Pawnbroker's License ($2,000) Bond - Statewide in Connecticut

Brief Summary

Connecticut pawnbrokers are licensed town by town, and the $2,000 bond is filed with the local licensing authority, not a state office. Get the obligee right the first time and the bond goes straight into your application with the chief of police, or with the Department of Emergency Services and Public Protection if your town has no organized police department.

Under Connecticut General Statutes 21-40, a pawnbroker must file a $2,000 bond with competent surety, payable to the city or town where the business operates and approved by that town's licensing authority. The license costs $50 to start and $25 a year to renew, and runs for one year. A pawnbroker who also holds a secondhand dealer license under 21-47d has the pawnbroker bond and renewal fees waived.

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How to Apply for a Pawnbroker's License ($2,000) Bond:

• Identify your licensing authority: the chief of police in your town or city, or DESPP if the town has no organized police department.
• Have the business name and the town or city name ready exactly as they will appear on the license.
• Owner name, home address and Social Security number for the surety's credit review.
• Complete the bond application and pay the premium.
• Receive the executed $2,000 bond naming the city or town as obligee.
• File the bond with the licensing authority along with the sworn application, fingerprints and the $50 license fee.

Detailed Information About the Connecticut Pawnbroker's License ($2,000) Bond:

The bond goes to the town, not the state

Connecticut General Statutes 21-39 bars anyone from running a pawnbroker business in any city or town without a license under section 21-40. The license is granted locally. Section 21-39a defines the licensing authority as the chief of police of the town or city, or the Commissioner of Emergency Services and Public Protection where the town has no organized local police department.

The statute requires a bond to such city or town, with competent surety, in the penal sum of $2,000, approved by the licensing authority and conditioned for the faithful performance of the duties and obligations of the licensed business. The obligee is the municipality where the shop is located.

Fees and term

The license fee is $50, then $25 per year to renew. Each license is in effect for one year unless suspended or revoked sooner. DESPP states that applicants submit the fee and fingerprints for each license application.

Secondhand dealers already licensed

If you also hold a secondhand dealer license under section 21-47d, the licensing authority waives the renewal fees and the pawnbroker bond. Keep in mind that the secondhand dealer license carries its own $10,000 bond to the town under section 21-47d.

Who cannot be licensed

Section 21-40 bars a license for anyone convicted of a felony. The application is made under oath and asks for residence and employment history, criminal convictions and any websites used for the business. Operating without a license is a class D felony under section 21-47.

Eligibility and Requirements for a Connecticut Pawnbroker's License ($2,000) Bond:

• Bond amount of $2,000, payable to the city or town where the business operates.
• Bond approved by the local licensing authority.
• Condition: faithful performance of the duties and obligations of the licensed pawnbroker business.
• No felony convictions for the applicant.
• Annual renewal at $25 per year, with the bond kept in force for the license term.

Connecticut Pawnbroker's License ($2,000) Bond FAQs:

Official and Additional Resources for the Connecticut Pawnbroker's License ($2,000) Bond: