OAR 441-740-0029
Pawnbrokers Requirements for Off-Site Storage

(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.

Source: Rule 441-740-0029 — Pawnbrokers Requirements for Off-Site Storage, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-740-0029.

Last Updated

Jun. 8, 2021

Rule 441-740-0029’s source at or​.us