A. Hours And Days Of Operation: No pawnbroker or precious metal dealer shall keep the pawnbroker or precious metal dealer business open for the transaction of business on any day of the week before seven o'clock (7:00) A.M. or after ten o'clock (10:00) P.M. No pawnbroker or precious metal dealer shall be open for the transaction of business on Sundays.
B. Minors: No person under the age of eighteen (18) years may pawn or sell or attempt to pawn or sell goods with any licensee, nor may any licensee receive any goods from a person under the age of eighteen (18) years.
C. Incompetent Persons: A pawnbroker or precious metal dealer shall not purchase or receive personal property on deposit or pledge from any incompetent person or intoxicated person.
D. Prohibited Goods: No licensee under this chapter shall accept any item of property which contains an altered or obliterated serial number or "operation identification" number or any item of property whose serial number has been removed.
E. Security Interest: No licensee nor any agent or employee of a licensee shall purchase, accept, or receive any article of property knowing, or having reason to know, that the article of property is encumbered by a security interest. For the purpose of this section, "security interest" means an interest in property which secures payment or other performance of an obligation.
F. True Owner:
1. No licensee nor any agent or employee of a licensee shall purchase, accept, or receive any article of property, from any person, knowing, or having reason to know, that said person is not the true and correct owner of the property.
2. No person may pawn, pledge, sell, leave, or deposit any article of property not their own; nor shall any person pawn, pledge, sell, leave, or deposit the property of another, whether with permission or without; nor shall any person pawn, pledge, sell, leave, or deposit any article of property in which another has a security interest; with any licensee.
G. Proper Identification:
1. No licensee nor any agent or employee of a licensee shall purchase, accept, or receive any article of property, from any person, unless the seller presents identification in the form of a valid driver's license, a valid state of Minnesota identification card, or current valid photo driver's license or identification card issued by the state or province of residency of the person from whom the item was received.
2. No person may pawn, pledge, sell, leave or deposit any article of property with any licensee without first having presented an acceptable form of identification.
H. Payment By Check: Payment of more than two hundred fifty dollars ($250.00) by a licensee for any article deposited, left, purchased, pledged or pawned shall be made only by a check, draft, or other negotiable or nonnegotiable instrument which is drawn against funds held by a financial institution. This policy must be posted in a conspicuous place in the premises.
I. Restrictions On Sale: Pawnbrokers and precious metal dealers shall suspend for one year, any business transaction with any person who has sold and/or forfeited on six (6) previous occasions articles for which the person received twenty five dollars ($25.00) or more per transaction within a single six (6) month period.
J. False Identification: No person seeking to pawn, pledge, sell, consign, leave, or deposit any article of property with any licensee shall give a false or fictitious name; nor give a false date of birth; nor give a false or out of date address of residence or telephone number; nor present a false or altered identification, or the identification of another; to any licensee.
K. General Restrictions For Pawnbrokers: No pawnbroker licensed under this chapter shall:
1. Lend money on a pledge at a rate of interest above that allowed by law;
2. Knowingly possess stolen goods;
3. Sell pledged goods before the time to redeem has expired;
4. Refuse to disclose to the city, after having sold pledged goods, the name of the purchaser or the price for which the item sold.
L. General Restrictions For Precious Metal Dealers: No precious metal dealer licensed under this chapter shall knowingly possess stolen goods. (Ord. 716, sec. 1, 7-1-2002)