[Ord. No. 1600 §1, 9-26-1995]
As used in this Chapter, the following terms shall have these
prescribed meanings:
PAWNBROKER
Any person engaged in the business of lending money on the
security of pledged goods or engaged in the business of purchasing
tangible personal property on condition that it may be redeemed or
repurchased by the seller for a fixed price within a fixed period
of time.
PAWNSHOP
The location at which or premises in which a pawnbroker regularly
conducts business.
PERSON
Any individual, partnership, corporation, joint venture,
trust, association or other legal entity however organized.
PLEDGED GOODS
Tangible personal property which is deposited or otherwise
actually delivered into possession of a pawnbroker in the course of
his/her business in connection with a pawn transaction.
[Ord. No. 1600 §4, 9-26-1995]
No pawnbroker shall charge or receive more than two percent
(2%) per month on any loan.
[Ord. No. 1600 §5, 9-26-1995]
No pawnbroker or any employee of such pawnbroker shall buy,
receive or take any personal property, goods, wares or merchandise
from any minor or have in possession any personal property, goods,
wares or merchandise so had and obtained.
[Ord. No. 1600 §6, 9-26-1995]
A. Required Contents. Every pawnbroker shall keep a register
of all loans and purchases of articles made or effected by him/her,
which register shall show and include:
1. The
name and address of the pawnshop.
2. The
name, age, sex, race and address of the pledgor, the pledgor's description
and the driver's license number, military identification number, identification
certification number or other official number capable of identifying
the pledgor.
3. The
date of the transaction.
4. A detailed
identification and description of the pledged goods, including serial
numbers if reasonably available.
5. The
amount of cash advanced or credit extended to the pledgor.
6. The
amount of the pawn service charge.
7. The
total amount which must be paid to redeem the pledged goods on the
maturity date.
8. The
maturity date of the pawn transaction.
9. A statement
to the effect that the pledgor is not obligated to redeem the pledged
goods and that the pledged goods may be forfeited to the pawnbroker
sixty (60) days after the specified maturity date.
10. A
statement that the pawnshop has verified pledgor's identity by requiring
presentation by pledgor of an official picture identification card.
B. Inspection. The register shall at all times be open to the
inspection of commissioned Police Officers of the City of Eldon, Missouri,
Police Department.
C. Time Of Maintenance. The register of all loans and purchases
shall be maintained at the place of business for a period of two (2)
years after the date the transaction occurred.
[Ord. No. 1600 §7, 9-26-1995]
In addition to keeping the register, every pawnbroker shall
give the person depositing or selling any property a plainly written,
typed or printed receipt for the article deposited or purchased, having
thereon a copy of the entries required herein to be kept in his/her
register.
[Ord. No. 1600 §8, 9-26-1995]
In case the person obtaining the loan fails to pay the interest
or principal when due, the pawnbroker shall not sell the article pawned
with him/her as security for such loan until the expiration of sixty
(60) days from the date of such failure. The person so failing may
at any time within the sixty (60) days redeem the article if he/she
pays the full amount of principal and interest due at the date of
such redemption according to the terms of the contract. If the person
obtaining the loan fails to redeem the article within the sixty (60)
days, he/she shall thereby forfeit all his/her right, title and interest
in and to such article to the pawnbroker who shall thereby acquire
and possess an absolute right in and to them to hold and dispose of
them as his/her own property.