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(A) No pawnbroker shall demand or receive an effective rate of interest greater than 2% per month, and no other charge of any description or for any purpose shall be made by the pawnbroker, except that the pawnbroker may charge, contract for, and recover an additional monthly fee for the following services, including but not limited to:
(1) Title investigation;
(2) Handling, appraisal, and storage;
(3) Insuring a security;
(4) Application fee;
(5) Making daily reports to local law enforcement officers; and
(6) For other expenses, including losses of every nature, and all other services.
In no event may the total of the above listed monthly fees on a pawn transaction exceed 20% of the principal up to a maximum of the following:
First month | $100 |
Second month | $75 |
Third month | $75 |
Fourth month and thereafter | $60 |
In addition, pawnbrokers may charge fees for returned checks-as allowed by G.S. § 25-3-506.
(G.S. § 66-393) (Am. Ord. passed 4-20-99) Penalty, see § 7-220
In every pawn transaction:
(A) The original pawn contract shall have a maturity date of not less than 30 days, provided that nothing herein shall prevent the pledgor from redeeming the property before the maturity date;
(B) Any personal property pledged to a pawnbroker in this state is subject to sale or disposal when there has been no payment made on the account for a period of 60 days past maturity date of the original contract; provided that the contract between the pledgor and the pawnbroker is renewable if renewal is agreed upon by both the parties;
(C) Every pawn ticket or receipt for such pawn shall have printed thereon the provisions of division (A) of this section which shall constitute notice of such sale or disposal; notice of intention to sell or dispose of the property without further notice; and consent to such sale or disposal. The pledgor thereby forfeits all right, title and interest of, in, and to such pawned property to the pawnbroker who thereby acquires absolute title to the same, whereupon the debt is satisfied and the pawnbroker may sell or dispose of the unredeemed pledges as his own property. Any sale or disposal of property under this section terminates all liability of the pawnbroker and vests in the purchaser the right, title, and interest of the borrower and the pawnbroker;
(D) If the borrower loses his pawn ticket he shall not thereby forfeit his right to redeem, but may, before the lapse of the redemption period, make an affidavit with indemnification for such loss. The affidavit shall describe the property pawned and shall take the place of the lost pawn ticket unless the pawned property has already been redeemed with the original pawn ticket; and
(E) A pledgor is not obligated to redeem pledged goods or make any payment on a pawn transaction.
(G.S. § 66-394) (Am. Ord. passed 4-20-99)
A pawnbroker shall not:
(A) Accept a pledge from a person under the age of 18 years;
(B) Make any agreement requiring the personal liability of a pledgor in connection with a pawn transaction;
(C) Accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under this article;
(D) Fail to exercise reasonable care to protect pledged goods from loss or damage;
(E) Fail to return pledged goods to a pledgor upon payment of the full amount due the pawnbroker on the pawn transaction. In the event such pledged goods are lost or damaged while in the possession of the pawnbroker, it shall be the responsibility of the pawnbroker to replace the lost or damaged goods with merchandise of like kind and equivalent value. In the event the pledgor and pawnbroker cannot agree as to replacement, the pawnbroker shall reimburse the pledgor in the amount of the value agreed upon pursuant to § 7-216(B);
(F) Take any article in pawn, pledge, or as security from any person, which is known to such pawnbroker to be stolen, unless there is a written agreement with local or state police;
(G) Sell, exchange, barter, or remove from the pawnshop any goods pledged, pawned, or purchased earlier than 48 hours after the transaction, except in case of redemption by pledgor or items purchased for resale from wholesalers;
(H) Operate more than one pawnshop under one license, and such shop must be at a permanent place of business; or
(I) Take as pledged goods any manufactured mobile home, recreational vehicle, or motor vehicle other than a motorcycle.
(G.S. § 66-395) (Am. Ord. passed 4-20-99) Penalty, see § 7-220
(A) Every person, firm, or corporation, their guests or employees, who shall knowingly violate any of the provisions of this article, shall, on conviction thereof, be deemed guilty of a Class 2 misdemeanor. If the violation is by an owner or major stockholder or managing partner of the pawnshop and the violation is knowingly committed by the owner, major stockholder, or managing partner of the pawnshop, then the license of the pawnshop may be suspended at the discretion of the court.
(B) The provision of division (A) of this section shall not apply to violations of § 7-219(F) which shall be prosecuted under the state criminal statutes.
(C) Any contract of pawn the making or collecting of which violates any provision of this article, except as a result of accidental or bona fide error of computation, shall be void, and the licensee shall have no right to collect, receive or retain any interest or fee whatsoever with respect to such pawn.
(G.S. § 66-396) (Am. Ord. passed 4-20-99)
Notwithstanding any provision of this article to the contrary, any person, firm, or corporation licensed as a pawnbroker on or before October 1, 1989, shall continue in force until the natural expiration thereof and all other provisions of this article shall apply to such license. Such pawnbroker shall be eligible for renewal of his license upon its expiration or subsequent renewals, provided such license complies with the requirements for renewal that were in effect immediately prior to October 1, 1989.
(G.S. § 66-398) (Am. Ord. passed 4-20-99)
Every person, firm, or corporation licensed under this article shall, at the time of receiving the license, file with the city or county issuing the license a bond payable to such city in the sum of $5,000, to be executed by the licensee, and by two responsible sureties or a surety company licensed to do such business in this state, to be approved by the city, which shall be for the faithful performance of the requirements and obligations pertaining to the business so licensed. The city may sue for forfeiture of the bond upon a breach thereof. Any person who obtains a judgment against a pawnbroker and upon which judgment execution is returned unsatisfied may maintain an action in his or her own name upon the bond, to satisfy the judgment.
(G.S. § 66-399) (Am. Ord. passed 4-20-99)
Section
Division 1: Purposes and Definitions
7-245 Purposes
7-246 Definitions
Division 2: Licenses Required
7-247 Itinerant merchant’s license required
7-248 Peddler’s license required
7-249 Charitable solicitor’s license required
Division 3: Application for Licenses, Issuance, Denials and Appeals
7-250 Application for a license
7-251 Issuance of a license
7-252 Appeal from denial
Division 4: Exhibit, Transferability and Duration of Licenses
7-253 Possession and exhibition
7-254 License cannot be transferred
7-255 Duration and renewals
Division 5: Revocation, Appeals, and Enforcement
7-256 Revocation; appeal
7-257 Enforcement
7-258 Conflicts
DIVISION 1: PURPOSES AND DEFINITIONS
(A) The purposes of this article are to promote public health, safety and welfare by regulating and licensing certain house to house canvassing thereby protecting the privacy and safety of the residents of the city.
(B) The City Council does hereby find that the house to house canvassing has caused residents of the city reasonable concerns about their privacy and safety in their personal residences.
(Ord. passed 11-19-96; Am. Ord. passed 9-19-06)
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