✓ Record-Keeping Compliance • ✓ Electronic Reporting • ✓ 3-Year Record Retention
Stop paying monthly fees. Arkansas pawnbrokers using PPSS paid $695-$995 once for a lifetime license. Three years later? Still $695-$995 total. No monthly subscriptions, no annual price increases, no surprise renewal fees.
Handles Arkansas's record-keeping requirements under Ark. Code §12-12-103, electronic reporting to law enforcement, and 3-year record retention. (Click the Purple Video Button above for a software overview.)
Typical subscription: $300/month = $10,800 over 3 years.
PPSS: $895 once + $590 updates = $1,485 over 3 years.
Savings: $9,315 in three years. Over five years? $16,515.
Updates: $295/year or $737 once.
In 2021, Arkansas repealed its Pawnbroker Act (Act 491 of 2021, repealing Arkansas Code Title 17, Chapter 56). Arkansas is now one of the few states without specific pawn industry licensing or interest rate regulations at the state level. However, Arkansas pawnbrokers still operate under criminal record-keeping requirements (Ark. Code §12-12-103) and face constitutional usury considerations.
Pawnbroker Pawn Shop Software (PPSS) Arkansas Edition maintains required transaction records, generates electronic reports for law enforcement, provides 3-year record retention, and tracks all transaction details required under §12-12-103.
Arkansas's Constitutional Usury Cap: Arkansas's state constitution caps interest at 17% annually (5% above Federal Reserve rate, but the Federal Reserve Discount Rate on 90-day commercial paper is no longer published, creating interpretive challenges). Multiple class-action lawsuits were filed against Arkansas pawnbrokers in 2016 alleging usury violations. The 2021 repeal of the Pawnbroker Act did not resolve the constitutional usury question. Arkansas pawnbrokers should consult legal counsel regarding interest rate compliance. PPSS is software for record-keeping and transaction management—it does not provide legal advice on permissible interest rates.
Pawnbroker Act Repealed in 2021 (Act 491)
Arkansas Code Title 17, Chapter 56 (Arkansas Pawnbroker Act) was repealed effective 2021. There is currently no state licensing requirement, no state interest rate cap specific to pawn transactions, and no state-mandated loan terms or forfeiture periods. Arkansas pawnbrokers operate under general criminal record-keeping laws rather than industry-specific licensing.
Record-Keeping Under Criminal Code (§12-12-103)
Arkansas pawnshops must keep detailed records of all property pawned or purchased, including: transaction date, property description, seller/pledgor information, amount paid, and transaction type. Records must be maintained for 3 years and be accessible to Arkansas State Police, county sheriffs, and municipal police officers. Electronic record submission is allowed.
Constitutional Usury Consideration
Arkansas's state constitution (Article 19, Section 13) originally capped interest at 10%, later amended to 5% above the Federal Reserve Discount Rate. This creates legal uncertainty for pawnbrokers who typically charge higher rates. The 2021 repeal eliminated specific pawn industry exemptions, leaving the constitutional question unresolved. Arkansas pawnbrokers should seek legal guidance on permissible rates.
Arkansas is currently one of the few states without a state-level pawnbroker licensing system. This creates both opportunities and challenges:
What Arkansas Pawnbrokers Still Require:
The absence of state licensing doesn't eliminate record-keeping obligations. PPSS helps Arkansas pawnbrokers maintain comprehensive transaction records required under §12-12-103.
U.S. Pawn and Loan, Austin, AR
"After Arkansas repealed the Pawnbroker Act in 2021, we needed software that could handle the new reality - no state licensing, but still strict record-keeping under §12-12-103. We bought PPSS Professional for $895 three years ago. Old subscription software wanted $325/month = $11,700 over three years. PPSS cost us $895 + $590 updates = $1,485 total. Saved $10,215. The 3-year record retention is built right in, exports to CSV for law enforcement, and we can track everything the statute requires without the overhead of complying with a licensing system that no longer exists. Perfect for the post-2021 Arkansas environment."
Pate's Gun and Pawn, Bearden, AR
"We've been using PPSS for six years - bought it before the Pawnbroker Act was even repealed. Paid $895 once. Still using it today. That's $895 total over six years while competitors pay $300-$350/month for subscriptions. They've spent $21,600+ while we spent $895 + $1,475 for five years of updates = $2,370. We saved over $19,000. When Arkansas repealed the licensing system, PPSS didn't skip a beat. We still track every transaction detail, maintain the 3-year records law enforcement needs, and export everything electronically. The constitutional usury question is still unsettled, but PPSS lets us set our own rates and track them properly for disclosure. Couldn't ask for better software in Arkansas's unique regulatory environment."
From Little Rock to Fort Smith, Arkansas pawnbrokers rely on PPSS to navigate the post-2021 regulatory landscape while maintaining complete transaction records.
Arkansas Code §12-12-103 requires pawnshops to keep detailed records showing:
PPSS maintains all required fields automatically in every transaction record.
Arkansas law requires pawnshops to maintain transaction records for 3 years. Records must be accessible to:
PPSS provides searchable archives of all transactions with date filters, customer lookups, and item description searches. Records can be exported for law enforcement requests.
Arkansas allows electronic submission of transaction records to law enforcement. The law specifies that pawnshops, pawnbrokers, and customers "shall not be required to incur any costs or increased fees as a result of the city, county, or state collecting and processing records required electronically."
PPSS generates electronic export files compatible with law enforcement reporting systems. Formats include CSV, XML, and PDF reports that can be submitted electronically or printed.
Failure to comply with §12-12-103 record-keeping requirements is punishable by a fine of up to $1,000. PPSS helps Arkansas pawnbrokers avoid penalties by automatically maintaining all required transaction details.
Current Status (Post-2021):
Remaining Requirements:
Historical Context:
PPSS provides: Complete transaction record-keeping per §12-12-103, 3-year record retention and archiving, CSV export for law enforcement reporting, searchable transaction history, customer identification tracking, detailed property descriptions.
Basic License: $695
Professional License: $895
Multi-Station: $995
Software Updates (Year 2+):
