[Ord. No. 1600 §1, 9-26-1995]
As used in this Chapter, the following terms shall have these
prescribed meanings:
Any person engaged in the business of lending money on the
security of pledged goods or engaged in the business of purchasing
tangible personal property on condition that it may be redeemed or
repurchased by the seller for a fixed price within a fixed period
of time.
The location at which or premises in which a pawnbroker regularly
conducts business.
Any individual, partnership, corporation, joint venture,
trust, association or other legal entity however organized.
Tangible personal property which is deposited or otherwise
actually delivered into possession of a pawnbroker in the course of
his/her business in connection with a pawn transaction.
A.
No person
shall operate a pawnshop unless such person obtains a municipal pawnshop
license issued pursuant to this Section. To be eligible for a pawnshop
license, an applicant shall:
1.
Be of
good moral character;
2.
Have
net assets of at least fifty thousand dollars ($50,000.00) readily
available for use in conducting business as a pawnshop for each licensed
pawnshop; and
3.
Show
that the pawnshop will be operated lawfully and fairly within the
purposes of Sections 367.011 to 367.060, RSMo.
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Any applicant who has a felony or misdemeanor conviction which
directly relates to the duties and responsibilities of the occupation
of pawnbroker or otherwise makes the applicant presently unfit for
a pawnshop license shall not be eligible for a pawnshop license.
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B.
If the
City is unable to verify that the applicant meets the net assets requirement
for a licensed pawnshop, the City may require a finding, including
the presentation of a current balance sheet, by an independent certified
public accountant that the accountant has reviewed the books and records
of the applicant and that the applicant meets the net assets requirement
of this Section.
C.
An application
for a new pawnshop license, the transfer of an existing pawnshop license
or the approval of a change in the ownership of a licensed pawnshop
shall be under oath and shall state the full name and place of residence
of the applicant, the place where the business is to be conducted,
and other relevant information required by the City. If the applicant
is a partnership, the City may require that the application state
the full name and address of each member. If the applicant is a corporation,
the application shall state the full name and address of each officer,
shareholder, and director. The application shall be accompanied by:
1.
An investigation
fee of five hundred dollars ($500.00) if the applicant is unlicensed
at the time of applying for the pawnshop license or two hundred fifty
dollars ($250.00) if the application involves a second (2nd) or additional
license to an applicant previously licensed for a separate location
or involves substantially identical principals and owners of a licensed
pawnshop at a separate location; and
2.
Proof
of general liability, if required by the City, and an annual fee of
five hundred dollars ($500.00).
D.
Each
applicant for a pawnshop license at the time of filing application
shall file with the City a bond satisfactory to it and in an amount
not to exceed five thousand dollars ($5,000.00) for each license with
a surety company qualified to do business in this City. The aggregate
liability of such surety shall not exceed the amount stated in the
bond. The bond shall run to the City for the use of the City and of
any person or persons who may have a cause of action against the obligor
of such bond under the provisions of Sections 367.011 to 367.060,
RSMo. Such bond shall be conditioned that the obligor will comply
with the provisions of Sections 367.011 to 367.060, RSMo., and of
all rules and regulations lawfully made by the City, and will pay
to the City and State to any such person or persons any and all amounts
of money that may become due or owing to the City or to such person
or persons from such obligor under and by virtue of the provisions
of Sections 367.011 to 367.060, RSMo., during the time such bond is
in effect.
E.
Each
licensee shall keep, consistent with accepted accounting practices,
adequate books and records relating to the licensee's pawn transactions,
which books and records shall be preserved for a period of at least
two years from the date of the last transaction recorded therein.
F.
No person who is lawfully operating a pawnshop on August 28, 1990, shall be required to obtain a license under this Section in order to continue operating such pawnshop, so long as such person does not violate any other provision of Sections 367.011 to 367.060, RSMo., except that, if such person is required by the City to have an occupational license, such person shall be required to pay the five hundred dollar ($500.00) annual fee prescribed in Subdivision (2) of Subsection (C) of this Section in lieu of any City occupational license fee.
G.
In addition
to the other requirements of this Section for licensure, no license
shall be issued under this Section on or after May 20, 1994, for the
initial operation of a pawnshop if such pawnshop is to be located
within one-half (½) mile of a site where an excursion gambling
boat dock or facility is located or within one-half (½) mile
of a site where an application for such an excursion gambling boat
dock or facility is on file with the Gaming Commission prior to the
date the application for the pawnshop license is filed. The provisions
of this Subsection shall not prohibit a pawnshop from being located
within one-half (½) mile of a dock or facility or proposed
dock or facility described in this Subsection if the license for such
pawnshop has been issued prior to May 20, 1994.
[Ord. No. 1600 §4, 9-26-1995]
No pawnbroker shall charge or receive more than two percent
(2%) per month on any loan.
[Ord. No. 1600 §5, 9-26-1995]
No pawnbroker or any employee of such pawnbroker shall buy,
receive or take any personal property, goods, wares or merchandise
from any minor or have in possession any personal property, goods,
wares or merchandise so had and obtained.
[Ord. No. 1600 §6, 9-26-1995]
A.
Required Contents. Every pawnbroker shall keep a register
of all loans and purchases of articles made or effected by him/her,
which register shall show and include:
1.
The
name and address of the pawnshop.
2.
The
name, age, sex, race and address of the pledgor, the pledgor's description
and the driver's license number, military identification number, identification
certification number or other official number capable of identifying
the pledgor.
3.
The
date of the transaction.
4.
A detailed
identification and description of the pledged goods, including serial
numbers if reasonably available.
5.
The
amount of cash advanced or credit extended to the pledgor.
6.
The
amount of the pawn service charge.
7.
The
total amount which must be paid to redeem the pledged goods on the
maturity date.
8.
The
maturity date of the pawn transaction.
9.
A statement
to the effect that the pledgor is not obligated to redeem the pledged
goods and that the pledged goods may be forfeited to the pawnbroker
sixty (60) days after the specified maturity date.
10.
A
statement that the pawnshop has verified pledgor's identity by requiring
presentation by pledgor of an official picture identification card.
B.
Inspection. The register shall at all times be open to the
inspection of commissioned Police Officers of the City of Eldon, Missouri,
Police Department.
C.
Time Of Maintenance. The register of all loans and purchases
shall be maintained at the place of business for a period of two (2)
years after the date the transaction occurred.
[Ord. No. 1600 §7, 9-26-1995]
In addition to keeping the register, every pawnbroker shall
give the person depositing or selling any property a plainly written,
typed or printed receipt for the article deposited or purchased, having
thereon a copy of the entries required herein to be kept in his/her
register.
[Ord. No. 1600 §8, 9-26-1995]
In case the person obtaining the loan fails to pay the interest
or principal when due, the pawnbroker shall not sell the article pawned
with him/her as security for such loan until the expiration of sixty
(60) days from the date of such failure. The person so failing may
at any time within the sixty (60) days redeem the article if he/she
pays the full amount of principal and interest due at the date of
such redemption according to the terms of the contract. If the person
obtaining the loan fails to redeem the article within the sixty (60)
days, he/she shall thereby forfeit all his/her right, title and interest
in and to such article to the pawnbroker who shall thereby acquire
and possess an absolute right in and to them to hold and dispose of
them as his/her own property.