Records

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  • (a) Every such pawnbroker shall keep a book in which, at the time of making a loan, shall be legibly written in the English language an account and description of the goods, articles or things pawned or pledged, the amount of money loaned thereon, the time of pledging them, the rate of interest to be paid on such loan and the name and residence of the pledgor.

  • (b) In addition to the requirements contained in subsection (a) the transaction must be recorded on forms obtainable from the Virgin Islands Police Department which must include:

    • (1) The date and time of the transaction;

    • (2) A comprehensive description of the item transacted, including any visible identification marks, such as initials, name of manufacturer, model and serial numbers and owner-applied identification numbers or marks;

    • (3) The estimated fair market value of the item transacted; and

    • (4) The name, address, and date of birth of the person from whom the item is received, including proof of identification of the person by a driver's license, passport, resident alien identification or similar credentials.

  • (c) The requirements imposed on a pawnbroker by this section are also binding upon any employee of the pawnbroker or any person acting on the pawnbroker's behalf.

  • (d) The completed form must be transmitted by the pawnbroker to the Virgin Islands Police Department no later than 5 days after the date of the transaction listed on the form.


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