{"id":1233,"date":"2013-06-13T03:13:20","date_gmt":"2013-06-13T03:13:20","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1233"},"modified":"2020-03-02T00:11:28","modified_gmt":"2020-03-02T00:11:28","slug":"indiana-pawnbroker-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/indiana-pawnbroker-bond\/","title":{"rendered":"Indiana Pawnbroker Bond"},"content":{"rendered":"<p>No person may engage in pawnbroking unless he or she has submitted an <strong>Indiana pawnbroker bond<\/strong> and received authorization from the state to do so. \u00a0&#8220;Pawnbroker&#8221; is defined by statute as any person, partnership, association, limited liability company, or corporation lending money on the deposit or pledge of personal property, or who deals in the purchase of personal property on the condition of selling the property back again at a stipulated price, other than choses in action, securities, or printed evidence of indebtedness (<a title=\"IN Pawnbroker law\" href=\"http:\/\/www.in.gov\/legislative\/ic\/2010\/title28\/ar7\/ch5.html\" target=\"_blank\" rel=\"noopener noreferrer\">IC 28-7-5-2<\/a>). \u00a0The <strong>Indiana pawnbroker surety bond\u00a0<\/strong>must must be written in the amount of $50,000 and issued by a surety company qualified to transact business in the state. \u00a0Due to changes in the pawnbroking laws, as of 2010 all pawnbrokers are required to provide this $50,000 bond for EACH location with a maximum of $200,000 in open bonds. \u00a0Additionally the law requires certain levels of net worth and operating capital which must be reviewed and reported on by a certified public accountant.<\/p>\n<p>The <strong><a title=\"IN pawnbroker bond form\" href=\"http:\/\/www.in.gov\/dfi\/files\/50292.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Indiana pawnbroker bond<\/a><\/strong> obligation guarantees that the pawnbroker will faithfully conform to and abide by the provisions of all applicable laws, including the Indiana Pawnbroking Law, as well as any rules and regulations lawfully adopted by the <a title=\"IN Dept of Fin Instit.\" href=\"http:\/\/www.in.gov\/dfi\/2336.htm\" target=\"_blank\" rel=\"noopener noreferrer\">Department of Financial Institutions<\/a>, and will pay any and all amounts which become due or owed to any party. \u00a0The bond is not cumulative, being limited to only the penal amount of the bond on its face and there is no forfeiture provision. \u00a0The instrument is continuous &#8220;until released by the DFI&#8221;, however the wording of the <strong>Indiana pawnbroker surety bond\u00a0<\/strong>states that the surety has the right to terminate or reduce its liability by giving the Principal and the DFI written notice of the same via certified mail to the DFI at least thirty (30) days prior to the effective date of a termination. \u00a0The form also specifically authorizes reinstatement after cancellation by surety mailing its consent. \u00a0The obligation does have a &#8220;tail&#8221;, the liability of the surety expiring two (2) years after the date of the surrender, revocation, or expiration of the pawnbroker&#8217;s license, whichever comes first.<\/p>\n<p><strong>Indiana surety leader<\/strong>,\u00a0Surety One, Inc.\u00a0is THE source for\u00a0<strong>pawnbroker surety bonds<\/strong>. \u00a0We offer terms to ALL pawnbroker applicants regardless of credit condition. Keep us in mind also for your fidelity bond needs. \u00a0They are an excellent hedge against losses due to employee dishonesty. \u00a0Visit us at\u00a0<a href=\"https:\/\/suretyone.com\" target=\"_blank\" rel=\"noopener noreferrer\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0<strong>Indiana pawnbroker bond<\/strong>\u00a0application or for information about any bond product.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No person may engage in pawnbroking unless he or she has submitted an Indiana pawnbroker bond and received authorization from the state to do so. \u00a0&#8220;Pawnbroker&#8221; is defined by statute as any person, partnership, association, limited liability company, or corporation&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/indiana-pawnbroker-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":[],"categories":[139],"tags":[1529,1528,1526,1527,1655,2530],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indiana Pawnbroker Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"description\" content=\"No person may engage in pawnbroking unless he or she has submitted an Indiana pawnbroker bond\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/indiana-pawnbroker-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indiana Pawnbroker Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"No person may engage in pawnbroking unless he or she has submitted an Indiana pawnbroker bond\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/indiana-pawnbroker-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-13T03:13:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-02T00:11:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/Oregon-pawnbroker-bond.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. 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