A. Specified: No articles received on deposit or pledge by any pawnbroker, shall be permitted to be redeemed or removed from the place of business of such pawnbroker for the space of forty eight (48) hours after the delivery of the signed receipt required by section 4-10-11, “Pawnbrokers Issuance Of Signed Receipt”, of this chapter. No articles pawned or pledged shall be sold or disposed of by any pawnbroker within one year from the time the pawner or pledger shall make default in the payment of interest on the money so advanced by the pawnbroker, unless by the written consent of the pawner or pledger.
B. Individually Identifiable Articles (Excluding Precious Metals): No pawnbroker or secondhand dealer shall expose for sale, or sell or barter, or melt, crush/compact, destroy or otherwise dispose of any nonscrap/junk article that is individually identifiable within thirty (30) days or the time of purchasing or receiving the same, nor until the same has been in or upon the premises where the same are offered, exposed, bartered or sold at least thirty (30) days. During this thirty (30) day time period, articles must be kept on site and available for inspection pursuant to section 4-10-19, “Inspection Of Premises By Police”, of this chapter, upon request.
C. Precious Metal Articles: No pawnbroker or secondhand dealer shall expose for sale, or sell or barter, or melt, crush/compact, destroy, or otherwise dispose of any nonscrap/junk article within ten (10) days of the time of purchasing or receiving the same, nor until the same has been in or upon the premises where the same are offered, exposed, bartered or sold at least ten (10) days. During this ten (10) day time period, articles must be kept on site and available for inspection pursuant to section 4-10-19, “Inspection Of Premises By Police”, of this chapter, upon request.
D. Waiting Period Exemptions:
1. Coins, paper money and bullion that have no distinguishing characteristics that separate them from other such items are not subject to a waiting period so long as the transaction has been recorded in compliance with section 4-10-10, “Record Of Transactions”, of this chapter.
2. Junk/scrap articles shall have no waiting period restriction so long as the transaction has been recorded in compliance with section 4-10-10, “Record Of Transactions”, of this chapter.
(1987 Code § 12-28)