For the purposes of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AUTOMATED PROPERTY SYSTEM. A computerized data collection system which mandates the collection of data and digitized images via modem for the purpose of regulation and review of licensed pawn dealers by city license inspectors, law enforcement officials, and authorized subscribers.
BILLABLE TRANSACTION. Every reportable transaction conducted by a pawnbroker except renewals, redemptions or extensions of existing pawns on items previously reported and continuously in the licensee’s possession is a billable transaction.
PAWNBROKER. Any natural person, partnership or corporation, either as a principal, or agent or employee thereof, who loans money on deposit or pledge of personal property, or other valuable thing, or who deals in the purchasing of personal property or other valuable thing on condition of selling the same back again at a stipulated price, or who loans money secured by chattel mortgage on personal property, taking possession of the property or any part thereof so mortgaged.
REPORTABLE TRANSACTION. Every transaction conducted by a pawnbroker in which merchandise is received through a pawn, purchase, consignment or trade, or in which a pawn is renewed, extended or redeemed, is reportable except:
(1) The bulk purchase or consignment of new or used merchandise from a merchant, manufacturer or wholesaler having an established place of business, and the retail sale of such merchandise, provided the pawnbroker must maintain a record of such purchase or consignment which describes each item, and must mark each item in a manner that relates it to that transaction record.
(2) Retail and wholesale sales of merchandise originally received by pawn or purchase, and for which all applicable hold and/or redemption periods have expired.
(Ord. 181, passed 3-20-2017)