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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of March 28, 1995 No. 204

About approval of the Regulations on procedure for the organization and functioning of pawnshops

(as amended on 17-04-2018)

The government of the Republic of Moldova DECIDES:

1. Approve Regulations on procedure for the organization and functioning of pawnshops.

2. Declare invalid the Resolution of Council of Ministers of the Moldavian SSR N 341 of December 7, 1976. "About approval of the Temporary charter of city pawnshop".

Prime Minister of the Republic of Moldova

Andrey Sangeli

Regulations on procedure for the organization and functioning of pawnshops

I. General provisions

1. Regulations on procedure for the organization and functioning of activities of pawnshops (further - the Provision) establish procedure and conditions of the activities of pawnshops performed by economic agents, irrespective of type of property, form of business and amount of the rendered services, for the purpose of state regulation of these activities.

2. In the activities pawnshops are guided by the Constitution of the Republic of Moldova, the Civil code, the Law No. 449-XV of July 30, 2001. "About pledge", the Law No. 282-XV of July 22, 2004. "About the mode of precious metals and gemstones", the Law No. 451-XV of July 30, 2001. "About licensing of separate types of activity, other laws and regulations in the field, and also this provision.

3. Pawnshops are the credit institutes giving to the population opportunity of storage of objects of private use and house use, and also receipt of loans on the security of these objects.

5. Pawnshops perform the activities only after receipt of the license for activities granted according to the current legislation.

6. The authorized capital of again opening pawnshop shall constitute at least amount, equivalent 25000 US dollars for the municipal area and 15000 US dollars for the rural zone at the rate of National Bank of Moldova for date of organization of pawnshop.

The authorized capital increases along with increase in number of branches of pawnshop by 40% of the established fixed authorized capital for each branch of pawnshop and is registered according to the procedure, stipulated by the legislation.

The size of the amounts of assessment of the things accepted by pawnshop on storage, and issued on the security of things of loans shall not exceed sizes of the authorized capital.

7. The authorized capital of pawnshop is created of money (cash or via bank transfer) and real estate.

Under organization of pawnshop the share of real estate shall not exceed 25 percent of its authorized capital.

8. Founders of pawnshop shall make completely the contributions to the authorized capital by day of receipt of license for activities.

In case of renewal of the license in connection with expansion of the licensed activities in new branch, the authorized capital should be increased and brought into the corresponding account before filing of application about renewal of the license.

9. The reserve fund of pawnshop shall constitute at least 15 percent from the size of the authorized capital. It is created by the profit remaining after tax payment.

10. The full and abbreviated name of pawnshop shall contain the word "pawnshop". Any legal entity, except the pawnshop having no right to include the word "pawnshop" or words making similar sense in the name.

11. Persons having criminal record for economic crimes, crimes against public and state security and also for bribery cannot be heads and workers of pawnshop.

12. The pawnshop shall be equipped with special storages (safes), systems of the security, disturbing and fire alarm ensuring safety of the values accepted as a deposit. The pawnshop bears full financial responsibility according to the legislation for quantity and quality of the objects accepted on storage or as a deposit.

Weighing of the accepted (released) values is performed by weight measuring means of the corresponding type and class of accuracy, legalized and annually metrological calibrated, according to the procedure, established by national authority on metrology.

13. The pawnshop shall insure accepted on storage and as proof of thing in the property value amount according to assessment made in case of their delivery in pledge or on storage by agreement of the parties.

14. Confiscation or the address of collection on the property pawned and transferred to storage are possible only in the cases and procedure provided by the law.

15. The pawnshop has the right to open places of acceptance and service office on acceptance of things at home in pledge and for storage agrees with additional payment for transport services to the rates operating in pawnshop. For challenge on the house of the representative of pawnshop, registration of acceptance of things on storage or as a deposit the payment in the amount of 10 percent of the minimum wage operating for date of order placement, irrespective of quantity of the handed-over things is in addition levied from the client.

Products from precious metals and stones can be accepted only in pawnshop.

II. Transactions of pawnshop

16. The pawnshop has the right to be engaged in the following types of activity:

store the objects of private use and house use belonging to physical persons on the right of personal property;

allow loans on the security of the specified things.

17. The pawnshop has no right to be engaged in other types of activity, except for specified in Item 16 of this provision.

18. Can be clients of pawnshop both citizens of the Republic of Moldova, and foreign citizens.

19. The pawnshop has no right to accept on storage and as a deposit:

foreign currency;

securities;

the things which are not belonging to physical persons on the right of private property;

real estate;

antiquarian products or other objects of old times;

coins from precious metals;

the precious metals and stones which are raw materials, waste or subject mi technological appointment;

vehicles (except bicycles, mopeds);

the scrap and waste containing the precious metals extracted from the written off equipment.

20. Pawnshops independently determine the prices and rates for the services rendered by them.

21. The pawnshop shall establish rules of work which is coordinated with the Agency of the state services, and body of local public authority in which subordinated territory it is placed, and affirm pawnshop management. They shall be convenient for clients and conform to requirements of the legislation of the Republic of Moldova and this provision.

Conditions of acceptance and return of products from precious metals and gemstones make a reservation separate Item.

 22. In case of acceptance by pawnshop on storage of objects of private use and house use the payment is levied for all agreed storage duration.

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