As used in this chapter, the following terms
shall have the meanings indicated:
PAWNBROKER or COLLATERAL LOAN BROKER
Any person who:
A.
Loans money on deposit or pledge of personal
property, other than securities or printed evidence of indebtedness;
B.
Deals in the purchasing of personal property
on condition of selling back at a stipulated price; or
C.
Designates or does business as furniture storage
warehouseman, and loans and advances money upon goods, wares or merchandise
pledged or deposited as collateral security.
No person shall conduct the business of a pawnbroker
or collateral loan broker without having obtained a license therefor
from the City Clerk.
The annual license fee for each pawnbroker or collateral loan broker shall be as set forth in Chapter
133, Fees, and every such pawnbroker or collateral loan broker shall give a bond to the City with at least two sufficient sureties who shall be residents and freeholders of the City or of a surety company to be approved by the City Clerk in the penal sum of $1,000, conditioned for the faithful performance of the duties and obligations pertaining to the business so licensed.
Before said license shall be issued, the application
shall be approved in writing as to the character of the applicant
by the Commissioner of Police.
All licenses issued pursuant to this chapter
shall be for the period of one year, said period starting at any time
and terminating one year therefrom.
In the application for the license, the applicant
shall designate the place where he intends to carry on the business
of pawnbroker or collateral loan broker, and the license shall designate
said place of business, and no pawnbroker or collateral loan broker
shall carry on business in any other place than the one designated
in said license. The license shall be prominently displayed in said
place of business.
No pawnbroker or collateral loan broker shall
purchase any secondhand furniture, metals, clothing or other article
or thing whatever offered to him as a pawn or pledge, nor shall he
engage in any secondhand or junk business, nor receive in pawn or
as a pledge any instrument or weapon mentioned in § 265.00
of the Penal Law of the State of New York.
An offense against the provisions of this chapter
shall be punishable by a fine of not more than $250 or by imprisonment
for not more than 15 days, or both.