Alaska Pawn Regulation: Title 8, Chapter 76
Alaska enacted comprehensive statewide pawnbroker regulation in 2010 through SB 292, which went into effect on July 1, 2011 [citation:1][citation:5]. Prior to this, Alaska was the only state without statewide pawnbroker regulation [citation:1]. The regulatory framework is administered by the Division of Corporations, Business and Professional Licensing [citation:5].
Licensing Requirements — AS 08.76.110 & Administrative Code
AS 08.76.110 establishes the requirements for obtaining a pawnbroker license. The department may issue a license if the person [citation:2]:
- Has good character
- Has the experience to engage in business as a pawnbroker
- Is fit to engage in business as a pawnbroker
- Submits an application as required by the department
- Pays the applicable fee
Experience requirements — 12 AAC 76.010: Applicants must demonstrate required experience by providing [citation:9]:
- Documentation showing at least six months of ownership or management experience in a business, including experience in financial transactions, sale or purchase of goods, or inventory maintenance; OR
- Documentation of completion of a two-year college degree program or higher level of education
Background check: Applicants must submit a criminal history report issued no earlier than 90 days before application. If the applicant has ever held a pawnbroker license in another state, a similar report from that state is also required [citation:9].
License term: The Alaska pawnbroker license is valid for up to 2 years and expires on December 31 of every odd year [citation:5].
PPSS is a recordkeeping tool only. The software does not track licenses, character requirements, or background checks. You are responsible for obtaining and maintaining your Alaska pawnbroker license and business license.
Register Requirements — AS 08.76.180
AS 08.76.180 establishes detailed recordkeeping requirements for every pawnbroker transaction [citation:3]:
Required information per transaction:
- Date of the pawnbroker transaction
- Name of the person conducting the transaction
- Name, age, and address of the pledgor or purchaser
- Description of the pledged or purchased property — including the serial number, model number, or other number on the item of property
- Price paid or amount loaned
- Signature of the pledgor or seller
- Type of identification used, name of the government agency that issued the identification, and the number written on the identification
Electronic format requirement: The register for pawn transactions must be in an electronic format, except for pawnbrokers located in municipalities with a population of 6,000 or fewer (as of July 1, 2011), who may use a book register [citation:3].
Record retention: A pawnbroker shall maintain the record of a completed pawnbroker transaction for one year after completion [citation:3].
Falsification prohibited: A pawnbroker may not falsify or intentionally fail to make an entry of a material matter in a register [citation:3].
PPSS includes dedicated fields for all Alaska-required information and supports electronic format recordkeeping. You are responsible for ensuring all required data is captured accurately and retained for the required period.
Prohibited Transactions — SB 292
Under SB 292, a pawnbroker may not enter into a transaction with a person who is [citation:1]:
- Under age 18
- Under the influence of alcohol or a controlled substance
- Without proper identification
- Pawning stolen property
PPSS includes date of birth fields to help you verify age. You are responsible for ensuring compliance with all prohibited transaction requirements.
30-Day Grace Period & Military Deployment Protection
SB 292 established important consumer protections for Alaska pawn customers [citation:1]:
30-day grace period: If a person is unable to repay their loan within the agreed time, they are entitled to a 30-day grace period [citation:1].
Military deployment interest freeze: If a service member pawns an item and then deploys, the interest on the item is frozen until the service member returns. At that time, the original agreement becomes active again [citation:1].
PPSS can be configured to track grace periods and deployment interest freezes. You are responsible for applying these protections correctly under Alaska law.
Weekly Inventory & Reporting Requirements
Pawnbrokers are required to conduct a weekly inventory and report to local law enforcement agencies [citation:1].
PPSS includes reporting tools that can help you generate inventory reports. You are responsible for submitting reports to local law enforcement as required.
Secondhand Dealers Distinction
SB 292 specifically removed pawnbrokers from regulations governing secondhand stores and used bookstores [citation:1]. Pawnbrokers are now exclusively regulated under AS 08.76.100-08.76.590, while secondhand dealers operate under separate regulations (AS 08.76.010) [citation:1][citation:6].
Exemptions — AS 08.76.500: The pawnbroker chapter does not apply to financial institutions regulated under AS 06, including banks, credit unions, small loan companies, and deferred deposit advance licensees [citation:8].
Penalties
Pawnbrokers may be disciplined if they do not adhere to statutory requirements [citation:1]. The Department of Commerce, Community, and Economic Development makes final licensing decisions and takes disciplinary actions against persons who violate licensing laws [citation:5].
