Section 19.60.060 - Rates of interest and other fees-Sale of pledged propertyAll pawnbrokers are authorized to charge and receive interest and other fees at the following rates for money on the security of personal property actually received in pledge:
(1) The interest for the loan period shall not exceed: (a) For an amount loaned up to $9.99 - interest at $1.00 for each thirty-day period to include the loan date.(b) For an amount loaned from $10.00 to $19.99 - interest at the rate of $1.25 for each thirty-day period to include the loan date.(c) For an amount loaned from $20.00 to $24.99 - interest at the rate of $1.50 for each thirty-day period to include the loan date.(d) For an amount loaned from $25.00 to $34.99 - interest at the rate of $1.75 for each thirty-day period to include the loan date.(e) For an amount loaned from $35.00 to $39.99 - interest at the rate of $2.00 for each thirty-day period to include the loan date.(f) For an amount loaned from $40.00 to $49.99 - interest at the rate of $2.25 for each thirty-day period to include the loan date.(g) For the amount loaned from $50.00 to $59.99 - interest at the rate of $2.50 for each thirty-day period to include the loan date.(h) For the amount loaned from $60.00 to $69.99 - interest at the rate of $2.75 for each thirty-day period to include the loan date.(i) For the amount loaned from $70.00 to $79.99 - interest at the rate of $3.00 for each thirty-day period to include the loan date.(j) For the amount loaned from $80.00 to $89.99 - interest at the rate of $3.25 for each thirty-day period to include the loan date.(k) For the amount loaned from $90.00 to $99.99 - interest at the rate of $3.50 for each thirty-day period to include the loan date.(l) For loan amounts of $100.00 or more - interest at the rate of four percent for each thirty-day period to include the loan date.(2) The fee for the preparation of loan documents, pledges, or reports required under the laws of the United States of America, the state of Washington, or the counties, cities, towns, or other political subdivisions thereof, shall not exceed: (a) For the amount loaned up to $4.99 - the sum of $1.50.(b) For the amount loaned from $5.00 to $9.99 - the sum of $3.00.(c) For the amount loaned from $10.00 to $14.99 - the sum of $4.00.(d) For the amount loaned from $15.00 to $19.99 - the sum of $4.50.(e) For the amount loaned from $20.00 to $24.99 - the sum of $5.00.(f) For the amount loaned from $25.00 to $29.99 - the sum of $5.50.(g) For the amount loaned from $30.00 to $34.99 - the sum of $6.00.(h) For the amount loaned from $35.00 to $39.99 - the sum of $6.50.(i) For the amount loaned from $40.00 to $44.99 - the sum of $7.00.(j) For the amount loaned from $45.00 to $49.99 - the sum of $7.50.(k) For the amount loaned from $50.00 to $99.99 - fifteen percent of the loan amount.(l) For the amount loaned from $100.00 to $249.99 - thirteen percent of the loan amount.(m) For the amount loaned from $250.00 to $499.99 - ten percent of the loan amount.(n) For the amount loaned from $500.00 to $999.99 - eight percent of the loan amount.(o) For the amount loaned from $1000.00 to $1499.99 - seven and one-half percent of the loan amount.(p) For the amount loaned from $1500.00 to $1999.99 - seven percent of the loan amount.(q) For the amount loaned of $2000.00 or more - six percent of the loan amount.(3) For each thirty-day period, a pawnbroker may charge: (a) A storage fee of $5.00; and(b) An additional fee of $5.00 for storing a firearm.(4) Fees under subsection (2) of this section may be charged one time only for each loan period; no additional fees, other than interest allowed under subsection (1) of this section and storage fees allowed under subsection (3) of this section, shall be charged for making the loan. A copy of this section, set in twelve point type or larger, shall be posted prominently in each premises subject to this chapter.
Amended by 2015 c 294,§ 1, eff. 7/24/2015.2007 c 125 § 1; 1995 c 133 § 2; 1991 c 323 § 7; 1984 c 10 § 9; 1973 1st ex.s. c 91 § 1; 1909 c 249 § 234; RRS § 2486.Interest-Usury: Chapter 19.52 RCW.