(A) (1) Any person within the City who loans money on deposit of personal property, or deals in the purchase or possession of personal property on condition of selling the same back again to the pledger or depositor, or loans money on deposit of pledge or personal property, bonds, notes, or other valuable things or securities, or who loans or advances money on personal property by taking chattel mortgage security thereon and takes or receives such personal property into his possession, is hereby declared to be a pawn broker.
(2) No person shall exercise or carry on the business of a pawn broker within the City without first having obtained a license therefor. The fee for each license shall be two hundred dollars ($200.00) per annum and each applicant shall, prior to receiving such license, deposit a bond in the amount of one thousand dollars ($1,000.00) with the City Clerk.
(B) Every pawn broker shall keep a written record in which shall be entered in ink at the time of each loan or taking of pledge, an accurate account and description of all goods or other things pawned or pledged, the amount of money or valuables owned thereon, the time of such pledge, the rate of interest to be paid on such loan, and the name and residence of the person making such pawn or pledge. No person shall change, erase, or destroy any original entry in such written record. Each pawn broker shall at the time of each loan, deliver to the person pawning or pledging any article or thing, a memorandum signed by the pawn broker and containing the substance of the entry required to be made in such written record, kept by such pawn broker. No charge shall be made by any pawn broker for the giving of such memorandum or making of such written record. The written record required hereby shall be open to the inspection of any police officer or law enforcement official at all reasonable times.
(C) No pawn broker shall purchase any second-hand goods, articles, or things offered to him as a pawn or pledge.
(D) Each pawn broker required to be licensed hereunder shall deliver to the Police Department of the City before 12:00 noon each day a true copy of the written record required herein to be kept, showing all personal property and other things received by or pawned to him during the preceding day. No pawn broker licensed hereunder shall receive in pawn or pledge any article from any minor, intoxicated person, or person under any legal disability.
(Prior Code, Art. 11, § 11.9)