[R.O. 1995 § 646.010; Ord. No. 2009-17 § 1, 12-1-2009]
A.
The Board of Aldermen, after public hearing and further study by
the Board, finds that businesses referred to herein should be regulated
by the City because certain lending practices have proven detrimental
to the financial security of individuals and families residing in
the City. Certain lending practices often have an unreasonably adverse
effect upon the elderly, the economically and socially disadvantaged
and other residents of the City.
B.
Frequently, a payday or title loan puts borrowers in much worse financial
shape than before they took the loan. Therefore, the purpose of this
Chapter is to require licensing for the purpose of regulating certain
loan lending practices to minimize the detrimental effects of such
practices on the citizens of the City by regulating certain lending
practices occurring in the City, consistent with the laws of the State
of Missouri. Furthermore, the City finds there is a need to regulate
the placement and location of alternative financial services businesses
throughout the City. A clustering of these businesses can have a detrimental
effect on the neighborhood and create the appearance of a commercial
district in decline. These businesses are detrimental to adjacent
businesses, create auto traffic for customers seeking loans and requiring
automobile appraisals and a proliferation of them at particular locations
can overwhelm a neighborhood and can be a disincentive for the location
of other neighborhood businesses in close proximity to them. Finally,
the fact that many surrounding communities in the metropolitan area
are adopting or considering adopting restrictions on the location
of such businesses could result in the City having an undue concentration
of these businesses in the City unless location regulations are enacted.
[R.O. 1995 § 646.020; Ord. No. 2009-17 § 1, 12-1-2009]
For the purposes of this Chapter and Chapter 400, Zoning Regulations, the following definitions shall apply:
A business engaged in providing short-term or small loans
to the public, including, but not limited to, small loan companies
operating pursuant to Sections 367.100 through 367.215, RSMo., payday
lenders operating pursuant to Sections 408.500 through 408.506, RSMo.,
consumer installment lenders operating pursuant to Section 408.510,
RSMo., title lenders operating pursuant to Sections 367.500 through
367.533, and any business which offers these or substantially similar
services that are not insured by the Federal Deposit Insurance Corporation
or similar Federal or State insurance. This definition shall not include:
A State or Federally chartered bank, savings association or
credit union;
Pawnbrokers operating in conformity with this Municipal Code;
or
Establishments selling consumer goods, including consumables,
where the cashing of checks or money orders is clearly incidental
to the main purpose of the business.
Any business regulated by Sections 408.500 through 408.506,
RSMo., as the same may be amended from time to time.
A consumer loan transaction, including a loan made pursuant
to Sections 367.500 through 367.533, RSMo., and amendments thereto,
secured by a vehicle. It shall not include a purchase money consumer
loan.
Every device in, upon or by which any person or property
is or may be transported or drawn upon a public highway and the ownership
of which is evidenced by a certificate of title.
[R.O. 1995 § 646.030; Ord. No. 2009-17 § 1, 12-1-2009]
A.
It shall be unlawful for any person or business:
1.
To operate or maintain an alternative financial services business
in the City unless the owner, operator or lessee thereof has applied
for and obtained an alternative financial services business permit
from the City; or
2.
To operate such business after such permit has expired or has
been revoked or suspended by the City.
B.
Permits shall be required for each location a lender operates in
the City, shall be valid for a one-year period of time and may be
renewed annually. The application shall be in a form to be determined
by the City Clerk. This permit shall be in addition to any other permit
or license required by other local, State or Federal government agencies.
No permit shall be issued for any business seeking to operate at a
location prohibited by any applicable local, State or Federal law,
Statute, ordinance, rule or regulation; provided, however, that a
business lawfully in existence on the date of adoption of such prohibition
may be issued a permit if allowed by such provisions.
[R.O. 1995 § 646.040; Ord. No. 2009-17 § 1, 12-1-2009]
No permit shall be issued for any alternative financial services
business that is located within five thousand two hundred eighty (5,280)
feet of any other alternative financial services business or within
a two hundred (200) feet radius of any property used primarily for
a single-family residence, a two-family residence, a town home, or
an apartment building. The separation distances shall be measured
from or to the outer structural supporting wall of the business, and
from or to the property line of the property containing the residential
use. However, this separation provision shall not apply to any alternative
financial services business that can demonstrate to the City that
they were lawfully in operation at the location requested in the permit
application prior to the effective date of this Chapter, and that
they have operated continuously under the same business name since
that time.
[R.O. 1995 § 646.050; Ord. No. 2009-17 § 1, 12-1-2009]
Any business that applies for and receives an alternative financial
services business permit from the City shall keep such permit posted
on a wall within their business in a prominent location clearly visible
to potential customers. Failure to keep the permit posted in the manner
required shall be prima facie evidence that the business has not obtained
such a permit. It shall also be prima facie evidence that any person
who performs any business or service as part of the alternative financial
services business had knowledge that such business was not permitted.
In addition, any business that applies for and receives an alternative
financial services permit from the City shall post a sign in the business
at a location clearly visible to potential customers that informs
customers of their rights under Federal, State, or local laws in a
form approved by the City Attorney.
[R.O. 1995 § 646.055; Ord. No. 2009-17 § 1, 12-1-2009]
It shall be unlawful for any person to knowingly perform any
work or service directly related to the operation of an alternative
financial services business that does not have a valid business permit.
[R.O. 1995 § 646.060; Ord. No. 2009-17 § 1, 12-1-2009]
Any business that applies for and receives an alternative financial
services business permit from the City shall be deemed to have consented
to periodic entry into and inspection of the business premises by
appropriate City Officials, including the inspection of only those
business records necessary for the limited purpose of determining
whether such business enterprise is in compliance with this Chapter
or any other applicable State or Federal law or regulation. This entry
and inspection shall take place during hours when such business is
open to the public, unless otherwise requested by the business, and
shall not unreasonably interfere with the conduct of such business.
[R.O. 1995 § 646.070; Ord. No. 2009-17 § 1, 12-1-2009]
Any permit issued pursuant to this Chapter shall be subject
to revocation for the violation of any provision of this Chapter or
any applicable local, State or Federal law, Statute, ordinance, rule
or regulation.
[R.O. 1995 § 646.080; Ord. No. 2009-17 § 1, 12-1-2009]
Any violation of any provision of this Chapter by a person or
business shall be a public offense and shall be subject to the penalties,
fines and civil remedies as set forth in Section 100.220.of this Code.
