(A) In addition to the other requirements of this chapter, a pawnbroker who holds a title to a motor vehicle as part of a pawn transaction shall:
(1) Be licensed as a used motor vehicle dealer under M.S. Ch. 168, as it may be amended from time to time, and post such license on the pawnshop premises;
(2) Verify that there are no liens or encumbrances against the motor vehicle with the Department of Public Safety; and
(3) Verify that the pledgor has automobile insurance on the motor vehicle as required by law.
(B) A pawnbroker may not sell a motor vehicle covered by a pawn transaction until 90 days after recovery of the motor vehicle.
(2006 Code, § 6.43) (Ord. 125, 3rd Series, passed 6-5-1998)