BP BHEAD INT H

AN ACT Relating to fees for preparation of loan documents, pledges, or reports by pawnbrokers and second-hand dealers; and amending RCW 19.60.010 and 19.60.060.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1. RCW 19.60.010 and 1991 c 323 s 1 are each amended to read as follows:

Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.

(1) Melted metals means metals derived from metal junk or precious metals that have been reduced to a melted state from other than ore or ingots which are produced from ore that has not previously been processed.

(2) Metal junk means any metal that has previously been milled, shaped, stamped, or forged and that is no longer useful in its original form, except precious metals.

(3) Nonmetal junk means any nonmetal, commonly discarded item that is worn out, or has outlasted its usefulness as intended in its original form except nonmetal junk does not include an item made in a former period which has enhanced value because of its age.

(4) Pawnbroker means every person engaged, in whole or in part, in the business of loaning money on the security of pledges of personal property, or deposits or conditional sales of personal property, or the purchase or sale of personal property.

(5) Precious metals means gold, silver, and platinum.

(6) Second-hand dealer means every person engaged in whole or in part in the business of purchasing, selling, trading, consignment selling, or otherwise transferring for value, second-hand property including metal junk, melted metals, precious metals, whether or not the person maintains a fixed place of business within the state. Second-hand dealer also includes persons or entities conducting business at flea markets or swap meets, more than three times per year.

(7) Second-hand property means any item of personal property offered for sale which is not new, including metals in any form, except postage stamps, coins that are legal tender, bullion in the form of fabricated hallmarked bars, used books, and clothing of a resale value of seventy-five dollars or less, except furs.

(8) Transaction means a pledge, or the purchase of, or consignment of, or the trade of any item of personal property by a pawnbroker or a second-hand dealer from a member of the general public.

((~~(9) Term of the loan as defined in this chapter shall be set for a period of thirty days to include the date of the loan.~~))

Sec. 2. RCW 19.60.060 and 1991 c 323 s 7 are each amended to read as follows:

All pawnbrokers are authorized to charge and receive interest and other fees at the following rates for money on the security of personal property actually received in pledge:

(1) The interest shall not exceed:

(a) For an amount loaned up to $ 9.99 ‑ interest at $1.00 for each thirty-day period to include the loan date.

(b) For an amount loaned from $10.00 to $19.99 ‑ interest at the rate of $1.25 for each thirty-day period to include the loan date.

(c) For an amount loaned from $20.00 to $24.99 ‑ interest at the rate of $1.50 for each thirty-day period to include the loan date.

(d) For an amount loaned from $25.00 to $34.99 ‑ interest at the rate of $1.75 for each thirty-day period to include the loan date.

(e) For an amount loaned from $35.00 to $39.99 ‑ interest at the rate of $2.00 for each thirty-day period to include the loan date.

(f) For an amount loaned from $40.00 to $49.99 ‑ interest at the rate of $2.25 for each thirty-day period to include the loan date.

(g) For the amount loaned from $50.00 to $59.99 ‑ interest at the rate of $2.50 for each thirty-day period to include the loan date.

(h) For the amount loaned from $60.00 to $69.99 ‑ interest at the rate of $2.75 for each thirty-day period to include the loan date.

(i) For the amount loaned from $70.00 to $79.99 ‑ interest at the rate of $3.00 for each thirty-day period to include the loan date.

(j) For the amount loaned from $80.00 to $89.99 ‑ interest at the rate of $3.25 for each thirty-day period to include the loan date.

(k) For the amount loaned from $90.00 to $99.99 ‑ interest at the rate of $3.50 for each thirty-day period to include the loan date.

(l) For the amount loaned from $100.00 or more ‑ interest at the rate of three percent for each thirty-day period to include the loan date.

(2) The fee for the preparation of loan documents, pledges, or reports required under the laws of the United States of America, the state of Washington, or the counties, cities, towns, or other political subdivisions thereof, shall not exceed:

(a) For the amount loaned up to $4.99 ‑ the sum of $.50;

(b) For the amount loaned from $5.00 to $9.99 ‑ the sum of $2.00;

(d) For the amount loaned from $15.00 to $19.99 ‑ the sum of $3.50.

(e) For the amount loaned from $20.00 to $24.99 ‑ the sum of $4.00.

(f) For the amount loaned from $25.00 to $29.99 ‑ the sum of $4.50.

(g) For the amount loaned from $30.00 to $34.99 ‑ the sum of $5.00.

(h) For the amount loaned from $35.00 to $39.99 ‑ the sum of $5.50.

(i) For the amount loaned from $40.00 to $44.99 ‑ the sum of $6.00.

(j) For the amount loaned from $45.00 to $49.99 ‑ the sum of $6.50.

(k) For the amount loaned from $50.00 to $54.99 ‑ the sum of $7.00.

(l) For the amount loaned from $55.00 to $59.99 ‑ the sum of $7.50.

(m) For the amount loaned from $60.00 to $64.99 ‑ the sum of $8.00.

(n) For the amount loaned from $65.00 to $69.99 ‑ the sum of $8.50.

(o) For the amount loaned from $70.00 to $74.99 ‑ the sum of $9.00.

(p) For the amount loaned from $75.00 to $79.99 ‑ the sum of $9.50.

(q) For the amount loaned from $80.00 to $84.99 ‑ the sum of $10.00.

(r) For the amount loaned from $85.00 to $89.99 ‑ the sum of $10.50.

(s) For the amount loaned from $90.00 to $94.99 ‑ the sum of $11.00.

(t) For the amount loaned from $95.00 to $99.99 ‑ the sum of $11.50.

(u) For the amount loaned from $100.00 to $104.99 ‑ the sum of $12.00.

(v) For the amount loaned from $105.00 to $109.99 ‑ the sum of $12.25.

(w) For the amount loaned from $110.00 to $114.99 ‑ the sum of $12.75.

(x) For the amount loaned from $115.00 to $119.99 ‑ the sum of $13.25.

(y) For the amount loaned from $120.00 to $124.99 ‑ the sum of $13.50.

(z) For the amount loaned from $125.00 to $129.99 ‑ the sum of $13.75.

(aa) For the amount loaned from $130.00 to $149.99 ‑ the sum of $14.50.

(bb) For the amount loaned from $150.00 to $174.99 ‑ the sum of $14.75.

(cc) For the amount loaned from $175.00 to $199.99 ‑ the sum of $15.00.

(dd) For the amount loaned from $200.00 to $224.99 ‑ the sum of $16.00.

(ee) For the amount loaned from $225.00 to $249.99 ‑ the sum of $17.00.

(ff) For the amount loaned from $250.00 to $274.99 ‑ the sum of $18.00.

(gg) For the amount loaned from $275.00 to $299.99 ‑ the sum of $19.00.

(hh) For the amount loaned from $300.00 to $324.99 ‑ the sum of $20.00.

(ii) For the amount loaned from $325.00 to $349.99 ‑ the sum of $21.00.

(jj) For the amount loaned from $350.00 to $374.99 ‑ the sum of $22.00.

(kk) For the amount loaned from $375.00 to $399.99 ‑ the sum of $23.00.

(ll) For the amount loaned from $400.00 to $424.99 ‑ the sum of $24.00.

(mm) For the amount loaned from $425.00 to $449.99 ‑ the sum of $25.00.

(nn) For the amount loaned from $450.00 to $474.99 ‑ the sum of $26.00.

(oo) For the amount loaned from $475.00 to $499.99 ‑ the sum of $27.00.

(pp) For the amount loaned from $500.00 to $524.99 ‑ the sum of $28.00.

(qq) For the amount loaned from $525.00 to $549.99 ‑ the sum of $29.00.

(rr) For the amount loaned from $550.00 to $599.99 ‑ the sum of $30.00.

(ss) For the amount loaned from $600.00 to $699.99 ‑ the sum of $35.00.

(tt) For the amount loaned from $700.00 to $799.99 ‑ the sum of $40.00.

(uu) For the amount loaned from $800.00 to $899.99 ‑ the sum of $40.00.

(vv) For the amount loaned from $900.00 to $999.99 ‑ the sum of $50.00.

(ww) For the amount loaned from $1000.00 to $1499.99 ‑ the sum of $55.00.

(xx) For the amount loaned from $1500.00 to $1999.99 ‑ the sum of $60.00.

(yy) For the amount loaned from $2000.00 to $2499.99 ‑ the sum of $65.00.

(zz) For the amount loaned from $2500.00 to $2999.99 ‑ the sum of $70.00.

(aaa) For the amount loaned from $3000.00 to $3499.99 ‑ the sum of $75.00.

(bbb) For the amount loaned from $3500.00 to $3999.99 ‑ the sum of $80.00.

(ccc) For the amount loaned from $4000.00 to $4499.99 ‑ the sum of $85.00.

(ddd) For the amount loaned from $4500.00 or more ‑ the sum of $90.00.

(3) Fees under subsection (2) of this section may be charged one time only ((~~during the term of the loan~~)).

A copy of this section, set in twelve point type or larger, shall be posted prominently in each premises subject to this chapter.