(A) Hours of operation. No pawnbroker shall keep the pawnbroker business open for the transaction of business on any day of the week before 7:00 a.m. or after 10:00 p.m.
(B) Minors. A pawnbroker shall not purchase or receive personal property on deposit or pledge from any minor.
(C) Incompetent persons. A pawnbroker shall not purchase or receive personal property on deposit or pledge from any incompetent person.
(D) Prohibited goods. No licensee under this subchapter 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 subchapter, SECURITY INTEREST means an interest in property which secures payment or other performance of an obligation.
(F) True owner. 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 the person is not the true and correct owner of the property.
(G) Proper identification. No licensee nor any agent or employee of a licensee shall purchase, accept, or receive any article of property, from any person, without first having examined an acceptable form of identification.
(H) Payment by check. Payment of more than $250 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. A pawnbroker shall suspend, for one year, any business transaction with any person who has sold and/or forfeited, on six previous occasions, articles for which the person received $50 or more per transaction within a single six-month period.
(Prior Code, § 111.297) Penalty, see § 113.99