(A) No person, firm, association, partnership or corporation shall conduct or operate a consumer installment loan business without having first obtained a license therefore as is provided in this chapter, or in violation of any of the provisions contained in this chapter. Any consumer installment loan license may be revoked by the Mayor for any violation of any provision of this chapter. The license fee shall be $500 per year.
(1960 Code, § 7-24-2)
(B) Applications for a consumer installment loan business shall be made to the City Clerk and shall state therein the name of the applicant, the place of business and the number of employees intended to be engaged. The applications shall also state the state license number and shall be accompanied by good and sufficient proof of compliance with all state licensing laws pertaining to any such consumer installment loan business, as defined in § 120.02 of this chapter.
(1960 Code, § 7-24-5)
(C) The city, as a home rule unit, hereby finds and declares that at no time shall the currently licensed number of consumer installment loan businesses in the city exceed three, and that no license shall issue unless renewed by the current holder of a license (after compliance with this chapter) or by a new applicant (after compliance with this chapter) where a current license holder relinquishes the license in writing, presented to the City Clerk or fails to renew said license in a timely manner. This limit of the number of licenses shall not apply to consumer installment loan business operating at the time this chapter takes effect.
(1960 Code, § 7-24-7)
(Ord. 7035, passed 9-17-2007; Ord. 7147, passed 7-8-2008) Penalty, see § 120.99