# Mich. Comp. Laws § 446.202: Licenses; issuance; contents; term; transferability; fee; bond; limitations > Michigan · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.202 ## Section - **Citation:** Mich. Comp. Laws § 446.202 - **Heading:** Licenses; issuance; contents; term; transferability; fee; bond; limitations - **Jurisdiction:** Michigan - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** MI Code / Chapter 446 / Act Act-273-of-1917 / Section 446.202 ## Text Sec. 2. The chief executive officer of the governmental unit may grant under his or her hand, and the official seal of his or her office, to any suitable person, corporation, or firm a license authorizing that person, corporation, or firm to conduct the business of a pawnbroker subject to the provisions of this act. The license shall designate the particular place in the governmental unit where that person, corporation, or firm shall conduct the business. A person, corporation, or firm receiving a license shall not conduct the business in any other place than the place designated in the license. The term of license is 1 year from date of issuance, unless revoked for cause, and is not transferable. Before issuance of the license, the applicant shall pay to the treasurer of the governmental unit an annual license fee in the amount determined under subsection (5) and give a bond to the governmental unit in its corporate name, in the penal sum of $3,000.00, with at least 2 sureties, conditioned for the faithful performance of the duties and obligations pertaining to the conduct of the business and for the payment of all costs and damages incurred by any violation of this act. The governmental unit shall approve the bond. The governmental unit may fix the amount to be paid as the annual license fee at any amount not less than $50.00 or more than $500.00. Notwithstanding any other provision of this section, the authority of a governmental unit to issue a license under this act is limited as follows: A county may not issue a license for a location within a city or village with a population greater than 3,000. A county may not issue a license for a location within a city or village with a population of 3,000 or less or within a township or charter township if that city, village, township, or charter township has established the license fee pursuant to subsection (5). A township or charter township may not issue a license for a location within a village with a population over 3,000 or a village with a population of 3,000 or less that has established a fee under subsection (5). History: 1917, Act 273, Eff. Aug. 10, 1917; CL 1929, 9685; CL 1948, 446.202; Am. 2002, Act 469, Imd. Eff. June 21, 2002 ## Nearby sections - [Mich. Comp. Laws § 446.201 Pawnbrokers; license required; exception; internet drop-off store exempt from licensure.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.201.md) - [Mich. Comp. Laws § 446.202 Licenses; issuance; contents; term; transferability; fee; bond; limitations.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.202.md) - [Mich. Comp. Laws § 446.203 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.203.md) - [Mich. Comp. Laws § 446.204 Licensed pawnbroker; action upon bond.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.204.md) - [Mich. Comp. Laws § 446.205 Record of property received; contents; inspection; form of permanent record.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.205.md) - [Mich. Comp. Laws § 446.206 Statement to police of articles received; contents.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.206.md) - [Mich. Comp. Laws § 446.208 Purchaser's memorandum of pawn; contents.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.208.md) - [Mich. Comp. Laws § 446.209 Interest on loans; rate; storage charge; time of payment; computation; fee or excess charge prohibited.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.209.md) - [Mich. Comp. Laws § 446.210 Title to item; sale of pledged or pawned item; time of possession.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.210.md) - [Mich. Comp. Laws § 446.211 Payment or tender of debt before sale; effect as to title and right to property; agreement to permit pawner to maintain possession.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.211.md) - [Mich. Comp. Laws § 446.212 Misappropriated property; effect of written hold order; delivery of property to person claiming ownership; return of property to pawnbroker; liability; "appropriate law enforcement official" defined.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.212.md) - [Mich. Comp. Laws § 446.213 Pawned property; destruction or defacing unlawful; visibility of serial number or insignia.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.213.md) - [Mich. Comp. Laws § 446.214 Pawned property; acceptance from certain persons prohibited.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.214.md) - [Mich. Comp. Laws § 446.216 Bond of complainant; amount, surety.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.216.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C446_AAct-273-of-1917_S446.202. Check the current official text before relying on it. Not legal advice.