For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BILLABLE TRANSACTION. Every reportable transaction conducted by a pawnbroker is a billable transaction except renewals, redemptions or extensions of existing pawns on items previously reported and continuously in the licensee’s possession, voided transactions and confiscations.
LICENSE FEES. The annual license fees for licenses under this chapter shall be as follows.
(1) The billable transaction license fee shall reflect the cost of processing transactions and other related regulatory expenses as determined by the City Council and shall be reviewed and adjusted, if necessary, annually. Licensees shall be notified in writing 30 days before any adjustment is implemented.
(2) Billable transaction fees shall be billed monthly and are due and payable within 30 days. Failure to do so is a violation of this chapter.
MINOR. Any natural person under the age of 18 years.
OVERSIZED ITEMS. Large items such as cars, boats and other motorized vehicles and motorized equipment.
PAWNBROKER. Any natural person, partnership or corporation, whether as principal or agent or employee thereof, who loans money on deposit or pledge of personal property or other valuable thing; 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. To the extent that a PAWNBROKER business includes buying personal property previously used, rented or leased, the provisions of this chapter shall be applicable. Any bank, savings and loan association or credit union shall not be deemed a PAWNBROKER for purposes of this chapter.
PERSON. One or more natural persons; a partnership, including a limited partnership; a corporation, including a foreign, domestic or non-profit corporation; a trust; a political subdivision of the state; or any other business organization.
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, or for which a unique transaction number or identifier is generated by their point-of-sale software, or an item is confiscated by law enforcement is reportable, except:
(1) The bulk purchase or consignment of new or used merchandise from a merchant, manufacturer or wholesaler having an established permanent place of business and the retail sale of said 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 which relates it to that transaction record; or
(2) Retail and wholesale sales of merchandise originally received by pawn or purchase and for which applicable hold and/or redemption periods have expired.
SECONDHAND ITEM. Tangible personal property, excluding motor vehicles, which has been previously used, rented, owned or leased.
(2004 Code, § 120.02) (Ord. 95-162, passed 2-27-1996; Ord. 06-0442, passed 8-8-2006)