1997 Minnesota Statutes

     325J.095 Motor vehicle title pawn transactions; special 
  provisions. 

    (a) In addition to the other requirements of this chapter, 
 a pawnbroker who holds a title to a motor vehicle as part of a 
 pawn transaction shall: 

    (1) be licensed as a used motor vehicle dealer under 
 section 168.27, and post such license on the pawnshop premises; 

    (2) verify that there are no liens or encumbrances against 
 the motor vehicle with the department of public safety; and 

    (3) verify that the pledgor has automobile insurance on the 
 motor vehicle as required by law. 

    (b) A pawnbroker may not sell a motor vehicle covered by a 
 pawn transaction until 90 days after recovery of the motor 
 vehicle. 

    HIST: 1996 c 404 s 10