[HISTORY: Adopted by the Fiscal Court of Henderson County as Ch. 111 of the 1993 Code. Amendments noted where applicable.]
Precious metals dealers — See Ch. 191.
For the purposes of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning:
- Any person who loans money on deposit of personal property; deals in the purchase of personal property on condition of selling the property back again at a stipulated price; makes a public display at his place of business of the sign generally used by pawnbrokers to denote their business; or who publicly exhibits a sign advertising money to loan on personal property or deposit. (KRS 226.010)
Every person to whom a County license is granted to carry on the business of a pawnbroker shall annually enter into bond to the County, with good and sufficient surety to be approved by County Fiscal Court, in the penal sum of $1,000. This bond shall be conditioned that he will observe the provisions of this chapter and all ordinances and laws in force in the County not inconsistent with this chapter. (KRS 226.020)
Every pawnbroker shall keep a register of all loans and purchases of all articles effected or made by him. The register shall show the dates of all loans or purchases, and the names of all persons who have left any property on deposit as collateral security or as a delivery or sale. Opposite the names and dates shall be written in plain hand a full description of all property purchased or received on deposit as collateral security, the time when the loan falls due, the amount of purchase money, the amount loaned, and the interest charged. The register shall at all times be open to the inspection of any police officer of the County when in the discharge of his official duty. (KRS 226.040)
If so required by KRS 226.070(1), every pawnbroker shall, by 11:00 a.m. each day, make available to the chief law enforcement officer a true and correct written report of all goods received by him, whether by pawn or purchase, during the 24 hours preceding each report. The report shall describe the goods as accurately as practicable. The chief law enforcement officer shall furnish blanks for these reports. (KRS 226.070)
Every pawnbroker shall give a plain written or printed ticket for the loan to the person negotiating or selling, and a plain written or printed receipt of the articles that have been purchased or upon which money is loaned, having on each a copy of the entries required by § 186-3A to be kept in his register. He shall not make any charge for the ticket or receipt.
A pawnbroker may sell any article pawned after the expiration of 90 days from the maturity of the loan. However, not less than 10 days before making the sale, the pawnbroker shall give notice to the person by whom the article was pawned by mail addressed to the post office address of that person as shown on the pawnbroker's register, notifying such person that, unless he redeems the article within 10 days from the date of mailing of the notice, the article will be sold. (KRS 226.050)
Any pawnbroker, as defined in § 186-1, may, in loaning money on deposit of personal property, charge, contract for, or receive interest at a rate not exceeding 2% per month on the unpaid principal balance of the loan, and may charge, contract for, and receive a reasonable fee, not to exceed 1/5 of the value of the loan per month, for investigating the title, storing and insuring the property, closing the loan, making daily reports to local law enforcement officers if required by § 186-3, and for other expenses, losses, and incidental costs associated with servicing such loans. Further, this fee, when made and collected, shall not be deemed as interest for any purpose of law. No pawnbroker shall directly or indirectly charge, receive, or contract for any interest or consideration greater than that allowed by this section. (KRS 226.080)
Every pawnbroker, upon receiving any payment of money from a borrower, shall give to that person a plain and complete receipt for such payment, specifying separately the amount applied to principal and the amount applied to interest. In a case where the pawnbroker has purchased personal property under an agreement to sell it back at a stipulated price, the pawnbroker shall, on receiving any payment of money from the person from whom purchased, give that person a receipt stating the original purchase price, the stipulated resale price, and the amount received. (KRS 226.090)
No pawnbroker shall receive, by way of either pledge or pawn, any article whatever from a minor at any time nor from any person between 8:00 p.m. and 7:00 a.m. (KRS 226.030)
Enforcement of the provisions of this chapter shall be within the jurisdiction of the Fiscal Court of the County, except that County police shall not exercise authority within the corporate limits of a city of 10,000 or more population. County police, for the purpose of locating stolen goods, may carry out the provisions of KRS 226.060 in a city of any size or in the County area of the jurisdiction. (KRS 226.100)
Any pawnbroker or pawnbroker's clerk who violates any of the provisions of this chapter for which no penalty is otherwise provided shall, upon conviction, be fined not less than $50 nor more than $300, and his license may be forfeited to the County. [KRS 226.990(1)]