(A) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BILLABLE TRANSACTION. Every reportable transaction except renewals, redemptions or extensions of existing pawns on items previously reported and continuously in the licensee’s possession.
REPORTABLE TRANSACTIONS. The receipt of any item of property, whether sold or pawned, except:
(a) 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; and
(b) Retail and wholesale sale of merchandise originally received by pawn or purchase, and for which all applicable hold and redemption periods have expired.
(B) Required information. At the time of any reportable transaction, other than renewals, redemptions or extensions, every licensee must immediately record in English, the following information in a computerized record approved by the Police Department or designee:
(1) A complete and accurate description of each item including, but not limited to: any trademark, identification number, serial number, model number, brand name or other identifying mark on such an item;
(2) The purchase price, amount of money loaned upon or pledged therefor;
(3) The maturity date of the transaction;
(4) The amount due, including monthly and annual interest rates and all pawn fees and charges;
(5) Date, time and place the item was received by the licensee, and the unique alpha and/or numeric transaction identifier that distinguishes it from all other transactions in the licensee’s records;
(6) Full name, residence address, residence telephone number, date of birth and an accurate description of the person from whom the item of the property was received, including: sex, height, race, color of eyes and hair;
(7) The identification number and state of issue from any of the following forms of identification of the seller or pledgor:
(a) A current, valid Minnesota driver’s license;
(b) A current, valid Minnesota identification card; and/or
(c) A current, valid identification card issued by another U.S. state.
(8) The signature of the person identified in the transaction; and
(9) Any other information reasonably required by the Police Department.
(C) Transaction fee definition. Every licensee shall pay a billable transaction fee for each billable transaction handled by the licensee. The amount of the fee shall be set by resolution of the Council in an amount that reflects the cost of processing billable transactions. Billable transaction license fees shall be billed monthly and are due and payable within 30 days.
(D) Modem reporting.
(1) Licensees must submit every reportable transaction to the Police Department daily by transferring it from their computer to the Police Department via modem. All required records must be transmitted completely and accurately after the close of business each day in accordance with the standards and procedures established by the Police Department using procedures that address security concerns and technological requirements of the licensees and the Police Department.
(2) If a licensee is unable to successfully transfer the required reports by modem, the licensee must have on the premises and available for inspection by the Police Department, printed copies of all reportable transactions that have not been reported by modem.
(Prior Code, § 6.13) (Am. Ord. 48, Second Series, passed 7-1-2002)