Current through Register Vol. 63, No. 9, September 1, 2024
(1) The following requirements apply to the
use off-site storage for large items:
(a)
Reasonable care must be exercised to protect pledged items when transporting or
storing a pledged item;
(b) A
pawnbroker must notify the department, in a form approved by the department, at
least 30 days before using an off-site storage location to store large pledges
and within 30 days after the pawnbroker stops using the location to store any
large items;
(c) The off-site
storage location must be in Oregon;
(d) The pawn ticket must include a place
where the pledgor can, in writing, agree to off-site storage of the pledged
item. Signing the pawn ticket alone does not constitute agreement unless the
pawn ticket is specific for off-site storage;
(e) The pawn ticket must include a notice in
legible writing, with the pledgor's acknowledgement, that either, the
pawnbroker may take up to two days to return the item once it is redeemed, or
the pawnbroker may require the pledgor to notify the pawnbroker two days before
redemption. If a pledgor gives two days notice and redeems the pledge loan at a
scheduled appointment, the pawnbroker will return the large item when the
pledge loan is redeemed;
(f) Large
items must be transported to the off-site storage as soon as reasonably
possible;
(g) A pawnbroker must
provide the address of the off-site location to department staff or law
enforcement when requested;
(h)
Large pledge items stored at an off-site location alongside non-pledged items
must be clearly marked as pledged items. If multiple licensees are storing
pledged items in the same off-site storage, the licensee for each pledged item
must be easily identifiable;
(i)
Customers are not permitted access to an off-site storage location;
and
(j) Pawnbrokers may not store
more than 10 percent of the number of pledged items at the off-site storage
location. The 10 percent is calculated at the time the pledge loan is made. If
the number of pledged items off-site exceeds 10 percent, no additional pledged
items can be stored off-site until the percentage is 10 percent or
less.
(2) By order, the
director may prohibit a licensee from use of the off-site storage location if
the director has determined that the licensee is not using the off-site storage
in accordance with the purpose of ORS chapter 726 and related administrative
rules. The director may prohibit future pledged items from being stored
off-site and may require that pledged items currently stored off-site are
transported back to the place of business. If the licensee is allowed to
continue to keep some pledged items at the off-site storage location, the
licensee must store the items using reasonable care.
