123.01 Definition of Pawnbroker | 123.09 Inspection of Register and Property |
123.02 License Required | 123.10 Ticket for Property Received |
123.03 Exemptions | 123.11 Holding Period |
123.04 Affidavit Required | 123.12 Police Order to Hold Property |
123.05 Application | 123.13 Prohibited Act |
123.06 Surety Bond | 123.14 Denial, Suspension or Revocation |
123.07 Records Register Required | 123.15 Violations |
123.08 Weapons | 123.16 Maximum Interest Rates |
For use in this chapter, the term “pawnbroker” means any person or business who loans money on the pledge of personal property or other valuable items, and who takes possession of the property on the condition of selling the property back to the seller again at a stipulated price, or any person or business who deals in the purchase of used personal property or other valuable items for later resale, subject to the exceptions stated in Section 123.03.
No person shall carry on or engage in business as a pawnbroker in the City without first having obtained a license therefor from the City and paying an annual license fee of $1,000.00 or a fee subsequently set by resolution of the City Council. Any person having several or separate places of business shall pay the license fee and procure a license for each place. The license provided for herein is valid only for the location designated in the application pursuant to Section 123.05 and shall be prominently displayed therein at all times. Upon any change in any of the information required to be submitted as part of the application, the licensee shall within three (3) days of such change notify the Police Chief of such change, in writing, and in the event of a change of address where doing business, the license shall be returned to the Police Chief and an amended license issued designating the new location. The amended license will be valid for the length of the time remaining on the original license. All licenses issued under this chapter shall expire one year after the original date of issuance. There shall be no automatic renewal. An application for renewal shall be filed and the fee paid not less than forty-five (45) days prior to the expiration of the current license.
This chapter does not apply to or include the following:
1. The sale of secondhand goods at yard sales, garage sales, or moving sales.
2. The sale of secondhand books or magazines.
3. The sale of goods at an auction held by a licensed auctioneer.
4. The business of buying or selling only those secondhand goods taken as part or full payment for new goods and where such business is incident to and not the primary business of a person.
5. A bulk sale of property from a merchant, manufacturer, or wholesaler having an established place of business or of goods sold at open sale from bankrupt stock.
6. Goods sold at the public market, e.g., farmers market, etc.
7. Goods sold at a bona fide antique, used furniture, or used clothing store, i.e., a business in which seventy-five percent (75%) of the business’s revenue is derived through the sale of antiques, used furniture or used clothes.
Before any license required by this chapter is issued, the applicant therefor shall file with the Police Chief an affidavit that the applicant will observe and carry out the requirements of any provisions of this Code of Ordinances in force at the time of the application, or any provision of this Code of Ordinances passed thereafter and during the time the applicant’s license is in force, in relation to pawnbrokers or their business.
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