[Amended 10-2-2000 ATM by Art. 10, approved 3-29-2001]
The intent of this by-law is to establish a
system which fairly and impartially regulates retail transactions
of a pawn-broker or a second-hand dealer for the purpose of:
A. Identifying stolen property unintentionally received
by the regulated parties; and
B. Detection of regulated parties intentionally transacting
business in stolen property.
PAWNBROKER — Any transaction
wherein there is the lending of money secured by taking possession
of jewelry, wearing apparel, household goods or other personal property,
with interest charged thereon, shall be regulated.
SECOND-HAND DEALER
Shall mean any person, firm, partnership or corporation whose
business is the retail buying, selling, buy-back, exchanging, dealing
in or dealing with second-hand articles including but not limited
to jewelry, watches, diamonds, or other precious stones or gems, gold,
silver, platinum, or other precious metals, musical instruments and
equipment, cameras, furs, small collectible antiques, home and auto
stereo equipment, televisions, VCR's, tools, computers and computer
equipment, firearms, auto accessories, sporting equipment and collectibles.
Mail order transactions or retail stores that exchange or provide
cash or credit for returned articles shall not be included within
these definitions.
No second-hand dealer/pawnbroker, nor any person
employed by a second-hand dealer/pawnbroker shall directly or indirectly
purchase any aforementioned article from anyone under 18 years old,
knowing or having reason to believe him or her to be such, except
when said minor is accompanied by a parent or legal guardian, who
shall sign the transaction record in person before said dealer.