Skip to code content (skip section selection)
(a) Within 30 days of the effective date of this ordinance, all pawnbrokers and precious metal dealers located within the city shall be required to secure a Pawnbroker/Precious Metal Dealer's License by making application to the Code Enforcement Director. Such application shall be on standard forms furnished by the Director and shall contain all information determined by the City Commission to be necessary for an evaluation of the applicant's eligibility to be licensed hereunder. As a part of the application process, the applicant must produce proof that, if approved for licensure, he can secure an approved indemnity bond in the amount of twenty-thousand dollars ($20,000), issued by a surety company authorized to transact business within the Commonwealth of Kentucky, or can post a cash bond in that amount. No license shall be issued to or held by any person who has been convicted of a felony offense related to larceny, theft or the receiving of stolen property, nor shall a license be issued to a corporation or partnership whose chief officers or members are persons who have been convicted of a felony offense related to larceny, theft or the receiving of stolen property.
(b) The bond provided for shall be for a term of one (1) year and shall inure to the benefit of the city or of any person who shall be injured or sustain damage proximately caused by the failure of the license holder or any of its servants, agents (both apparent and actual) or employees to comply with the terms of this ordinance and KRS 226, including KRS 226.020 which provides that the bond shall be conditioned that the pawnbroker will observe the provisions of KRS 226.030 to 226.050 and the ordinances and laws in force in the city not inconsistent with KRS Chapter 226 et seq.
(c) The city shall, within thirty (30) days of receipt of a completed application form, make a complete review of the accuracy of the information contained therein, including a criminal records check on any individuals named herein and a determination as to the adequacy of the proposed bond. If the application is to be denied, the Code Enforcement Director shall provide the applicant with written notification, including a statement of the reason(s) for denial. An aggrieved applicant shall, within thirty (30) days of such action, have a right to request a hearing before the City Commission of the city to contest the denial.
(d) Licenses issued under this section shall be for the conduct of business at a specific location within the city and shall not be valid for the conduct of the regulated business in any other location and shall be effective for a period of one (1) year. Licenses issued under this section shall not be transferable. License holders shall be required to post their license or a copy thereof in a conspicuous place in the place of business.
(e) A fee of one-hundred dollars ($100) shall be paid by the applicant for the initial application made for a pawnbroker/precious metal dealer's license, and a fee of fifty dollars ($50) shall be paid for each annual renewal application.
(Ord. No. 1889, § 2, 1-23-17)