[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.
