[Ord. No. 1801 §I, 9-2-2008]
For the purposes of this Chapter, the following terms shall
have the meanings assigned to them by this Section, unless the context
of their use in this Chapter clearly requires otherwise:
Any used item acquired for resale, which is of a class of
merchandise or commodity that includes, but is not limited to, automobile
parts and accessories, wearing apparel, furniture, plumbing and construction
materials, household appliances, musical instruments, sporting equipment,
glassware, poles, wire and scrap metal.
Any person who manages, directs, administers or is in charge
of the affairs and/or conduct of any portion of a pawnshop.
That period of time from one (1) date in a calendar month
to the corresponding date in the following calendar month, but if
there is no such corresponding date, then the last day of such following
month and when computations are made for a fraction of a month, a
day shall be one-thirtieth (1/30) of a month.
The book value of the current assets of a person or personal
credit loan agency less its applicable liabilities as stated herein.
Current assets include the investment made in cash, deposits, merchandise
inventory and loans due from customers excluding the pawn service
charge. Current assets do not include the investments made in fixed
assets of real estate, furniture, fixtures or equipment; investments
made in stocks, bonds or other securities; or investments made in
prepaid expenses or other general intangibles. Applicable liabilities
include trade or other accounts payable; accrued sales, income or
other taxes; accrued expenses; and notes or other payables that are
unsecured or secured in whole or in part by current assets. Applicable
liabilities do not include liabilities secured by assets other than
current assets. Net assets must be represented by a capital investment
unencumbered by any liens or other encumbrances or be subject to the
claims of general creditors.
The proprietor, if a sole proprietorship; all partners (general
and limited), if a partnership; or all officers, directors and persons
holding ten percent (10%) or more of the outstanding shares of a corporation.
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 a premises in which a pawnbroker
regularly conducts business.
An individual, partnership, corporation, joint venture, trust,
association or any other legal entity, however organized.
In addition to other factors making a person of good moral
character, a person who has not been convicted of a felony or released
from confinement for conviction of a felony, whichever event is later,
within five (5) years immediately preceding the date of application
for license or has not been convicted of a misdemeanor or released
from confinement for conviction of a misdemeanor, whichever event
is later, within two (2) years immediately preceding the date of application
for license, where such felony or misdemeanor involved the operation
of a pawnshop, theft, stealing, robbery, burglary or receipt of stolen
property and related offenses as defined in the Missouri Criminal
Code or similar Statutes or has not been convicted of municipal ordinance
violation or released from confinement for conviction of a municipal
ordinance violation, whichever event is later, within two (2) years
immediately preceding the date of application for license, where such
municipal ordinance violation involved the operation of a pawnshop,
theft, stealing, robbery, burglary or receipt of stolen property.
Tangible personal property other than choses in action, securities
or printed evidences of indebtedness, which property is deposited
with or otherwise actually delivered into the possession of a pawnbroker/personal
credit loan agency in the course of his/her business in connection
with a loan transaction.
Every loan of money made in this State, the payment of which
is secured by a security interest in tangible personal property which
is physically delivered into the hands of the lender at the time of
the making of the loan and which is to be retained by the lender while
the loan is a subsisting obligation.
The fair market retail value of the article at the time and
place of the acquisition of the article by the dealer or, where no
reasonable monetary value can be ascertained, the cost of replacement
of the article. It is expressly provided that value, as used in this
Chapter, shall not be determined by the cost of the article as paid
by the dealer.
[Ord. No. 1801 §I, 9-2-2008]
It shall be the duty of every person licensed as a pawnbroker/personal
credit loan agency under the provisions of this Chapter to make available
to the Chief of Police for inspection, at any reasonable time requested
by the Chief of Police, daily pawn or loan records obtained by the
licensee for each and every transaction that shall occur at the licensed
premises. No person shall be required to furnish any such records
of property purchased from manufacturers or wholesale dealers having
an established place of business or of any goods purchased upon an
open sale from any bankrupt stock or from any other person having
an established place of business, but such purchased goods must be
accompanied by a bill of sale or other evidence of open and legitimate
purchase and must be verified as such to the Chief of Police when
requested.
[Ord. No. 1801 §I, 9-2-2008]
A.
It shall
be unlawful for any person to operate a pawnshop/personal credit loan
agency unless said business is currently licensed as a pawnshop/personal
credit loan agency issued pursuant to this Chapter and as authorized
by the Revised Statutes of Missouri. To be eligible for a pawnshop/personal
credit loan agency license, an applicant shall:
B.
Every
pawnbroker/personal credit loan agent must obtain a license for each
place where such business is transacted. No one shall act as an agent,
employee or solicitor for any business while such business owner is
engaged in such business at a place other than that specified in the
license.
C.
An application
for a new pawnshop/personal credit loan agency license, the renewal
thereof, the transfer of an existing license or the approval of a
change in the ownership of a licensed business 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 as may be required. If the applicant is a corporation,
the application shall state the full name and address of each officer,
shareholder and director. If the applicant is a partnership, the application
shall state the full name and address of each partner.
D.
A license
shall not be issued to an applicant who is not a person of good moral
character or is otherwise presently unfit for a pawnshop/personal
credit loan agency license.
E.
A satisfactory
public liability insurance policy shall be filed with the City by
the applicant covering all operations of said applicant. The sum of
at least one hundred thousand dollars ($100,000.00) for each person
injured and the sum of at least three hundred thousand dollars ($300,000.00)
in the case of injury to two (2) or more persons in any one (1) occurrence
and the sum of at least one hundred thousand dollars ($100,000.00)
for damage to property shall be provided. Such policy shall provide
that the City shall be notified of any cancellation or alteration
by the insurance carrier within ten (10) days before such cancellation
or alteration becomes effective.
F.
Investigation Fee. Each application for a license shall
be accompanied by an investigation fee of one hundred dollars ($100.00).
[Ord. No. 1801 §I, 9-2-2008]
The license provided for in this Chapter shall designate the
licensed location and shall be posted conspicuously on the premises.
[Ord. No. 1801 §I, 9-2-2008]
Licensee shall pay an annual license fee of one hundred fifty
dollars ($150.00) for each license. All applications for a license
renewal, together with the license fee, shall be presented to the
Finance Office of the City of Warrenton, Missouri.
[Ord. No. 1801 §I, 9-2-2008]
If any pawnbroker/personal credit loan agency or his/her agents,
servants or employees shall violate any of the provisions of this
Chapter or Chapter 367, RSMo., and is finally convicted in any court
of the City or State; fails to comply with the provisions of this
Chapter; or fails to remain a person of good moral character, the
license or licenses issued under this Chapter to said personal credit
loan agency may be suspended or revoked by the Board of Aldermen after
a hearing before the Board of Aldermen. Ten (10) days' written notice
of the hearing to suspend or revoke stating the grounds thereof shall
be delivered to said business owner at his/her place of business as
set forth in any license of said business or by leaving or posting
said notice at said address. The pawnbroker/personal credit loan agent
shall have the right at the hearing to be represented by an attorney,
to cross-examine witnesses, to present evidence and to testify on
his/her own behalf. The hearing shall be held in public at a regular
or specially called meeting of the Board of Aldermen. Upon suspension
or revocation of any license, no license fee paid shall be refunded
to the licensee.
[Ord. No. 1801 §I, 9-2-2008]
A.
After
an investigation, the City shall issue the applicable license authorized
by this Chapter if the City finds:
1.
That
the business for which a license is required herein will be conducted
in a building, structure and location which complies with the requirements
of and meets the standards of the applicable health, zoning, building
code, fire and property maintenance ordinances of the City, as well
as the requirements of this Chapter;
2.
That
the applicant has not made any false, misleading or fraudulent statement
of material fact in the application for a license or in any report
or record required to be filed with the City (as part of the original
license application or application for renewal thereof);
3.
That
the applicant is a person of good moral character; and
4.
That
the applicant has not had a license or permit issued under the provisions
of this Chapter revoked within five (5) years immediately preceding
the application.
[Ord. No. 1801 §I, 9-2-2008]
It shall be unlawful for a pawnshop/personal credit loan agency
owner to not comply with the building codes, zoning, fire, health
and property maintenance ordinances of the City and with regulations
of such departments of the City. Failure to comply with such ordinances
or regulations may be a basis for suspension, revocation or non-renewal
of the license issued to that owner.
[Ord. No. 1801 §I, 9-2-2008]
It shall be the responsibility of the manager or owner to have
on the premises the names, addresses, home telephone numbers, date
and place of birth and Social Security numbers of all current and
former (prior two (2) years) employees.
[Ord. No. 1801 §I, 9-2-2008]
A.
Every
pawnbroker/personal credit loan agency shall keep at his/her place
of business a clean and legible register in which he/she shall enter,
in writing, the following information:
1.
A detailed
description to include, but not be limited to, make, model, serial
number, color, appropriate carat weight, gold content, number and
description of stones and engraving or any unique identifying characteristics
of all property taken, purchased or received, including any number
that may be in or upon any article.
2.
The
time and date acquired and a complete description of the person leaving
or selling the property, giving his/her name, age, race, sex, color
of eyes and hair, weight, height, scars, tattoos or other easily visible
identifying physical characteristics.
3.
The
driver's license number, military identification number, home telephone
number, identifying certificate number or other official number capable
of identifying the person and place of residence, including street
and number or rural route address.
4.
The
amount lent, together with the interest charged and the maturity date
of the loan.
B.
Such
entries shall be made within one (1) hour after the receipt or purchase
of the property. Every entry shall be made in ink and shall not, in
any manner, be erased, obliterated or defaced.
C.
The pawnbroker/personal
credit loan agent shall get from the seller or person pledging the
property a signed document from the seller or person pledging the
property providing that the seller or person pledging the property
has the right to sell the property.
D.
The documentation
information obtained for each transaction by the licensee shall be
open to inspection by the Chief of Police. Every pawnbroker/personal
credit loan agent shall also, upon request, show and exhibit to the
Chief of Police any article under investigation by any Law Enforcement
Agency taken or received by him/her.
[Ord. No. 1801 §I, 9-2-2008]
A.
At the
time of making any secured personal credit loan, a pawnbroker/personal
credit loan agent shall execute and deliver to the borrower a receipt
for and describing the tangible personal property subjected to the
security interest to secure the payment of the loan. The personal
credit loan agent shall keep and maintain for inspection in the same
manner as the register a copy or second (2nd) original of every receipt.
The receipt shall contain the following:
1.
The
name and address of the pawnshop;
2.
The
name, address and date of birth of the pledgor, the pledgor's description
and the driver's license number, military identification number, Social
Security number, identification certificate number or other official
number capable of identifying the pledgor;
3.
The
right index fingerprint of the pledgor for all pledged goods for which
the amount of cash advanced or credit extended to the pledgor exceeds
fifty dollars ($50.00);
4.
The
date and time of transaction;
5.
An identification
and description of the pledged goods, including brand name, model
and serial numbers, if reasonably available;
6.
The
amount of cash advanced or credit extended to the pledgor;
7.
The
amount of the loan service charge;
8.
The
total amount which must be paid to redeem the pledged goods on the
maturity date;
9.
The
maturity date of the loan transaction; and
10.
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/personal credit loan agent sixty (60) days after the specified
maturity date.
B.
If the
pawn ticket is lost, destroyed or stolen, the pledgor may so notify
the lending business in writing and receipt of such notice shall invalidate
such loan ticket, if the pledged goods have not previously been redeemed.
Before delivering the pledged goods or issuing a new loan ticket,
the pawnbroker/personal credit loan agent shall require the pledgor
to make a written affidavit of the loss, destruction or theft of the
ticket. The pawnbroker/personal credit loan agent shall record on
the written statement the identifying information required, the date
the statement is given and the number of the loan ticket lost, destroyed
or stolen. The affidavit shall be signed by a notary public.
C.
Receipt
entries shall be made in ink or indelible pencil and said entries
shall not be erased, obliterated or altered in any way so as to cause
said entries to become illegible.
D.
Receipts
must be maintained in a form which contains a pre-printed, sequential
numbering or lettering system.
E.
An identifying
tag or sticker must be attached to all pledged goods and shall remain
on said pledged goods until redeemed or otherwise disposed of.
F.
Every
pawnbroker/personal credit loan agent shall maintain and shall deliver
or otherwise make available, upon request of the Chief of Police or
any designee, a copy of all receipts.
[Ord. No. 1801 §I, 9-2-2008]
The maximum rate of interest which may be charged for making
and carrying any secured personal credit loan shall not exceed two
percent (2%) per month on the amount of such loan. Pawnbrokers/personal
credit loan agents may also charge for the storage and security of
such pledged property.
[Ord. No. 1801 §I, 9-2-2008]
Each business shall keep, consistent with accepted accounting
practices, adequate books and records relating to the loan transactions,
which books and records shall be preserved for a period of at least
two (2) years from the date of the last transaction recorded therein.
