[Ord. No. 93-1, § 1, 2-3-1993]
The Town Council is hereby authorized to provide for the issuance of pawnbroker licenses in the Town.
[Ord. No. 93-1, § 2, 2-3-1993]
A pawnbroker is defined as any person or business entity except a bank, trust company, mortgage company, credit union or other financial institution to do business in this state, who is engaged in the business of loading money on the security of a deposit of any person, property other than choses in action, whether or not a note or other evidence of indebtedness be given by the borrower.
[Ord. No. 93-1, § 3, 2-3-1993]
The Town Council may grant a pawnbroker license to any state resident to carry on a pawnbroker business for a term of one year at the place designated therein, and every license so granted shall designate the place where the business shall be carried on. Application for such license shall be approved by the Town zoning official and Police Chief prior to its presentation to the Town Council. The annual fee for a pawnbroker license is $200. The fee for an annual license shall entitle a person to a license for a period ending March 31 of each year.
[Ord. No. 93-1, § 4, 2-3-1993]
Prior to the issuance of any license, the applicant shall post a bond with the Town finance director in the amount of $2,000 with at least two sureties who are also residents of the Town and who are satisfactory to the Town Council.
[Ord. No. 93-1, § 5, 2-3-1993]
The Town Council shall have the right to revoke any pawnbroker license for just cause and shall not be required to return any portion of the annual license fee.
[Ord. No. 93-1, § 6, 2-3-1993]
Any person carrying on the business of a pawnbroker without a license shall be fined $200 for the first offense and $500 for the second and every subsequent offense.
[Ord. No. 93-1, § 7, 2-3-1993]
The holder of any pawnbroker license shall comply with all the provisions relating to pawnbrokers as set forth in G.L. 1956, §§ 19-26-1 through 19-26-19, inclusive, including but not limited to records and reports and the violation of any of the aforementioned provisions of the general laws may result in the revocation of the license and imposition of fines as prescribed by general law.