Pursuant to G.S. § 66-399, any pawnbroker licensed under this chapter shall, at the time of receiving the license, file with the town a bond payable to the town in the sum of $5,000, to be executed by the licensee and by two responsible sureties or a surety company licensed to do business in the State of North Carolina and acceptable in the sole discretion of the town, which shall be for the faithful performance of the requirements and obligations pertaining to the business so licensed. The town 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 that person's own name upon the bond, to satisfy the judgment.
(Ord. passed 12-1-14)