[R.O. 2011 § 625.200; R.O. 2009
§ 116.35; Ord. No. 99-433, 12-22-1999]
For the purpose of this Article,
the following definition shall apply unless the context clearly indicates
or requires a different meaning.
Any business which loans money on a short-term basis to members
of the general public as an element of its operation, including: businesses
offering title loans, payday loans, signature loans and small loans
under Chapter 367 or Section 408.500, RSMo.; and other similar businesses.
Short-term loan establishment shall not include: a bank, savings and
loan association or credit union which is licensed by the appropriate
State or Federal agency; or a retail credit financing institution
which is licensed under Chapters 364 or 365, RSMo.; or pawnbrokers
or retail merchants.
[R.O. 2011 § 625.210; R.O. 2009
§ 116.36; Ord. No. 99-433, 12-22-1999]
No person shall conduct or operate
the business of short-term loan establishment without having first
obtained from the Director of Finance a license upon the payment of
a license fee as provided in this Article. All licenses under the
provisions of this Article shall be issued only upon an application
form supplied by the Director of Finance and prepared by the applicant
or a duly authorized agent.
[R.O. 2011 § 625.220; R.O. 2009
§ 116.37; Ord. No. 99-433, 12-22-1999; Ord.
No. 22-168, 12-20-2022]
The license required by this Article shall be effective from January 1 through December 31 in a given calendar year. The annual fee for a short-term loan establishment license shall be the amount stated in Section 150.030. The license fee will be reduced by one-half (1/2) after one-half (1/2) of the license period is past. No license shall be issued until the fee is paid.
[R.O. 2011 § 625.230; R.O. 2009
§ 116.38; Ord. No. 99-433, 12-22-1999]
A.
No short-term loan establishment shall
be allowed to have more than one (1) place for transacting the business
of short-term loan establishment without having first obtained a license
for such place of business.
B.
No person shall act as agent for a short-term
loan establishment at any other place than the place of business stated
in the application for a license.
[R.O. 2011 § 625.240; R.O. 2009
§ 116.39; Ord. No. 99-433, 12-22-1999]
No license for operating the business
of short-term loan establishment shall be issued when the issuance
thereof would increase the number of such licenses outstanding and
in force at that time to more than one (1) for each fifteen thousand
(15,000) inhabitants residing within the City according to the last
decennial census of the United States; provided that all persons conducting
or operating the business of short-term loan establishment within
the City of St. Charles on the effective date of this Article may
be issued a license if they meet all other requirements for licensure.
The renewal of an unexpired existing license shall have priority over
the issuance of a new license.
