[HISTORY: Adopted by the Council of the City of New Rochelle as Secs. 6-19 through 6-19.07 of the 1965 General Ordinances; amended in its entirety at time of adoption of Code; see Ch. 1, General Provisions. Subsequent amendments noted where applicable.]
As used in this chapter, the following terms shall have the meanings indicated:
- PAWNBROKER or COLLATERAL LOAN BROKER
- Any person who:
- A. Loans money on deposit or pledge of personal property, other than securities or printed evidence of indebtedness;
- B. Deals in the purchasing of personal property on condition of selling back at a stipulated price; or
- C. Designates or does business as furniture storage warehouseman, and loans and advances money upon goods, wares or merchandise pledged or deposited as collateral security.
No person shall conduct the business of a pawnbroker or collateral loan broker without having obtained a license therefor from the City Clerk.
The annual license fee for each pawnbroker or collateral loan broker shall be as set forth in Chapter 133, Fees, and every such pawnbroker or collateral loan broker shall give a bond to the City with at least two sufficient sureties who shall be residents and freeholders of the City or of a surety company to be approved by the City Clerk in the penal sum of $1,000, conditioned for the faithful performance of the duties and obligations pertaining to the business so licensed.
Before said license shall be issued, the application shall be approved in writing as to the character of the applicant by the Commissioner of Police.
All licenses issued pursuant to this chapter shall be for the period of one year, said period starting at any time and terminating one year therefrom.
Entries to be made in book. Every pawnbroker or collateral loan broker shall keep a book in which shall be legibly written, at the time of such loan, an account and description of the goods, articles or things pawned or pledged, the amount of money loaned thereon, the time of the pledging the same, the rate of interest to be paid on said loan and the name and residence of the person pawning or pledging the said goods, articles or things.
Memorandum to be given. Every pawnbroker or collateral loan broker shall, at the time of each loan, deliver to the person pawning or pledging any goods, articles or things a memorandum or note signed by him containing the substance of the entry required to be made in his book by this section, and no charge shall be made or received by any pawnbroker or collateral loan broker for any such entry, memorandum or note. The holder of such memorandum or note shall be presumed to be the person entitled to redeem the pledge, and the pawnbroker or collateral loan broker shall deliver such article to the person so presenting such memorandum or note on payment of principal and interest. Should such ticket be lost or mislaid, the pawner shall at once apply to the pawnbroker or collateral loan broker, in which case it shall be the duty of the pawnbroker or collateral loan broker to permit such person to examine his books and on finding the entry for said ticket, note or memorandum so lost, and upon his giving to the pawnbroker or collateral loan broker an exact description of the article pawned, the pawnbroker or collateral loan broker shall issue a second or stop ticket for the same. In case such pawner neglects to so apply and examine said books and receive such memorandum or note in the manner above-stated, the pawnbroker or collateral loan broker will be bound to deliver the pledge to any person producing such ticket for the redemption thereof. This section is not to be construed as in any manner limiting or affecting such pawnbroker's or collateral loan broker's common law liability in cases where goods are stolen or other legal defects of title exist in the pledger.
In the application for the license, the applicant shall designate the place where he intends to carry on the business of pawnbroker or collateral loan broker, and the license shall designate said place of business, and no pawnbroker or collateral loan broker shall carry on business in any other place than the one designated in said license. The license shall be prominently displayed in said place of business.
No pawnbroker or collateral loan broker shall purchase any secondhand furniture, metals, clothing or other article or thing whatever offered to him as a pawn or pledge, nor shall he engage in any secondhand or junk business, nor receive in pawn or as a pledge any instrument or weapon mentioned in § 265.00 of the Penal Law of the State of New York.
Sale prohibited within one year. No pawnbroker or collateral loan broker shall sell any pawn or pledge until the same shall have remained one year in his possession, and all such sales shall be held at public auction and not otherwise and shall be conducted by a licensed auctioneer.
Notice of sale. No pledge shall be sold unless written or printed intention to sell with a statement of article or articles to be sold has been first mailed by letter addressed to the pledger at the address given at the time of pledging at least 10 days prior to the date of sale. Notice of every such sale shall be published for at least six days previous thereto in the official newspaper of the City of New Rochelle, and such sale shall take place within the City of New Rochelle. The notice of sale shall specify the time and place at which said sale is to take place, the name of the auctioneer by whom the sale is to be conducted, a statement of the classes of pledges to be sold and the inclusive dates and numbers of the pawn tickets of the pledges to be sold. If the pledge at such sale shall be purchased by the pawnbroker or collateral loan broker, the pledger shall be entitled to redeem the same within 10 days thereafter by tendering to the pawnbroker or collateral loan broker the amount of the loan with the interest due thereon.
Disposition of proceeds. The surplus money, if any, arising from any such sale, after deducting the amount of the loan, the interest then due on the same and the expense of the advertisement and sale shall be paid over by the pawnbroker or collateral loan broker to the person who would be entitled to redeem the pledge in case no such sale had taken place.
An offense against the provisions of this chapter shall be punishable by a fine of not more than $250 or by imprisonment for not more than 15 days, or both.