(A) No person, corporation, partnership, company or firm, or other entity located in the city shall carry on the business of a pawnbroker or secondhand dealer in the city without being licensed pursuant to the Pawnbrokers Act, being M.C.L.A. §§ 446.201 et seq. and Secondhand Dealers Act, being M.C.L.A. §§ 445.401 et seq. and this section and as approved under this subchapter. A secondhand dealer and pawnbroker’s license is not transferable.
(B) Prior to issuance of license both pawnbrokers and secondhand dealers shall file a bond in the penal sum of $3,000 conditioned that such applicant will in all respects faithfully comply with and observe all of the Pawnbrokers and Secondhand Dealer Acts of 1917, being M.C.L.A. §§ 445.401 et seq.
(C) All applicants, prior to the issuance of the license shall affirm that such applicant will in all respects faithfully comply with and observe all the applicable federal, state and local laws and regulations, including Public Act 350 of 1917, being M.C.L.A. §§ 445.401 et seq. and faithfully perform the duties and obligations of the business, including compliance with the provisions of the City Charter, the code of ordinances and this subchapter.
(Prior Code, § 40-78) (Ord. 1394, passed 2-10-2014; Ord. 1477, passed 6-17-2019)