No person shall carry on the business of a pawnbroker in the City unless
he is duly licensed therefor by the City Council in accordance with the provisions
of Chapter 140 of the General Laws of Massachusetts.
The fee for a pawnbroker's license shall be as set forth in Chapter
174, Fees, and each pawnbroker shall furnish a bond as provided therein.
No pawnbroker shall, directly or indirectly, receive any article in
pawn from any minor knowing or having reason to believe him to be such.
The rate of interest which such pawnbroker may receive on loans shall
be as fixed from time to time by order of the City Council pursuant to the
General Laws of Massachusetts, Chapter 140.