[Ord. No. 431 §1, 5-16-1994]
Unless the context specifically indicates otherwise, the meaning
of the terms used in this Chapter shall be as follows:
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.
The location at which or premises in which a pawnbroker regularly
conducts business.
Any individual, partnership, corporation, joint venture,
trust, association or other legal entity however organized.
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. 431 §2, 5-16-1994]
No person shall carry on the business of pawnbroker within the
limits of Scott City, Missouri, without obtaining a license therefore.
The annual license fee for the operation of a pawnbroker business
shall be five hundred dollars ($500.00) per year.
[Ord. No. 431 §3, 5-16-1994]
A.
The
City shall not issue any license to an applicant for a pawnbroker's
business, unless it first determines that:
1.
The applicant is of good moral character;
2.
The applicant has net assets of at least fifty thousand dollars ($50,000.00)
readily available for use in conducting the business of a pawn shop
for each licensed pawnshop;
3.
The applicant has no felony or misdemeanor convictions which directly
relate to the duties and responsibilities of the occupation of a pawnbroker
or otherwise make the applicant unfit for a pawnshop license. If the
applicant is a partnership or incorporation, said application shall
be denied if any of the partners of the partnership or any of the
officers, shareholders, or directors of the corporation have felony
or misdemeanor convictions which directly relate to the duties and
responsibilities of the occupation of pawnbroker.
4.
If the City is unable to verify that the applicant meets the net
assets requirements for a licensed pawnshop, the applicants shall
be required to present a current balance sheet, prepared by an independent
certified public accountant, stating that the accountant has reviewed
the books and records of the applicant and that the applicant meets
the net asset requirements of this Section.
5.
Any application for a pawnshop license shall be made under oath and
shall state the full name and place of residence of the applicant,
the place where the business is to be conducted, if the applicant
is a partnership, the full name and address of each partner, if the
applicant is a corporation, the full name and address of each officer,
shareholder and director of the corporation.
6.
Each application shall be accompanied by an investigation fee of
five hundred dollars ($500.00), if the applicant is unlicensed at
the time of applying for the pawnshop license, or two hundred fifty
($250.00) dollars if the application involves a second or additional
license for an applicant previously licensed. In addition, said application
shall contain proof of general liability insurance.
7.
Before any license to conduct the business of pawnbroker is issued
to any person, he/she must, in addition to paying the annual license
fee of five hundred dollars ($500.00), file with the City a bond in
the amount of five thousand dollars ($5,000.00) with a surety company
qualified to do business in this State. The bond shall run to the
State for the use of the State and of any person or persons who may
have a cause of action against the obligor of such bond under the
provisions of Chapter 367 of the Missouri Statutes. Such bond shall
be conditioned that the obligor will comply with the provisions of
Chapter 367 of the Missouri Statutes and all rules and regulations
lawfully made by the City of Scott City, Missouri, and will pay to
the State and to any such person or persons any and all amounts of
money that may become due or owing to the State or to such person
or persons from such obligor under and by virtue of the provisions
of Chapter 367 of the Missouri Statutes.
[Ord. No. 431 §4, 5-16-1994]
No pawnbroker shall charge or receive more than two percent
(2%) per month on any loan.
[Ord. No. 431 §5, 5-16-1994]
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 his/her possession any personal property,
goods, wares or merchandise so had and obtained.
[Ord. No. 431 §6, 5-16-1994]
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 Scott City 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. 431 §7, 5-16-1994]
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. 431 §8, 5-16-1994]
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.
