CHAPTER 112: PAWNBROKERS

Section

   112.01   Definition

   112.02   Bond

   112.03   Register to be kept; daily reports

   112.04   Receipt to be given for each article; sale of article

   112.05   Maximum interest, resale price

   112.06   Receipt to be given for payment of loan

   112.07   Prohibited activities

   112.08   Enforcement

   112.99   Penalty

§ 112.01 DEFINITION.

   For the purpose of this chapter, the following definition shall apply unless the context clearly indicates or requires a different meaning.

   PAWNBROKER. Any person who loans money on deposit of personal property; deals in the purchase of personal property on condition of selling the property back again at a stipulated price; makes a public display at his or her place of business of the sign generally used by PAWNBROKERS to denote their business; or who publicly exhibits a sign advertising money to loan on personal property or deposit.

(KRS 226.010)

§ 112.02 BOND.

   (A)   Every person to whom a city license is granted to carry on the business of a pawnbroker shall annually enter into bond to the city, with good and sufficient surety to be approved by the City Council, in the penal sum of $1,000.

   (B)   This bond shall be conditioned that he or she will observe the provisions of this chapter and all ordinances and laws in force in the city not inconsistent with this chapter.

(KRS 226.020)