-consumer-protection-ch-324-341/mn-st-sect-325j-095/

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