[HISTORY: Adopted by the City Council of the City of Yonkers 12-28-1948 by G.O. No. 46-1948; amended in its entirety 7-2-1991 by G.O. No. 15-1991. Subsequent amendments noted where applicable.]
As used in this chapter, the following terms shall have the meanings indicated:
- The Director of the Office of Licensing, who is also referred
to as the Consumer Protection Officer in Article IIIA of the Charter,
and shall include the designee of the Director, unless otherwise provided.[Amended 7-18-1996 by L.L. No. 5-1996]
- Includes any person, partnership, corporation or firm:
- A. Loaning money on deposit or pledge of personal property, other than securities or printed evidence of indebtedness;
- B. Dealing in the purchasing of personal property on condition of selling back at a stipulated price; or
- C. Designated as or doing business as furniture-storage warehousemen and loaning and advancing money upon goods, wares or merchandise pledged or deposited as collateral security.
[Amended 7-18-1996 by L.L. No. 5-1996]
No person, corporation, partnership or firm shall hereafter carry on the business of pawnbroker in the City of Yonkers without first having obtained a license authorizing the carrying on of such business in the manner and upon the conditions stated in the succeeding sections of this chapter, to be issued by the Director of the Office of Licensing.
[Amended 8-12-2004 by G.O. No. 5-2004]
The Director may from time to time grant to such citizens as the Director deems proper and who shall produce satisfactory evidence of their good character a license authorizing such citizens to carry on the business of pawnbroker, which license shall designate the premises in which such person shall carry on said business, and no person, corporation, partnership or firm shall carry on the business of pawnbroker without being licensed nor in any other premises than the one designated in said license.
Any person receiving such license shall pay therefor to the Comptroller of the City of Yonkers yearly the sum of $750, and every such license shall expire one year from the date thereof and may be renewed on application to the Director each and every year on payment of said sum and upon performance of the other conditions herein contained.
[Amended 6-26-2012 by G.O. No. 7-2012]
Every person so licensed shall, at the time of receiving such license, file with the Director a bond to the City of Yonkers, to be executed by the person so licensed and by a surety company authorized to transact business in the State of New York, in the penal sum of $10,000, to be approved by the Corporation Counsel, which bond shall be conditioned for the faithful performance of the duties and obligations pertaining to the business so licensed. The Director shall have full power and authority to suspend and revoke such license for cause.
Any person aggrieved by the misconduct of any such licensed pawnbroker, who shall recover judgment against him therefor, may, after the return unsatisfied, either in whole or in part, of any execution issued upon said judgment, maintain an action in his own name upon the bond of said pawnbroker in any court having jurisdiction of the amount claimed, provided that such court shall, upon application made for the purpose, grant leave to prosecute.
Every licensed pawnbroker shall keep a book in which shall be fairly written, at the time of such loan, an account and description of the goods, articles or things pawned or pledged, the amount of money loaned thereon, the time of pledging the same, the rate of interest to be paid on such loan and the name and residence of the person pawning or pledging the goods, articles or things and shall fill out a card containing the description of the articles pawned, with any and all numbers and marks of identification contained thereon, and such card shall be filed with the Office of Licensing within 24 hours after receipt of the article.
Every licensed pawnbroker shall, at the time of each loan, deliver to the person pawning or pledging any goods, article or thing a memorandum or note, signed by him, containing the substance of the entry required to be made in his book by the last preceding section, and no charge shall be made or received by any pawnbroker for any such entry, memorandum or note. The holder of such memorandum or note shall be presumed to be the person entitled to redeem the pledge, and the pawnbroker shall deliver such article to the person so presenting such memorandum or note on payment of principal and interest. Should such memorandum or note be lost or mislaid, the pawnor shall at once apply to the pawnbroker, in which case it shall be the duty of the pawnbroker to permit such person to examine his books; and on finding the entry for such memorandum or note so lost or mislaid and upon his giving to the pawnbroker an exact description of the article pawned, the pawnbroker shall issue a second or stop memorandum or note for the same. In case such pawnor neglects to so apply and to examine said books and receive such memorandum or note in the manner above stated, the pawnbroker will be bound to deliver the pledge to any person producing such memorandum or note for the redemption thereof. This chapter is not to be construed as in any manner limiting or affecting such pawnbroker's common-law liability in cases where goods are stolen or other defects of title exist in the pledgor.
The book of a licensed pawnbroker shall be open to the inspection of the Director, all Judges of the criminal courts, the police, or any or either of them, or of any person who shall be duly authorized, in writing, for that purpose by any or either of them and who shall exhibit such written authority to such pawnbroker.
No licensed pawnbroker shall ask, demand or receive any greater rate of interest than allowed under the laws of the State of New York or this section, whichever is less. Maximum rates of interest allowed pursuant to this section are 3% per month, or any fraction of a month, for the first six months and 2% per month for each succeeding month upon any loan not exceeding the sum of $100 or 2% per month for the first six months and 1% per month for each succeeding month on any loan exceeding the sum of $100.
No licensed pawnbroker shall purchase any secondhand furniture, metals, clothing or other article or thing whatever offered to him as a pawn or pledge, nor shall it be lawful for any such pawnbroker, licensed as aforesaid, to engage in any secondhand business nor to receive in pawn as a pledge any instrument or weapon mentioned in § 265.00 of the Penal Law.
No licensed pawnbroker shall sell any pawn or pledge until the same shall have remained in his possession for one year, and all such sales shall be at public auction and not otherwise and shall be conducted by licensed auctioneers of the City of Yonkers or, if the sale of such pawns or pledges is authorized to be held in an adjoining City, by licensed auctioneers of any such City.
No pledge shall be sold unless written or printed notice of intention to sell with a statement of the article or articles to be sold has first been mailed by letter addressed to the pledgor at the address given at the time of pledging at least 10 days prior to the sale.
Notice of every such sale shall be published for at least six days previous thereto in the official newspapers of the City of Yonkers.
The Director may authorize the pawnbroker to hold the sale of pledges in an adjoining City, in which event the notice of sale shall be published for at least six days previous thereto in the official newspapers of the City of Yonkers and in two daily newspapers of the City where the sale is to take place, such daily newspapers to be designated by the Director.
Such notice of sale shall specify the time and place at which such sale is to take place and the name of the auctioneers by whom the same is to be conducted, together with a statement of the class of pledges to be sold and the inclusive dates and numbers of the pawn tickets of the pledges to be sold.
If the pledge, at such sale, shall be purchased by the pawnbroker, the pledgor shall be entitled to redeem the same within 10 days thereafter by tendering to the pawnbroker the amount of the loan with interest thereon.
The surplus money, if any, arising from any such sale, after deducting the amount of the loan, the interest then due on the same and the expense of advertisement and sale, shall be paid over by the pawnbroker to the person who would be entitled to redeem the pledge in case no such sale had taken place.