DIVISION 3: MASSAGIST’S LICENSE

§§ 7-186 - 7-194 REPEALED.

Editor’s note:

   §§ 7-181 - 7-194 were repealed by Ord. passed 11-18-08

ARTICLE VI: PAWNBROKERS

Section

   7-210   Short title

   7-211   Purpose

   7-212   Definitions

   7-213   Pawnbroker authority

   7-214   License required

   7-215   Requirements for licensure

   7-216   Record keeping requirements

   7-217   Pawnbroker fees; interest rates

   7-218   Pawnbroker transactions

   7-219   Prohibitions

   7-220   Penalties

   7-221   License renewal

   7-222   Bond

§ 7-210 SHORT TITLE.

   This article shall be known and may be cited as the “Pawnbrokers Modernization Act of 1989.”

(G.S. § 66-385)

§ 7-211 PURPOSE.

   The purpose of this article is to promote the purposes of G.S. §§ 66-385 et seq. and ensure compliance therewith by the exercise of the City of Eden’s police authority.

(G.S. § 66-386) (Am. Ord. passed 4-20-99)

§ 7-212 DEFINITIONS.

   For the purpose of this article, the following definitions shall apply unless the context clearly indicates or requires a different meaning.

   PAWN or PAWN TRANSACTION. A written bailment of personal property as security for a debt, redeemable on certain terms within 180 days, unless renewed, and with an implied power of sale on default.

   PAWNBROKER. Any person engaged in the business of lending money on the security of pledged goods and who may also purchase merchandise for resale from dealers and traders.

   PAWNSHOP. The location at which, or premises in which, a pawnbroker regularly conducts business.

   PERSON. Any individual, corporation, joint venture, association, or any other legal entity, however organized.

   PLEDGED GOODS. Tangible personal property which is deposited with, or otherwise actually delivered into, the possession of a pawnbroker in the course of his or her business in connection with a pawn transaction.

   PURCHASE. Any item purchased from an individual for the purpose of resale whereby the seller no longer has a vested interest in the item.

(G.S. § 66-387) (Am. Ord. passed 4-20-99)

§ 7-213 PAWNBROKER AUTHORITY.

   A pawnbroker licensee is authorized to make loans on pledges of tangible personal property; deal in bullion stocks; purchase merchandise for resale from dealers, traders, and wholesale suppliers; and use its capital and funds in any lawful manner within the general scope and purpose of its creation. Notwithstanding the provisions of this section, no pawnbroker has the authority enumerated in this section unless he or she has fully complied with the laws regulating the particular transactions involved.

(G.S. § 66-388) (Am. Ord. passed 4-20-99) Penalty, see § 7-220