FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 19, 2007 No. 196-FZ

About pawnshops

Accepted by the State Duma of the Russian Federation on June 29, 2007

Approved by Council of the Russian Federation on July 6, 2007

Chapter 1. General provisions

Article 1. Subject of regulation and coverage of this Federal Law

1. This Federal Law governs the relations arising when implementing by pawnshops of crediting of citizens on the security of the things belonging to citizens and activities for storage of things.

2. Operation of this Federal Law does not extend to activities of credit institutions.

Article 2. Concept of pawnshop and the main requirements imposed to the activities performed by pawnshop

1. Pawnshop is the legal entity registered in the form of economic society, data on which are entered in the state register of pawnshops according to the procedure, provided by this Federal Law and the regulation of the Bank of Russia and which core activities are provision of short-term loans to citizens (physical persons) on the security of the movable things (personal estate) belonging to them intended for private consumption and storage of things.

1.1. Pawnshops have the right to perform professional activity on provision of consumer loans according to the procedure, established by the Federal Law "About Consumer Loan (Loan)".

2. The pawnshop has no right to raise money of physical persons, including individual entrepreneurs, except for money of physical persons, including the individual entrepreneurs who are shareholders (participants) of pawnshop.

3. The pawnshop has the right to accept local time daily from 8 to 23 o'clock in pledge and on storage the movable things (personal estate) belonging to the borrower or the bailor and intended for private consumption, except for the things withdrawn from circulation, and also things on which turnover the legislation of the Russian Federation sets the corresponding restrictions.

4. The pawnshop is forbidden to be engaged in any other business activity, except provision of short-term loans to citizens on the security of the movable things (personal estate) belonging to the borrower and intended for private consumption, storage of things leasing (sublease) of the real estate belonging to pawnshop on the property right (leases, subleases), implementation of activities of the bank payment agent, and also rendering consulting and information services,

5. The pawnshop has no right to use and dispose of the pawned and checked items.

6. In pawnshop (in each territorially separate division) shall be created conditions for storage of the pawned and checked items, the ensuring their safety, lack of harmful effects and excluding access for strangers to them. Establishment of mandatory requirements to arrangement and the equipment of storage locations of the pawned and checked items, control of their execution are performed in accordance with the legislation of the Russian Federation.

7. In storage locations of the pawned and checked items storage of the things which are not those is not allowed.

8. The pawnshop shall carry out instructions and requests of the Central bank of the Russian Federation (further - the Bank of Russia) and to provide in the Bank of Russia the reporting and other information according to the Federal Laws and regulations of the Bank of Russia according to the procedure, established by the Bank of Russia, and also to provide possibility of provision in the Bank of Russia of electronic documents and possibility of obtaining from the Bank of Russia of electronic documents according to the procedure, established by the Bank of Russia.

Article 2.1. Requirements to officials of pawnshop

1. Person performing functions of sole executive body of pawnshop cannot be:

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