Agenda - Council - 01/22/2002 - Laserfiche WebLink

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7.13.02 General Subdivision 1. Purpose. The Council finds that pawnbrokers potentially provide an opportunity for the commission of crimes and their concealment because such ~.,;i,~es:~c~ ha'/e the ability to receive and transfer stolen proper:y easily and quickly. The Council also finds that consumer protection regulation is warranted in transactions involving pa,ambrokers. The purpose of this Section is therefore to prevent pawnbroking from being used as facilities for commission of crimes and to assure that such businesses comply with basic consumer protection standards, thereby protecting the public health, safety, and general we}fare of the citizens of the City. Provisions of State Law Adopted. The provisions of Minnesota Statutes Chapter 325J and as amended from time to time are hereby adopted by reference as if fully set forth at this point. 325J.11 PAWNqBROKER REGUIakTION 325J.11 VIOLATION. A violation of this chapter by a pawnbroker or pledgor is a misdemeanor. Itistory: I996 c 404 s 12 7.13.04 Records Required. At the time of any reportable transaction other than renewals, extensions or redemptions, every licensee must immediately record in English, the following information by using ink or other indelible medium on forms or in a computerized record approved by thc City's Police Chief. A complete and accurate description of each item including, but not limited to, any trademark, identification number, serial number, model number, brand name, or other identifying mark on such an item. b. The purchase price, amount of money loaned upon, or pledged therefore. c. The maturity date of the transaction and the amount due, including monthly and annual interest rates and all pawn fees and charges. d. Date, time and place the item of property was received by the licensee, and the unique alpha and/or numeric transaction identifier that distinguishes it from all other transactions in the licensee's records. Full name, residence address, residence telephone number, date of birth and accurate description of the person from whom the item of the property was received, including: sex, height, weight, race, color of eyes and color of hair. The identification number and state of issue from any of the following forms of identification of the seller: 1. Current valid Minnesota driver's license. 2. Current valid Minnesota identification card. 3. Current valid photo identification card issued by another state. g. The signature of the person identified in the transaction. h. Renewals~ extensions and redemptions. For renewals, extensions and redemptions, the licensee shall provide the original transaction identifier, the date of the current transaction, and the type of transaction. 7.13.12 Revocation of License. Pursuant to {37.01.08, any violation of the terms of this Section or any provision of the City Code shall be grounds for suspension and/or revocation of the license issued pursuant to this Section. A license may be suspended and/or revoked by the Council only for cause and only after adequate notice to the licensee with the full opportunity for the licensee to be heard.