No person shall use, exercise or carry on the trade or business of pawnbroker within the City without first obtaining a license from the License Officer.
As used in this Chapter, certain terms are defined as follows:
(a) 
PAWNBROKER
Any person who:
(1) 
Engages in the business of lending money on the deposit or pledge of personal property, other than choses in action, securities or written evidence of indebtedness; or
(2) 
Purchases personal property with an express or implied agreement or understanding to sell it back at a subsequent time at a stipulated price; or
(3) 
Lends money upon goods, wares or merchandise pledged, stored or deposited as collateral security.
(b) 
PLEDGE
Articles deposited with a pawnbroker as security for a loan in the course of his or her business.
(c) 
PLEDGOR
The person who obtains a loan from a pawnbroker and delivers a pledge into the possession of a pawnbroker, unless the person discloses that he or she is or was acting or another in which case a "pledgor" means the disclosed principal.
Each pawnbroker shall keep a book legibly written in the English language in which shall be recorded:
(a) 
A full and accurate description of all articles purchased or pledged.
(b) 
The time of purchase or pledge.
(c) 
The time within which the purchased or pledged article is to be redeemed.
(d) 
The amount of money lent or paid thereof.
All pawnbrokers before 12:00 noon of every business day shall report to the Superintendent of Police a description of all articles received in the course of pawnbroking during the previous business day, together with the number of tickets and a description of the persons making the transactions.
Every pawnbroker shall at the time of making or receiving any article in pawn, deliver to the pledgor a memorandum signed by him or her containing:
(a) 
The date.
(b) 
The amount of the loan.
(c) 
The rate of interest and storage charges.
(d) 
The time within which the article is to be redeemed.
(e) 
A description of the article pledged.
In addition to reasons specified in § 701.14, if any pawnbroker is convicted of robbery, burglary, larceny, receiving stolen goods or any other crime involving the unlawful obtaining of personal property, the License Officer shall immediately revoke his or her license.
[Ord. 42-1990, eff. 1-1-1991; Ord. No. 27-2018, § 1, eff. 8-6-2018; Ord. No. 37-2021, § 14, eff. 10-14-2021]
The fee for the issuance of a pawnbroker's license shall be due annually as prescribed by the fee schedule established by the process set forth in Chapter 170 of the City Code and is valid for a period of three hundred sixty-five (365) days from the date of issuance.