View frequently asked questions from businesses about the Florida Pawnbroking Act.
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The Florida Pawnbroking Act requires pawnshops to obtain an annual license with the Florida Department of Agriculture and Consumer Services (FDACS). Each pawnshop must maintain a net worth of at least $50,000 or file security in the form of a bond, letter of credit, or certificate of deposit in the amount of $10,000 with FDACS.
FDACS is authorized to collect licensing fees and impose penalties for noncompliance with the law.
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