(A) A pawnbroker or secondhand dealer shall hold each item purchased or received in the course of business for ten calendar days after electronically submitting a copy of the record of the transaction to the appropriate law enforcement agency.
(B) A pawnbroker or secondhand dealer may submit to the appropriate law enforcement agency a written request for a shorter holding period for a specific item:
(1) Within 96 hours after receiving the request, the appropriate law enforcement agency shall approve or deny the request.
(2) If the appropriate law enforcement agency does not respond to the request within 120 hours, the request is deemed to be approved.
(C) During the holding period for an item, the pawnbroker or secondhand dealer:
(1) Shall tag the item in accordance with appropriate law enforcement agency requirements;
(2) Shall store the item in a secure location on the premises that is separate from other items;
(3) Shall not remove the item from the pawnbroker or secondhand dealer’s licensed location of business; and
(4) Shall not offer for sale until the ten-day holding period has expired.
(D) The holding period required by this section does not apply to a pawned item that is redeemed with the original pawn ticket.
(2004 Code, § 159-6) (Ord. 07-16, passed 9-20-2007)