For each loan made by a licensee under this chapter, the licensee shall furnish to the pledger a printed receipt clearly showing the amount loaned with a specific, detailed description of the pledged property pawned or received, date of receipt thereof, time for redemption, and the name of the pledgee. The reverse side of said receipt shall be marked in such a manner that the amounts of principal and interest and any other charges paid by the person securing the loan can be clearly designated thereon. Each payment shall be entered upon the reverse side of said receipt and shall designate how much of the payment is being credited to principal, how much to interest, and how much to any other charges, with the date of said payments shown thereon. The licensee shall affix to each article or thing a tag upon which shall be inscribed a number of legible characters which shall correspond to the number on the ticket and be entered in the book required to be kept by the provisions of this chapter. The licensee shall furnish all information required to be given to borrowers by state and federal law. The following information shall appear in bold print on the front of each ticket required to be given to the pledger:
WARNING
If you have borrowed money from a licensee under Chubbuck Municipal Code Chapter 5.05
, and if you fail to make any payment when it is due, the licensee, thirty days later, may keep or sell any property you have deposited, and you will lose your rights to the property.
(Ord. 681 §1, 2009)