For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACCEPTABLE IDENTIFICATION. Acceptable forms of identification are a current valid state driver’s license, a current valid state identification card, a current valid photo driver’s license or identification card issued by another state or province of Canada, or current passport.
BILLABLE TRANSACTIONS. Every reportable transaction conducted by a pawnbroker, except renewals, redemptions, extensions, or confiscations of items previously reported and continuously in the licensee’s possession is a billable transaction. Any fee for billable transactions shall reflect the cost of processing transactions and other related regulatory expenses as determined by the City Council pursuant to § 113.43.
CITY. The City of St. Anthony, Minnesota.
CONSIGNMENT. A written agreement between a licensee and a seller that enables the licensee to take temporary possession of secondhand property, owned by the seller, for the purpose of offering it for sale to the public. An agreement shall state the terms under which the seller will be compensated, and the amount of that compensation.
LICENSEE. The person, corporation, partnership, or association to whom a license is issued under this subchapter, including any agents or employees of the person, corporation, partnership, or association.
MINOR. Any natural person under the age of 18 years.
PAWNBROKER. Any natural person, partnership, or corporation, either as principal, or agent or employee thereof, who loans money on deposit or pledge of personal property, or other valuable thing, or who deals in the purchasing of personal property, or other valuable thing, on condition of selling the same back again at a stipulated price, or who loans money secured by chattel mortgage on personal property, taking possession of the property or any part thereof so mortgaged. To the extent that a pawnbroker’s business includes buying personal property previously used, rented, or leased, or selling it on consignment, the provisions of this subchapter shall be applicable. Any bank, savings and loan association, or credit union shall not be deemed a PAWNBROKER for purposes of this subchapter.
PAWNSHOP. Any business or establishment used or operated by a pawnbroker.
PERSON. Any one or more natural persons; a partnership, including a limited partnership; a corporation, including a foreign, domestic, or nonprofit corporation; a trust; a political subdivision of the state; or any other business organization.
REPORTABLE TRANSACTION. Every transaction conducted by a pawnbroker in which merchandise is received through a pawn, purchase, consignment, or trade, or in which a pawn is renewed, extended, redeemed, or voided, or for which a unique transaction number or identifier is generated by their point of sale software, or when an item is confiscated by a law enforcement agency, is a REPORTABLE TRANSACTION, except:
(1) 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 the merchandise, provided the pawnbroker must maintain a record of the purchase or consignment which describes each item, and must mark each item in a manner which relates it to that transaction record; and/or
(2) Retail and wholesale sales of merchandise originally received by pawn or purchase, and for which all applicable hold and/or redemption periods have expired.
UNIQUE IDENTIFIER. A serial number, identification number, model number, owner applied identifier or engraving, “operation identification” number or symbol, or other unique marking.
(Prior Code, § 111.286)