reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-325 - Suspension or revocation of license; conditional license; surrender of license; reinstatement of license; enforcement by Commissioner of Banking

(1)
The commissioner may, after notice and hearing, suspend or revoke any license if it finds that:
(a)
The licensee, either knowingly, or without the exercise of due care to prevent the same, has violated any provision of this article;
(b)
Any fact or condition exists which, if it had existed or had been known to exist at the time of the original application for such license, clearly would have justified the commissioner in refusing such license;
(c)
The licensee has aided, abetted or conspired with an individual or person to circumvent or violate the requirement of this article;
(d)
The licensee, or a legal or beneficial owner of the license, has been convicted of a crime that the commissioner finds directly relates to the duties and responsibilities of the occupation of pawnbroker.
(2)
The commissioner may conditionally license or place on probation a person whose license has been suspended or may reprimand a licensee for a violation of this article.
(3)
The manner of giving notice and conducting a hearing as required by subsection (1) of this section shall be performed in accordance with Mississippi Administrative Procedures Law, Section
25-43-1
et seq., Mississippi Code of 1972.
(4)
Any licensee may surrender any license by delivering it to the commissioner with written notice of its surrender, but such surrender shall not affect the licensee's civil or criminal liability for acts committed prior thereto.
(5)
No revocation, suspension or surrender of any license shall impair or affect the obligation of any pre-existing lawful contract between the licensee and any pledgor. Any pawn transaction made without benefit of license is void.
(6)
The commissioner may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked if no fact or condition then exists which clearly would have justified the commissioner in refusing originally to issue a license under this article.
(7)
The appropriate local law enforcement agency shall be notified of any licensee who has his license suspended or revoked as provided by this article.
(8)
The Commissioner of Banking shall enforce the provisions of this section.
Laws, 1993, ch. 598, § 13, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-327 - Application for new pawnshop license, transfer of existing license or approval for change in ownership

(1)
An application for a new pawnshop license, the transfer of an existing pawnshop license or the approval of a change in the ownership of a licensed pawnshop shall be under oath and shall state the full name and place of residence of the applicant, the place where the business is to be conducted and other relevant information required by the commissioner. If the applicant is a partnership, the application shall state the full name of each partner. If the applicant is a corporation, the application shall state the full name and address of each officer, shareholder and director.
(2)
Notwithstanding the provision of this article, the application need not state the full name and address of each shareholder, if the applicant is owned directly or beneficially by a person which as an issuer has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 or is an issuer of securities which is required to file reports with the Securities and Exchange Commission pursuant to Section 15(d) of the Securities Exchange Act, provided that such person files with the commissioner such information, documents and reports as are required by the provision of the Securities Exchange Act to be filed by such issuer with the Securities and Exchange Commission.
Laws, 1993, ch. 598, § 14, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-329 - Confiscation of pledged or purchased goods

(1)
No pledged or purchased goods can be confiscated without specifically accomplishing the following actions:
(a)
A police report being made in a timely manner;
(b)
A warrant sworn out for the person who pledged or sold the goods to the pawnbroker; and
(c)
A theft report, or a National Crime Information Center (NCIC) report, identifying the merchandise to be confiscated along with a request for restitution, pursuant to law.
(2)
Pledged or purchased goods can be put on a one-time seven (7) day hold by the authorized law enforcement authorities.
(3)
Confiscated merchandise shall be returned to the pawnbroker by the law enforcement authorities as soon as possible when determined that the merchandise has no rightful owner.
Laws, 1993, ch. 598, § 15, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-331 - Penalty for failure to secure a license

Any person who engages in the business of operating a pawnshop without first securing a license prescribed by this article shall be guilty of a misdemeanor and upon conviction thereof, shall be punishable by a fine not in excess of One Thousand Dollars ($1,000.00) or by confinement in the county jail for not more than one (1) year, or both.
Laws, 1993, ch. 598, § 16, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-334 - Authority of commissioner to examine persons suspected of violating licensure requirements

The commissioner, or his duly authorized representative, for the purpose of discovering violations of this article and for the purpose of determining whether persons are subject to the provisions of this article, may examine persons licensed under this article and persons reasonably suspected by the commissioner of conducting business that requires a license under this article, including all relevant books, records and papers employed by those persons in the transaction of their business, and may summon witnesses and examine them under oath concerning matters relating to the business of those persons, or such other matters as may be relevant to the discovery of violations of this article, including without limitation the conduct of business without a license as required under this article.
Laws, 2001, ch. 503, § 6, eff. 3/24/2001.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-335 - Liability of rightful owner to pawnbroker where pledged goods are found to be stolen; restitution awarded upon successful prosecution

If any pledged goods from a pawn transaction are found to be stolen goods and are returned to the rightful owner by law enforcement authorities and if the licensee who accepted such pledged goods has complied with all of the duties and responsibilities as specified in this article during such transaction, then the rightful owner of such pledged goods shall be liable to the licensee for the pledged amount if the rightful owner fails to prosecute or cooperate in the criminal prosecution related to such pawn transaction, provided that the rightful owner can prove that the stolen goods are his. It shall also be the responsibility of the licensee to assist or cooperate in the criminal prosecution related to such pawn transaction. Upon successful criminal prosecution, restitution shall be awarded to the pawnbroker and the rightful owner, if applicable, by the criminal court at the time of the defendant's sentencing. If the identity of a person who pawned stolen goods can be determined, the district attorney may prosecute such person for any applicable criminal violations.
Laws, 1993, ch. 598, § 18; Laws, 1997, ch. 610, § 1; Laws, 2001, ch. 503, § 10, eff. 3/24/2001.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-337 - Severability provision

The provisions of this article are severable. If any part of this article is declared invalid or unconstitutional, such declaration shall not affect the parts which remain.
Laws, 1993, ch. 598, § 19, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-339 - Time limit for existing pawnbrokers to apply for license and pay fee

Pawnbrokers operating pawnshop locations in business as of July 1, 1993, shall have until January 1, 1994, to apply for a license under this article and to pay the required fee, and upon such application and payment of such required fee, shall be granted a license under this article.
Laws, 1993, ch. 598, § 20, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-341 - Authority of Commissioner of Banking to develop forms; commissioner may examine records without notice

(1)
The Commissioner of Banking shall develop and provide any necessary forms to carry out the provisions of this article.
(2)
To assure compliance with the provisions of this article, the commissioner may examine the pawn books and records of any licensee without notice during normal business hours.
Any expenses incurred for such examinations are included in the licensee's application fee; however, the commissioner may charge the licensee any actual expenses incurred while examining the licensee's pawn records or books which are located outside of the State of Mississippi.
Laws, 1993, ch. 598, § 21; Laws, 2001, ch. 503, § 5, eff. 3/24/2001.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 7 - MISSISSIPPI PAWNSHOP ACT (§§ 75-67-301 — 75-67-343) › Section 75-67-343 - Authority of municipalities to enact ordinances complying with, but not more restrictive than, provision of this article

Municipalities in this state may enact ordinances which are in compliance with, but not more restrictive than, the provisions of this article. Any existing or future order, ordinance or regulation which conflicts with this provision shall be null and void.
Laws, 1993, ch. 598, § 22, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-401 - Title

This article shall be known and may be cited as the "Mississippi Title Pledge Act."
Laws, 1997, ch. 610, § 2, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-405 - Title pledge transaction form

At the time the title pledge lender enters into each title pledge agreement, the title pledge lender shall complete a consecutively numbered title pledge transaction form for such transaction, and the pledgor shall sign the completed form. The commissioner shall approve the design and format of the title pledge transaction form, which shall elicit the information required under this section. In completing the title pledge transaction form, the title pledge lender shall record the following information, which shall be typed or written indelibly and legibly in English:
(a)
The make, model and year of the titled personal property to which the pledged property relates.
(b)
The vehicle identification number, or other comparable identification number, along with the license plate number, if applicable, of the titled personal property to which the pledged property relates.
(c)
The name, address, date of birth, physical description, Social Security number of the pledgor and one (1) photo identification.
(d)
The date of the transaction.
(e)
The identification number and the type of identification (including the issuing agency) accepted from the pledgor.
(f)
The amount of money advanced, which shall be designated as the "amount financed."
(g)
The maturity date of the title pledge agreement, which shall be thirty (30) days after the date of the transaction.
(h)
The total title pledge service charge payable on the maturity date, designated as the "finance charge."
(i)
The total amount (amount financed plus finance charge) which must be paid to redeem the pledged property on the maturity date, designated as the "total of payments."
(j)
The annual percentage rate, computed in accordance with the regulations adopted by the Federal Reserve Board pursuant to the Federal Truth in Lending Act.
Laws, 1997, ch. 610, § 4, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-407 - Information to be included on title pledge transaction forms

(1)
The following information shall also be printed on all title pledge transaction forms:
(a)
The name and address of the title pledge office.
(b)
The statement that:
(i)
The pledgor is not obligated to redeem the pledged certificate of title;
(ii)
If the pledgor does not redeem the pledged certificate of title on or before the maturity date of the title pledge agreement, the title pledge lender may take possession of the titled personal property to which the certificate of title relates;
(iii)
If the pledgor does not redeem the pledged property within thirty (30) days of the maturity date by paying all outstanding principal, interest and other fees, then the pledgor forfeits all right, title and interest in and to the titled personal property and the pledged property to the title pledge lender, who shall thereby acquire an absolute right of title and ownership to the titled personal property; and
(iv)
If this title pledge transaction form is lost, destroyed or stolen, the pledgor shall immediately advise the issuing title pledge lender.
(c)
The statement that "The pledgor represents and warrants that the titled personal property to which the pledged property relates is not stolen, it has no liens or encumbrances against it, and the pledgor has the right to enter into this transaction."
(d)
Immediately above the signature of the pledgor or seller, the statement that "I, the pledgor declare under penalty of perjury that I have read the foregoing document and that, to the best of my knowledge and belief, the facts contained in it are true and correct."
(e)
A blank line for the signature of the pledgor.
(2)
At the time of the transaction, the title pledge lender shall deliver to the pledgor a copy of the completed title pledge transaction form.
Laws, 1997, ch. 610, § 5, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-409 - Verification statement; record of transactions of pledged property

(1)
The pledgor shall sign a statement verifying that the pledgor is the rightful owner of the pledged property and is entitled to pledge it. The pledgor shall receive an exact copy of the title pledge agreement which shall be signed by the title pledge lender or any employee of the title pledge lender.
(2)
The title pledge lender shall maintain a record of all transactions of pledged property on the premises for a period of two (2) years. A title pledge lender upon request shall provide to the appropriate law enforcement agency a complete record of all transactions. These records shall be a correct copy of the entries made of the title pledge transaction, except as to the amount of cash advanced for the pledged property and the monthly title pledge charge.
(3)
The title pledge lender shall maintain records that contain a complete payment history of each customer evidencing all principal payments, service charge and/or other charges. Those records also shall reflect any unpaid principal balance as well as a payoff balance that includes the accrued service charges.
Laws, 1997, ch. 610, § 6; Laws, 2000, ch. 621, § 21, eff. 5/23/2000.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-413 - Title pledge service charge; extension of title pledge transaction period; additional payments on same pledged property to be evidenced by separate title pledge agreement

(1)
A title pledge lender may contract for and receive a title pledge service charge in lieu of interest or other charges for all services, expenses, cost and losses of every nature not to exceed twenty-five percent (25%) of the principal amount, per month, advanced in the title pledge transaction.
(2)
Any interest, charge or fees contracted for or received, directly or indirectly, in excess of the amount permitted under subsection (1) of this section shall be uncollectible and the title pledge transaction shall be void. The title pledge service charge allowed under subsection (1) of this section shall be deemed earned, due and owing as of the date of the title pledge transaction and a like sum shall be deemed earned, due and owing on the thirty-first day from the date of the transaction and on every thirtieth day thereafter.
(3)
By agreement of the parties, the maturity date of the title pledge transaction may be extended or continued for thirty-day periods, provided that the service charges as specified in subsection (1) are not exceeded for any extensions. All extensions or continuations of the title pledge transaction shall be evidenced in writing. No accrued interest or service charge shall be capitalized or added to the original principal of the title pledge transaction during any extension or continuation. Beginning with the first extension or continuation and at each successive extension or continuation thereafter, the pledgor shall be required to reduce the principal amount financed by at least ten percent (10%) of the original principal amount of the title pledge transaction. Notwithstanding any provision in this article to the contrary, if the pledgor fails to pay at least ten percent (10%) of the original principal amount at any such extension or continuation, the title pledge lender may, at its option, either (a) declare the outstanding principal and any service charges to be immediately due and payable, or (b) allow the transaction to be extended or continued, provided that the title pledge lender shall reduce the principal amount of the loan by ten percent (10%) of the original principal amount solely for the purposes of calculating its service charge. This reduction in principal shall continue to be owing by the pledgor in accordance with the title pledge transaction, but that amount shall not be entitled to accrue interest or service charges thereafter.
(4)
Any additional payment of funds on the same pledged property must be evidenced by a separate title pledge agreement. A title pledge lender shall not advance funds to a pledgor to pay off an existing title pledge agreement.
Laws, 1997, ch. 610, § 8; Laws, 2000, ch. 621, § 23, eff. 5/23/2000.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-415 - Prohibited actions of title pledge lender

A title pledge lender, or any agent or employee of such title pledge lender, shall not:
(a)
Falsify or intentionally fail to make an entry of any material matter in a title pledge lender transaction form.
(b)
Refuse to allow the commissioner, the appropriate law enforcement official, state attorney, or any of their designated representatives having appropriate jurisdiction, to inspect completed title pledge transaction forms or pledged property during the ordinary hours of the title pledge lender's business or other times acceptable to both parties.
(c)
Enter into a title pledge agreement with a person under the age of eighteen (18) years.
(d)
Make any agreement requiring or allowing the personal liability of a pledgor or the waiver of any of the provisions of this article.
(e)
Knowingly enter into a title pledge agreement with any person who is under the influence of drugs or alcohol when such condition is visible or apparent, or with any person using a name other than his own name or the registered name of his business.
(f)
Enter into a title pledge agreement in which the amount of money loaned in consideration of the pledge of any single certificate of title exceeds Two Thousand Five Hundred Dollars ($2,500.00).
(g)
Fail to exercise reasonable care in the safekeeping of pledged property or of titled personal property repossessed pursuant to this article.
(h)
Fail to return pledged property or repossessed titled personal property to a pledgor, with any and all of the title pledge lender's liens on the property properly released, upon payment of the full amount due the title pledge lender, unless the property has been seized or impounded by an authorized law enforcement agency, taken into custody by a court, or otherwise disposed of by court order.
(i)
Sell or otherwise charge for insurance in connection with a title pledge agreement.
Laws, 1997, ch. 610, § 9, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-417 - Presentation of title pledge transaction form; lost, destroyed, or stolen forms

(1)
Any person presenting identification of himself and presenting the pledgor's copy of the title pledge transaction form to the title pledge lender is presumed to be entitled to redeem the pledged property described in the title pledge lender transaction form; provided, however, that if the title pledge lender determines that the person is not the original pledgor, the title pledge lender is not required to allow the redemption of the pledged property by such person. The person redeeming the pledged property must sign the pledgor's copy of the title pledge transaction form, which the title pledge lender may retain to evidence such person's receipt of the pledged property. If the person redeeming the pledged property is not the original pledgor, that person must show identification to the title pledge lender, and the title pledge lender shall record the person's name and address on the title pledge transaction form retained by the title pledge lender. The title pledge lender shall not be liable to the original pledgor for having allowed the redemption of the pledged property by another person pursuant to this subsection (1).
(2)
If the pledgor's copy of the title pledge transaction form is lost, destroyed or stolen, the pledgor must notify the title pledge lender in writing by certified or registered mail, return receipt requested, or in person evidenced by a signed receipt, and receipt of this notice shall invalidate such title pledge transaction form if the pledged property has not previously been redeemed. Before delivering the pledged property or issuing a new title pledge transaction form, the title pledge lender shall require the pledgor to make a written statement of the loss, destruction or theft of the pledgor's copy of the title pledge transaction form. The title pledge lender shall record on the written statement the type of identification and the identification number accepted from the pledgor, the date the statement is given and the number of the title pledge transaction form lost, destroyed or stolen. The statement shall be signed by the title pledge lender or the title pledge office employee who accepts the statement from the pledgor. A title pledge lender is entitled to a fee not to exceed Five Dollars ($5.00) in connection with each such lost, destroyed or stolen title pledge transaction form and the taking of a properly prepared written statement.
(3)
No sales tax shall be deemed due or collectible in connection with the redemption of pledged property under this article.
Laws, 1997, ch. 610, § 10, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-423 - Grounds for suspension of license; notice and hearing requirements

(1)
The commissioner may, after notice and hearing, suspend or revoke any license if it finds that:
(a)
The licensee, either knowingly, or without the exercise of due care to prevent the same, has violated any provision of this article;
(b)
Any fact or condition exists which, if it had existed or had been known to exist at the time of the original application for the license, clearly would have justified the commissioner in refusing the license;
(c)
The licensee has aided, abetted or conspired with an individual or person to circumvent or violate the requirements of this article;
(d)
The licensee, or a legal or beneficial owner of the license, has been convicted of a crime that the commissioner finds directly relates to the duties and responsibilities of the occupation of title pledge lender.
(2)
The commissioner may conditionally license or place on probation a person whose license has been suspended or may reprimand a licensee for a violation of this article.
(3)
The manner of giving notice and conducting a hearing as required by subsection (1) of this section shall be performed in accordance with Mississippi Administrative Procedures Law, Section
25-43-1.101
et seq., Mississippi Code of 1972.
(4)
Any licensee may surrender any license by delivering it to the commissioner with written notice of its surrender, but such surrender shall not affect the licensee's civil or criminal liability for acts committed prior thereto.
(5)
No revocation, suspension or surrender of any license shall impair or affect the obligation of any pre-existing lawful contract between the licensee and any pledgor. Any title pledge transaction made without benefit of license is void.
(6)
The commissioner may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked if no fact or condition then exists that clearly would have justified the commissioner in refusing originally to issue a license under this article.
(7)
The appropriate local law enforcement agency shall be notified of any licensee who has his license suspended or revoked as provided by this article.
(8)
The Commissioner of Banking and Consumer Finance shall enforce the provisions of this section.
Laws, 1997, ch. 610, § 13, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-425 - Oath required for new or transferred license; application; contents of application

(1)
An application for a new title pledge office license, the transfer of an existing title pledge office license or the approval of a change in the ownership of a licensed title pledge office shall be under oath and shall state the full name and place of residence of the applicant, the place where the business is to be conducted and other relevant information required by the commissioner. If the applicant is a partnership, the application shall state the full name of each partner. If the applicant is a corporation, the application shall state the full name and address of each officer, shareholder and director.
(2)
Notwithstanding the provisions of this section, the application need not state the full name and address of each shareholder, if the applicant is owned directly or beneficially by a person which as an issuer has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 or is an issuer of securities which is required to file reports with the Securities and Exchange Commission pursuant to Section 15(d) of the Securities Exchange Act, provided that such person files with the commissioner such information, documents and reports as are required by the provision of the Securities Exchange Act to be filed by such issuer with the Securities and Exchange Commission.
Laws, 1997, ch. 610, § 14, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-427 - Prerequisites to confiscating pledged property

(1)
No pledged property can be confiscated without the following actions having been accomplished:
(a)
A police report being made in a timely manner;
(b)
A warrant sworn out for the person who pledged the property to the title pledge lender; and
(c)
A theft report or a National Crime Information Center (NCIC) report identifying the pledged property to be confiscated along with a request for restitution, pursuant to law.
(2)
Pledged property can be put on a one-time seven-day hold by the authorized law enforcement authorities.
(3)
Confiscated pledged property shall be returned to the title pledge lender by the law enforcement authorities as soon as possible when determined that the pledged property has no rightful owner.
Laws, 1997, ch. 610, § 15, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-429 - Penalties for operating title pledge office without a license

Any person who engages in the business of operating a title pledge office without first securing a license prescribed by this article shall be guilty of a misdemeanor and, upon conviction thereof, shall be punishable by a fine not in excess of One Thousand Dollars ($1,000.00) or by confinement in the county jail for not more than one (1) year, or both.
Laws, 1997, ch. 610, § 16, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-433 - Stolen pledged property

If any pledged property from a title pledge transaction is found to be stolen and is returned to the rightful owner by law enforcement authorities and if the licensee who accepted such pledged property has complied with all of the duties and responsibilities as specified in this article during such transaction, then the rightful owner of such pledged property shall be liable to the licensee for the pledged amount if the rightful owner fails to prosecute or cooperate in the criminal prosecution related to such title loan transaction, provided that the rightful owner can prove that the stolen goods are his. It shall also be the responsibility of the licensee to assist or cooperate in the criminal prosecution related to such title pledge transaction. If the identity of a person who pawned stolen goods can be determined, the district attorney may prosecute such person for any applicable criminal violations.
Laws, 1997, ch. 610, § 18, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-435 - Administration of chapter; examination of books and records

(1)
The Commissioner of Banking and Consumer Finance shall develop and provide any necessary forms to carry out the provisions of this article.
(2)
The department may adopt reasonable administrative regulations, not inconsistent with law, for the enforcement of this article.
(3)
To assure compliance with the provisions of this article, the department may examine the books and records of any licensee without notice during normal business hours. The commissioner may charge the licensee an examination fee in an amount not less than Three Hundred Dollars ($300.00) nor more than Six Hundred Dollars ($600.00) for each office or location within the State of Mississippi, plus any actual expenses incurred while examining the licensee's records or books that are located outside the State of Mississippi. However, in no event shall a licensee be examined more than once in a two-year period unless for cause shown based upon consumer complaint and/or other exigent reasons as determined by the commissioner.
Laws, 1997, ch. 610, § 19; Laws, 2000, ch. 621, § 26; Laws, 2003, ch. 339, § 2; Laws, 2007, ch. 397, § 2, eff. 3/15/2007.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-437 - Time period for application for license

Title pledge lenders in operation as of April 22, 1997, shall have until July 1, 1997, to apply for a license under this article.
Laws, 1997, ch. 610, § 20, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-439 - Complying or conflicting municipal ordinance

Municipalities in this state may enact ordinances which are in compliance with, but not more restrictive than, the provisions of this article. Any existing or future order, ordinance or regulation which conflicts with this provision shall be null and void.
Laws, 1997, ch. 610, § 21, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-441 - Severability

The provisions of this article are severable. If any part of this article is declared invalid or unconstitutional, such declaration shall not affect the parts which remain.
Laws, 1997, ch. 610, § 22, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-443 - Hiring of employees

The commissioner may employ additional necessary permanent full-time employees above the number of permanent full-time employees authorized for the department for fiscal year 1997 to carry out and enforce the provisions of this article.
Laws, 1997, ch. 610, § 23, eff. 4/22/1997.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-445 - Advertising, displaying, or publishing false or misleading statements prohibited

A licensee shall not advertise, display or publish, or permit to be advertised, displayed or published, in any manner whatsoever, any statement or representation that is false, misleading or deceptive.
Laws, 2000, ch. 621, § 27, eff. 5/23/2000.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-447 - Commissioner authorized to examine persons suspected of conducting business requiring a license

The commissioner, or his duly authorized representative, for the purpose of discovering violations of this article and for the purpose of determining whether persons are subject to the provisions of this article, may examine persons licensed under this article and persons reasonably suspected by the commissioner of conducting business that requires a license under this article, including all relevant books, records and papers employed by those persons in the transaction of their business, and may summon witnesses and examine them under oath concerning matters relating to the business of those persons, or such other matters as may be relevant to the discovery of violations of this article, including without limitation the conduct of business without a license as required under this article.
Laws, 2000, ch. 621, § 28, eff. 5/23/2000.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 9 - TITLE PLEDGE ACT (§§ 75-67-401 — 75-67-449) › Section 75-67-449 - Liability of licensees

(1)
A licensee under this article shall have no liability for any act or practice done or omitted in conformity with (a) any rule or regulation of the commissioner, or (b) any rule, regulation, interpretation or approval of any other state or federal agency or any opinion of the Attorney General, notwithstanding that after such act or omission has occurred the rule, regulation, interpretation, approval or opinion is amended, rescinded, or determined by judicial or other authority to be invalid for any reason.
(2)
A licensee under this article, acting in conformity with a written interpretation or approval by an official or employee of any state or federal agency or department, shall be presumed to have acted in accordance with applicable law, notwithstanding that after such act has occurred, the interpretation or approval is amended, rescinded, or determined by judicial or other authority to be incorrect or invalid for any reason.
Laws, 2000, ch. 621, § 29, eff. 5/23/2000.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 11 - MISSISSIPPI CHECK CASHERS ACT (§§ 75-67-501 — 75-67-539) › Section 75-67-501 - Short title

This article shall be known and may be cited as the "Mississippi Check Cashers Act."
Laws, 1998, ch. 587, 1; reenacted and amended,Laws, 1999, ch. 481, 1; reenacted without change,Laws, 2003, ch. 341; reenacted without change,Laws, 2007, ch. 488, 1; reenacted without change,Laws, 2011, ch. 309, 1, eff. 2/24/2011.
Reenacted without change by Laws, 2013, ch. 408, HB 559, 1, eff. 3/20/2013.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 11 - MISSISSIPPI CHECK CASHERS ACT (§§ 75-67-501 — 75-67-539) › Section 75-67-503 - Definitions

The following words and phrases used in this article shall have the following meanings unless the context clearly indicates otherwise:
(a)
"Appropriate law enforcement agency" means the sheriff of each county in which the licensee maintains an office, or the police chief of the municipality in which the licensee maintains an office, or law enforcement officers of the Department of Public Safety.
(b)
"Attorney General" means the Attorney General of the State of Mississippi.
(c)
"Check" means any check, draft, money order, personal money order, pre-authorized customer draft, or other instrument for the transmission or payment of money as determined by the Commissioner of Banking and Consumer Finance, but shall not include travelers checks or foreign drawn payment instruments.
(d)
A "check casher" means any individual, partnership, association, joint-stock association, trust or corporation, excluding the United States government and the government of this state, who exchanges cash or other value for any check, draft, money order, personal money order, or other instrument for the transmission or payment of money, except travelers checks and foreign drawn payment instruments, and who charges a fee therefor.
(e)
"Commissioner" means the Mississippi Commissioner of Banking and Consumer Finance, or his designee, as the designated official for the purpose of enforcing this article.
(f)
"Department" means the Department of Banking and Consumer Finance.
(g)
"Licensee" means any individual, partnership, association or corporation duly licensed by the Department of Banking and Consumer Finance to engage in the business of cashing checks under this article.
(h)
"Person" means an individual, partnership, corporation, joint venture, trust, association or any legal entity however organized.
(i)
"Personal money order" means any instrument for the transmission or payment of money in relation to which the purchaser or remitter appoints or purports to appoint the seller thereof as his agent for the receipt, transmission or handling of money, whether such instrument is signed by the seller or by the purchaser or remitter or some other person.
Laws, 1998, ch. 587, § 2; reenacted and amended, Laws, 1999, ch. 481, § 2; reenacted without change, Laws, 2003, ch. 341, § 2; reenacted without change, Laws, 2007, ch. 488, § 2; reenacted without change, Laws, 2011, ch. 309, § 2, eff. 2/24/2011.
Reenacted without change by Laws, 2013, ch. 408, HB 559, 2, eff. 3/20/2013.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 11 - MISSISSIPPI CHECK CASHERS ACT (§§ 75-67-501 — 75-67-539) › Section 75-67-507 - Exemptions

The provisions of this article shall not apply to:
(a)
Any bank, trust company, savings association, savings and loan association, savings bank or credit union which is chartered under the laws of this state or under federal law and domiciled in this state.
(b)
Any person who cashes checks at their face value and does not charge the consumer a fee or otherwise receive any consideration from the consumer.
(c)
Any person principally engaged in the retail sale of goods or services who, either as an incident to or independently of a retail sale, may from time to time cash checks for a fee, not exceeding three percent (3%) of the face amount of the check or Ten Dollars ($10.00), whichever is greater. However, the fee shall be conspicuously posted for public view.
Laws, 1998, ch. 587, § 4; reenacted and amended, Laws, 1999, ch. 481, § 4; reenacted and amended, Laws, 2003, ch. 341, § 4; reenacted without change, Laws, 2007, ch. 488, § 4; reenacted without change, Laws, 2011, ch. 309, § 4, eff. 2/24/2011.
Reenacted without change by Laws, 2013, ch. 408, HB 559, 4, eff. 3/20/2013.
Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 67 - LOANS (§§ 75-67-1 — 75-67-639) › Article 11 - MISSISSIPPI CHECK CASHERS ACT (§§ 75-67-501 — 75-67-539) › Section 75-67-509 - Applicant eligibility requirements

To be eligible for a check casher license, an applicant shall:
(a)
Operate lawfully and fairly within the purposes of this article.
(b)
Not have been convicted of a felony in the last ten (10) years or be active as a beneficial owner for someone who has been convicted of a felony in the last ten (10) years.
(c)
File with the commissioner a bond with good security in the penal sum of Ten Thousand Dollars ($10,000.00), payable to the State of Mississippi for the faithful performance by the licensee of the duties and obligations pertaining to the business so licensed and the prompt payment of any judgment which may be recovered against the licensee on account of charges or other claims arising directly or collectively from any violation of the provisions of this article. The bond shall not be valid until it is approved by the commissioner. The applicant may file, in lieu of the bond, cash, a certificate of deposit or government bonds in the amount of Ten Thousand Dollars ($10,000.00). Those deposits shall be filed with the commissioner and are subject to the same terms and conditions as are provided for in the surety bond required in this paragraph. Any interest or earnings on those deposits are payable to the depositor.
(d)
File with the commissioner an application for a license and the initial license fee required in this article. If applicant's application is approved, a check casher license will be issued within thirty (30) days.
(e)
Submit a set of fingerprints from any local law enforcement agency. In order to determine the applicant's suitability for license, the commissioner shall forward the fingerprints to the Department of Public Safety; and if no disqualifying record is identified at the state level, the fingerprints shall be forwarded by the Department of Public Safety to the FBI for a national criminal history record check.
(f)
Complete and file with the commissioner an annual renewal application for a license accompanied by the renewal fee required in this article.
Laws, 1998, ch. 587, § 5; reenacted and amended, Laws, 1999, ch. 481, § 5; reenacted without change, Laws, 2003, ch. 341, § 5; reenacted without change, Laws, 2007, ch. 488, § 5; reenacted without change, Laws, 2011, ch. 309, § 5, eff. 2/24/2011.
Reenacted without change by Laws, 2013, ch. 408, HB 559, 5, eff. 3/20/2013.