As used in this chapter, the following terms shall have the
meanings indicated:
PAWNBROKER
Every person, partnership, or corporation, except a national
bank or bank or trust company duly incorporated under the laws of
this state, engaged in the business of loaning money on the security
of a deposit of any personal property other than choses in action,
whether or not a note or other evidence of indebtedness be given by
the borrower, shall be deemed to be carrying on the business of a
pawnbroker, within the meaning of this chapter, and shall be subject
to all the provisions contained in this chapter.
Before any license is issued under the provisions of this chapter,
the person applying for the license shall give bond to the Town Treasurer
in the penal sum of $2,000 with at least two sureties satisfactory
to the Town Council, which sureties shall be residents of the Town,
conditioned that he or she will not violate any of the provisions
of this chapter, and for the payment of all costs and damages incurred
by any violation of this chapter, and the other fines and penalties
provided for in this section for any violation of the provisions of
this chapter shall not affect the liability of the obligor upon the
bond.
Every person carrying on the business of pawnbroker without
a license shall be fined $200 for the first offense and $500 for the
second and every subsequent offense.
Any license granted may be revoked and annulled by the Town
Council at any time without affecting any liability under the bonds
to be given and without any claim for the money, or any part of the
money, paid for the license.