Non-Depository Division of the Office of Financial Institutions regulates
the licensing of pawnbrokers operating within the state of Louisiana.
The Office began to regulate pawnshops in September 1993, after passage of a
comprehensive licensing bill enacted by the Louisiana Legislature.
Requirements included in the Act still in effect are:
The applicant must have verifiable net assets of at least $50,000 when
applying for licensure
OR must maintain a $50,000
surety bond issued by a surety licensed to do business in Louisiana.
The applicant shall not have been convicted of a felony
under the laws of the United States, the state of Louisiana, or any other state or country within the last ten years.
The applicant shall be over eighteen years of age and of good character and
All further requirements are
enumerated in the license application. The timeframe for
licensure usually runs between four and six weeks.
All pawnbrokers are subject to examination by our Office.
The fees for licensure are as follows:
Initial licensure - $1,000
Additional license to operate at another location - $500
Annual renewal license fee for each location - $300
Penalties are assessed for late
Before changing locations, the licensee is
required to submit to the Commissioner a 30 day written notice and submit a
Additionally, the pawnbroker must provide a 30 day
written notice to all persons holding pawn tickets prior to his relocation
or before a pawnbroker can cease to do business.