5.110.080 Interest and charges.
(a) No pawnbroker shall contract for, charge or receive, directly or indirectly or in connection with any pawnbroker transaction, any charges, whether for interest, storage, insurance, service fee, handling, compensation, consideration or expense, which in the aggregate are greater than the charges provided and authorized by this chapter. Any other provisions of law relating to interest, storage and such charges as stated in this section shall not be applicable to any pawnbroker transaction made in accordance with this chapter.
(b) Whenever any loan is made by a pawnbroker for which goods are received in pledge:
(1) A charge may be added in an amount not to exceed 10 percent per month or 120 percent per annum of the amount advanced to the borrower; and
(2) The maximum amount of a loan authorized by this chapter shall not exceed $5,000 per transaction.
(c) The charges authorized in this section shall be deemed to be earned at the time the loan is made and shall not be subject to refund. On loans under this chapter, no insurance charges or any other charges of any nature whatsoever shall be permitted.
(d) The maximum amount of a loan as authorized in this section is limited to pledged goods in one transaction, and the act of pawning a pawn ticket or other written indicia of a loan or other indicia of a loan for additional money is prohibited. (Ord. 16376 § 1(38-57), 10-1-91. Code 1995 § 114-93.)
State Law References:Similar provisions, K.S.A. 16-719.