A. Business License Registration Fee Required: No pawnbroker whose business is to trade or receive by way of pledge or pawn any kind of personal property as security for the repayment of money loaned or advanced shall engage in business within the city without having submitted a pawnbroker permit application to include the names, social security numbers or individual taxpayer identification number, address and dates of birth of each agent, servant and employee of the applicant engaged in the business of pawn transactions. Changes in such list shall be indicated on each renewal application as required by NMSA 56-12-7. No pawnbroker shall engage in business within the city without having submitted the required business license registration fee which will also serve as a pawnbroker permit under section 3-1-2 of this title, and having obtained the bond required below.
B. Bond: Such pawnbroker shall execute and deliver to the city clerk a bond in the sum of five thousand dollars ($5,000.00), set by NMSA 56-12-6 with corporate surety authorized by the laws of the state to write surety bonds therein, and conditioned for the conduct of such pawnbroker's business according to law and for the due and faithful observance of each and every provision of this chapter. Such bond shall be for the benefit of the city and of each and every person damaged by a breach of any condition thereof. (Ord. 365, 11-4-1963; amd. Ord. 1217, 12-28-2011; Ord. 1317, 2-21-2023)