(a) A pawnbroker shall retain any and all goods or articles pledged with him or purchased by him until the expiration of seventy-two hours after the pledge or purchase was made. The licensee may dispose of such goods or articles or things sooner with the written permission of the Police Department.
(b) If the Police Chief, to whom the licensee made available the information, has probable cause to believe that the article described therein is stolen property, he shall notify the licensee in writing. Upon receipt of such a notice, the licensee shall retain the article until the expiration of thirty days after the day on which he is first required to make available the information, unless the Chief notifies the licensee in writing that he is not required to retain the article until such expiration.
(c) If the Police Chief determines the identity of the true owner of the allegedly stolen goods that have been purchased or pawned and are held by a licensee, and informs the licensee of the true owner's identity:
(1) The licensee may restore the allegedly stolen goods to their true owner directly.
(2) The true owner may reimburse the licensee for the amount the licensee paid for the allegedly stolen goods.
(3) The true owner may recover the goods from the licensee in an action at law.
(d) If the local authorities determine that the true owner of the allegedly stolen goods, for whatever reason, chooses not to file a charge against the person or persons allegedly responsible for the theft, the licensee may charge the true owner of the allegedly stolen goods only the amount the licensee paid or loaned for the allegedly stolen goods.
(Ord. 36, 1989. Passed 6-6-89.)