RÉSUMÉ DIGEST
ACT 208 (HB 318) 2015 Regular Session Ponti
Prior law required a pawnbroker who did not possess a pawnshop license to pay a fee totaling
$1,000, that included $700 to be classified as a licensing fee and $300 to be classified as an
application fee. New law requires a pawnbroker who does not possess a pawnshop license
to pay a fee totaling $750, that is classified only as a licensing fee to be included with the
submitted application.
Prior law required a pawnbroker who possessed at least one valid unsuspended pawnshop
license and who applied for an additional license to operate another location to pay a fee of
$500, $400 of which was classified as a licensing fee and $100 of which was classified as
an application fee. New law requires a pawnbroker who possesses at least one valid
unsuspended pawnshop license and is applying for an additional license to operate another
location to pay a fee of $500 to be included with the submitted application.
Prior law required the commissioner of the Office of Financial Institutions to immediately
return licensing fees to the applicant upon the denial of any application. New law causes the
fees imposed by new law to be nonrefundable by removing the requirement that the
commissioner return to the applicant all licensing fees upon denial.
Prior law required licensed pawnbrokers to pay an annual renewal fee of $300 for each
license possessed. New law increases the annual renewal fee for each pawnshop license
possessed to $450.
Prior law required that the annual license fee and any applicable late payment penalties be
received by the commissioner before March 1
st
of each year or the license expires. New law
requires that any annual fees and late payment penalties be received by the commissioner
before March 1
st
of each year or the license expires. Strikes the classification of the fees as
"license" fees.
Effective August 1, 2015.
(Amends R.S. 37:1786(B) and (C))