The Indiana Pawnbroker Surety Bond is required by the Indiana Department of Financial Institutions to become a licensed pawnbroker. Pawnbroker means any person, partnership, association, limited liability company, or corporation that engages in the pawn business.
A license application must identify the location or locations at which the applicant proposes to engage in business as a pawnbroker in Indiana. On cannot be a licensed pawn broker if:
- You are under indictment for a felony under the laws of Indiana or any other jurisdiction; or
- has been convicted of a felony under the laws of Indiana or any other jurisdiction.
The director may request that the applicant provide evidence of compliance with this section at:
(1) the time of the initial application;
(2) the time of renewal of a license; or
(3) any other time considered necessary by the director.
The bond is required to be in the amount of $50,000 per location with a maximum bond amount of $200,000.
How to become a licensed Pawnbroker in Indiana
Complete the application packet provided by the Indiana the Department of Financial Institutions. The department will conduct a criminal background check of the applicant(s). You must also present two years experience in a finance-related field if you will manage the shop. You cannot open the doors for business until approval of your application by the Department of Financial Institutions in Indianapolis and you have provided the required Indiana Pawnbroker Surety Bond. It will take a minimum of 30 days to process the application packet; however, it may take longer depending on when you actually schedule your interview with the Department of Financial Institutions.
How do I get the Indiana Pawnbroker Surety Bond?
At surety1.com we make it easy to obtain your Indiana Pawnbroker Surety Bond and any other type of surety bond you may require. Simply complete our easy to use, online application and within 1 business day one of our surety bond professionals will provide you with a free, no obligation quote. Then you will sign some paperwork, make payment and your bond will be delivered to you for signature. Overnight shipping is also available.
Surety1.com is a service of AssuredPartners , one of the largest and fastest growing insurance agencies in the nation. Surety1.com is the premier online provider of surety bonds nationwide, since 2003.