S-3480.2 _______________________________________________
SENATE BILL 6375
_______________________________________________
State of Washington 55th Legislature 1998 Regular Session
By Senators Winsley, Prentice, Sellar, Hale and Benton
Read first time 01/16/98. Referred to Committee on Financial Institutions, Insurance & Housing.
AN ACT Relating to the rates of interest and other fees charged by pawnbrokers; and amending RCW 19.60.060.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 19.60.060 and 1995 c 133 s 2 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 for the loan period 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))
2.00 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))
2.25 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))
2.50 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))
2.75 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))
3.00 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))
3.25 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))
3.50 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))
3.75 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))
4.00 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))
five 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;
(c)
For the amount loaned from $10.00 to $14.99 ‑ the sum of $((3.00))
3.50;
(d)
For the amount loaned from $15.00 to $19.99 ‑ the sum of $((3.50))
4.00.
(e)
For the amount loaned from $20.00 to $24.99 ‑ the sum of $((4.00))
4.50.
(f)
For the amount loaned from $25.00 to $29.99 ‑ the sum of $((4.50))
5.00.
(g)
For the amount loaned from $30.00 to $34.99 ‑ the sum of $((5.00))
6.00.
(h)
For the amount loaned from $35.00 to $39.99 ‑ the sum of $((5.50))
6.50.
(i)
For the amount loaned from $40.00 to $44.99 ‑ the sum of $((6.00))
7.00.
(j)
For the amount loaned from $45.00 to $49.99 ‑ the sum of $((6.50))
7.50.
(k)
For the amount loaned from $50.00 to $54.99 ‑ the sum of $((7.00))
8.00.
(l)
For the amount loaned from $55.00 to $59.99 ‑ the sum of $((7.50))
8.50.
(m)
For the amount loaned from $60.00 to $64.99 ‑ the sum of $((8.00))
9.00.
(n)
For the amount loaned from $65.00 to $69.99 ‑ the sum of $((8.50))
9.50.
(o)
For the amount loaned from $70.00 to $74.99 ‑ the sum of $((9.00))
10.00.
(p)
For the amount loaned from $75.00 to $79.99 ‑ the sum of $((9.50))
10.50.
(q)
For the amount loaned from $80.00 to $84.99 ‑ the sum of $((10.00))
11.00.
(r)
For the amount loaned from $85.00 to $89.99 ‑ the sum of $((10.50))
11.50.
(s)
For the amount loaned from $90.00 to $94.99 ‑ the sum of $((11.00))
12.00.
(t)
For the amount loaned from $95.00 to $99.99 ‑ the sum of $((11.50))
12.50.
(u)
For the amount loaned from $100.00 to $104.99 ‑ the sum of $((12.00))
14.00.
(v)
For the amount loaned from $105.00 to $109.99 ‑ the sum of $((12.25))
14.25.
(w)
For the amount loaned from $110.00 to $114.99 ‑ the sum of $((12.75))
14.75.
(x)
For the amount loaned from $115.00 to $119.99 ‑ the sum of $((13.25))
15.25.
(y)
For the amount loaned from $120.00 to $124.99 ‑ the sum of $((13.50))
15.50.
(z)
For the amount loaned from $125.00 to $129.99 ‑ the sum of $((13.75))
15.75.
(aa)
For the amount loaned from $130.00 to $149.99 ‑ the sum of $((14.50))
16.50.
(bb)
For the amount loaned from $150.00 to $174.99 ‑ the sum of $((14.75))
16.75.
(cc)
For the amount loaned from $175.00 to $199.99 ‑ the sum of $((15.00))
17.00.
(dd)
For the amount loaned from $200.00 to $224.99 ‑ the sum of $((16.00))
18.50.
(ee)
For the amount loaned from $225.00 to $249.99 ‑ the sum of $((17.00))
19.50.
(ff)
For the amount loaned from $250.00 to $274.99 ‑ the sum of $((18.00))
20.50.
(gg)
For the amount loaned from $275.00 to $299.99 ‑ the sum of $((19.00))
21.50.
(hh)
For the amount loaned from $300.00 to $324.99 ‑ the sum of $((20.00))
22.50.
(ii)
For the amount loaned from $325.00 to $349.99 ‑ the sum of $((21.00))
23.50.
(jj)
For the amount loaned from $350.00 to $374.99 ‑ the sum of $((22.00))
24.50.
(kk)
For the amount loaned from $375.00 to $399.99 ‑ the sum of $((23.00))
25.50.
(ll)
For the amount loaned from $400.00 to $424.99 ‑ the sum of $((24.00))
26.50.
(mm)
For the amount loaned from $425.00 to $449.99 ‑ the sum of $((25.00))
27.50.
(nn)
For the amount loaned from $450.00 to $474.99 ‑ the sum of $((26.00))
28.50.
(oo)
For the amount loaned from $475.00 to $499.99 ‑ the sum of $((27.00))
29.50.
(pp)
For the amount loaned from $500.00 to $524.99 ‑ the sum of $((28.00))
31.00.
(qq)
For the amount loaned from $525.00 to $549.99 ‑ the sum of $((29.00))
32.00.
(rr)
For the amount loaned from $550.00 to $599.99 ‑ the sum of $((30.00))
33.00.
(ss)
For the amount loaned from $600.00 to $699.99 ‑ the sum of $((35.00))
38.00.
(tt)
For the amount loaned from $700.00 to $799.99 ‑ the sum of $((40.00))
43.00.
(uu)
For the amount loaned from $800.00 to $899.99 ‑ the sum of $((40.00))
45.00.
(vv)
For the amount loaned from $900.00 to $999.99 ‑ the sum of $((50.00))
53.00.
(ww)
For the amount loaned from $1000.00 to $1499.99 ‑ the sum of $((55.00))
58.00.
(xx)
For the amount loaned from $1500.00 to $1999.99 ‑ the sum of $((60.00))
63.00.
(yy)
For the amount loaned from $2000.00 to $2499.99 ‑ the sum of $((65.00))
68.00.
(zz)
For the amount loaned from $2500.00 to $2999.99 ‑ the sum of $((70.00))
73.00.
(aaa)
For the amount loaned from $3000.00 to $3499.99 ‑ the sum of $((75.00))
78.00.
(bbb)
For the amount loaned from $3500.00 to $3999.99 ‑ the sum of $((80.00))
83.00.
(ccc)
For the amount loaned from $4000.00 to $4499.99 ‑ the sum of $((85.00))
88.00.
(ddd)
For the amount loaned from $4500.00 or more ‑ the sum of $((90.00))
93.00.
(3) Fees under subsection (2) of this section may be charged one time only for each loan period; no additional fees, other than interest allowed under subsection (1) of this section, shall be charged for making 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.
--- END ---