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AN ORDINANCE PROVIDING FOR
THE "REGULATION OF PAWN BROKERS
3 -10 -1
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A. No person shall exercise, carry on or engage in
the (trade or business of pawn broker within the City of
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Prior fake without first having obtained a license to do
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so in conformance with the provisions of this,,chapter.
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B. For purposesof this ordinance, a pawn broker
is a person who loans on deposit or pledge of personal pro-
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perty, or other valuable thing on condition of selling the
same back again at a stipulatedprice,, or who loans moneys"
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seoured'by a chattel mortgage on personal property, taking
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possession of the property"or any pant thereof so mortgaged.
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C':i The annual license, "fee for a pawn broker's lic-
ense shall be determined by the City Council.
D. Before such ; person shall be licensed ,to conduct,
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such broker's business in said City, application.there-
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for must"be made to the City Manager. A copy of the'appli-
cation for stash 1' cerise " shall ie delivered to tfie Chief
,of °'Police or'an; officer duly detailed by him for such pu. ^ -
pose who shall investigate the applicant and report the
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results of such investigation to the Chief of Police; who *,
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shall make a- recommendation for the approval or disapproval
of such;;applcation to said City Manager; provided, however,
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that noperson shall, be licensed hereunder who has' °been
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convicted of havi' o4 received stolen gods or of any nfrac-
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tiori of.the terms "and provisions of this .section or of any
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of the ordinances of the City,of Prior Lake regulating the
business of .pawns brokering; provided further, that in deny-
ing any ,license hereunder based upon such conviction, the
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City Manager shall follow the procedures in these chapters
and in Minnesota Laws, 1974, chapter 298.
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E. Bond. Before an
.; y person shall be licensed .. as a
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pawn broker, such applicant shall file a bond in the sum
of $2,000.00 with a duly authorized surety company as surety
thereon, such surety bond to be approved by the City Mana-
ger and said bond to be approved as to form and executian�
by the City Attorney
y; a condition of said bo�;;d shall be =
that such licensee shall observe the ordinance of said city
in relation to the business of a pawn broker and that such
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licensee will conduct said business in conformity therewith
anc3 will.account for and deliver to an y person legally en-
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titled thereto any goods, wares or merchandise, article tih
or thing which may _have`come into the Possession of such
licensee as pawn broker or in lieu thereof such licensee
shall pay 'n money to such person or person`�the reasonable
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value thereof..
F . Records.
.(Ledger Number One). Every person licensed under
the terms hereof shall keep a ledger in which shall be led-,
gi'bly w„ritt;en in ink. at the time of each loan or purchase,
an accurate account or description in the English language
of , the goods, articles or other things deposited, left;
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sold or purchased, pledged or pawned, the amount of money
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loaned ° upon or pledged therefor, the time of the receipt
of samei, the name,, residence, and a picture of the person
pawning, pledgino", selling, leaving or depositing the tame,
and /cif the article be a watch or other goods of gold or
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silver manufacture, the ",number or numbers, stamped, impress-,
ed or engraved thereto, together with the name of the manu-
facturer of the same, if,such name is placed in any posi-
tion or any way upon such goods or article, and such entry
as above described shall be regularly numbered; and the
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ledger in this section referred to shall. be referred to
as Ledger Number One and shall be &L all reasonable"times
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open to "the inspection of any member of the Police Depart
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ment of the City of Prior Lake.
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2. (Receipt Book). Every person licensed -under the
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terms hereof shall deliver to the person pawning,, pledging,
sell,�ng, leaving or` depositing any goods, articles or
things, a, certificate number to correspond with the entry
in Ledger Number 'One, which said certificate: contain
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the substance of entry.
3. (Ledger Number Two Each person 'licensed under
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the ;terms hereof shall „keep a, ledger to be called Ledger
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'umber Two, wherein shalt'be'entered an accurate and cor-
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ect account of all safes of goods, articles or,things��sold
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or dispo!6te'd of by him which may have originally been Aepd's
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, ited, , left with' or -sold oto or purchased by `or, pl.edgcd :'or ,
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pa�tned alto 2�a.m, wherein shall be ,marked u� on properly =num� -'
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bered. together with a,nroper reference number of the
entry in,Ledger Number One and an, account of ,such sale,
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wit`h the date the reof and the.,amount for,which the same
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4 was sold,.,and the ledgt!',?' in' this ;section referred to shall
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be at all reasonable time open to the, inspection of any
member of the Police Department of the 'City of Pro
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4. (Reports t6 Police:),. Each person ,Licensed u':indL
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the terms hereof' makit out and deliver. the Chief
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of Police .everyday, ,.before the, hour of l2:OCf noon, a legible
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- } .correct and complete copy from each oaf`, the 'ledgers.. herein
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before required, and a true and correct account of all per-
sonal property other valuables reeeved deposited,
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purL*haseIC,' pledged,. or pawned as indicated in Ledger �
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One, or sold or o,therwis of, as .Indiga.ted in Le-d-
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ger Numbe Two, ,luring irhe r preL edng'day, ad, s4i.d report”
`and" 'descr,iptIon . shall be signed by the person giving ;;it
to the Chief of Po ", afid `shall be delivered in person
by the person making said report to said Chief of Police
or t,o' an officer duly detailed by; said CY ief of Police for
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such 'purposes when the S is required by '' said Chief of
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Polid'e. Provided, however, that no person shall 'requ %red.
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to furnish. such desctiptioris of any property purchased from
manufacturers and wholesale dealers having an established
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place of business, or of any goads purchased at an open
y t stock, or from an other person sale from an bankrupt y
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;?ng business and having an established place of business,
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but an y goods in this proviso referred to must be accompan-
� _Iiz, -,by a bill of, 'sale'' o.r other evidence of open or legiti-
mate purchase, and must be shown to the Chief ,of Police,. j x
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or any,- of'the Department, when so demanded..
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5. (Ninety -day Redemption). Any person pledging,
pawning or depositing an article for security shall have
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ninety ,(90) days from. the date 'when the loan or pledge be-
comes due and payable to redeem the same before the same
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becomes' Forfeitable..
6. '(Redemption Limi ). No personal property on depo-
sit with any licensee under, the terms hereof, nor property
purrchased " or sold to or any other way coming into the
possession and under the control of any licensee hereunder
In the due caurse of said business shall be permitted to
be redeemed from the place of business, of such licensee`
for .a period of seventy --two (72) hours nor shall ' such pro_ -
a
perty be sold within ten,(10) days after the copy.and state
ment required. to be delivered, to the Chief of Police shall
have been 'delive:red as herein. before required.
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7. ( Police Restrictions on.Sale). Whenever the.,Chief
of Po lice shall noti'fyoany licensee her not to sell
or permit to be redeemed any goods or articles received
on ` deposit or purchase by such licensee, such, goo or ar-
titles shall` not be• °permitted to be rede'em+ed, nor sh all
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the same be sold until such time as may be determ,i,ned by
the Chief'of Police provided that such time shall in no
case exceed the period of six (6) months from, th,e date., of
such notification.
8.- (Advertising). no person shall hereafter exhibit .
or maintain any sign usually mown as a pawn beaker's sign,
such as "three balls ", or any number of"balls, or in any
❑uar"lner advertise to loan money on'deposit,orr' pledge• of per -``
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sonal property or other valuable thing, `without first hav-
ing obtained & license as=)provi.ded, herein; and non- ;compli-
ance with the te rms of this section will be prima facie
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evidence of the fact that a pawn brokers` business is being
prosecuted and carried on.-
9; (Report of Stolen or Lost Goods). If�any goods,
articles: or things shall be advertised in,any public news-
paper as having been lost, or stolen and such goods arti-
cles or things, shall be, or shall thereafter come into the'
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possession of any licensee under the terms.hereof, said
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licensee shall, upon actual notice hereof, immediately
thereafter, as ° a supplement to said licenseel-_C Lfor
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that day to the Chief of Police give inforMation in writing
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that ..certain goods, articles or thi;ngs'advertised are in
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said licensee' possession and shall not thereafter dispose
of same except upon written authority;to do so from the
r� Chief of..Police.
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10. (Altered Serial Numbers). Any person. ?1;icensed
under this Ordinance shall immediately report to the Prior
Lake Police Department any attempt to sell, trade or --
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ter any merchandise with a serial number that has been re
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moved, altered, obliterated or otherwise defaced according
to Minnesota State Statutes.
G. Hours - juveniles. No person licensed under the
terms °hereof shall keep this office or store open for the
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transaction of business on any day of the week before 7:00
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o'clock in the morning, after - 10::00 o'clock•in the even-
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ing, nor whall any person licensed under the terms.hereof
purchase or receive personal property of any nature on de-
posit or pledge from any juvenile, as defined by law.
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H. Inspection.
1. Any person licensed under the provisions of this
section shall, at all times during the terms of said lic -'
b�
ense, allow the Officers of the Prior Lake Police Depart
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rnent to enter the premises where said licensee is carrying
on such business, for the purpose of inspecting,such pre ^'
mises and inspecting the goods, wares and merchandise there:-
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in for the purpose of locating goods suspected of ^_alleged
tt to have been stolen or otherwise improperly, disposed of.
2. ' All ,goods, wares or merchandise- coming into the
possession of any licensee under the terms hereof shall
% at all times be open to the inspection and right of exami*na-
tion of any person claiming to have been the owner thereof,,
or claiming to have had any interest therein, when such
person is accompanied by a ''Police Officer of the City.of
Prior Lake; nor shall any licensee - ..under the terms hereof
hide, conceal or stow away any article in his possession
' from any member of the Police Department of the City of
Prior Lake.
I. Maximum Laan or Pledge Interest and Charges
I. The maximum loan or pledge that a pawn ^
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b4-oker may, contract "for shall not exceed 15; 0.00 .
2. The maximum combined interest rate, storage,
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charge, handling charge; or surcharge that a licensed.pawn
w broker shall contract for on.,any loan or pledge shall not
exceed a total of. ten per (10 %) of the unpaid balance,
cent
of th .,
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e principal amount of the loan or pledge for each suc' -,
cessve thirty•(30) day period that the loan or pledge is
in effect. Interest shall not be payable in advance or com- ,
pounded.
ak 3 No term of writing may pro,�ride for the, payment �.
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by the debtor,,of attorneys fees'. �
Penalty. Any person violating any provision of
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this
ordinance shall be guilty
of a
misdemeanor and
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be puris4ed by a fine not
to exceed
$500.00 or by imprison
ment
not to exceed ninety
: (90)
days,
or both.
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The City of Prior�Lake -by its
City Council wishes to advise
that an Ordinance # 3- 10 -1,, Title;
3, Chapter 10, which amends the -
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Prior Lake City Code has-been adopted
and a copy of said Ordinance is
,attached hereto. -
Said,Ordinance shall become in
full ' force and effect upon
'the date of adoption.,
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Michael A. McGuire
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City Manager of Prior Lake
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Wal A. Stock,'Mayor
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pRAFTEU ;BY.
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" LOMMEN;,,;,NELSOH, ,SULLIVAN &�' COLE
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1120 TOE Taxer
,. Mi n.peapol'i s , Mi . 55402
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