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
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.
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(personal estate) belonging to the borrower or the bailor and intended for private consumption, except for the things withdrawn from circulation, and also things on which turnover the legislation of the Russian Federation sets the corresponding restrictions.
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