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Municode Page 2 of 14 <br /> Except as provided in subsection (2)of this definition, the term "pawnbroker" means a person <br /> engaged in whole or in part in the business of lending money on the security of pledged <br /> goods left in pawn, or in the business of purchasing tangible personal property to be left in <br /> pawn on the condition that it may be redeemed or repurchased by the seller for a fixed price <br /> within a fixed period of time. <br /> (2) The following are exempt from the definition of"pawnbroker": any bank regulated by the state, <br /> the comptroller of the currency of the United States, the Federal Deposit Insurance <br /> Corporation, the board of governors of the Federal Reserve System, or any other federal or <br /> state authority and their affiliates; any bank or savings association whose deposits or <br /> accounts are eligible for insurance by the Federal Deposit Insurance Corporation or any <br /> successor to it and all affiliates of those banks and savings associations; any state or <br /> federally chartered credit union; and any industrial loan and thrift company or regulated lender <br /> subject to licensing and regulation by the department of commerce. <br /> Pawnshop means the location at which or premises in which a pawnbroker regularly conducts <br /> business. <br /> Pledged goods means tangible personal property, securities, bank drafts, or printed evidence of <br /> indebtedness that are purchased by, deposited with, or otherwise actually delivered into the possession of <br /> a pawnbroker in connection with a pawn transaction. <br /> (Code 1982, § 724.00) <br /> Cross reference—Definitions generally, § 1-2. <br /> State law reference—Similar provisions, Minn. Stets.§325,1.01. <br /> Sec. 38-292. - Purpose of article. <br /> The city council finds that pawnbrokers potentially provide an opportunity for the commission of <br /> crimes and their concealment because such businesses have the ability to receive and transfer stolen <br /> property easily and quickly. The city council also finds that consumer protection regulation is warranted in <br /> transactions involving pawnbrokers. The purpose of this article is therefore to prevent pawnbroking from <br /> being used as facilities for commission of crimes and to ensure that such businesses comply with basic <br /> consumer protection standards, thereby protecting the public health, safety, and general welfare of the <br /> citizens of the city. <br /> (Code 1982, § 724) <br /> Sec. 38-293. - Responsibility of licensee for acts of employees. <br /> The conduct of agents or employees of a licensee under this article, while engaged in performance <br /> of their duties for their principal or employer under such license, shall be deemed the conduct of the <br /> licensee. <br /> (Code 1982, § 724.18(12)) <br /> Sec. 38-294. - Restrictions on pawning or selling property. <br /> (a) No person may pawn, pledge, sell, leave, or deposit any article of property not his own, nor shall any <br /> person pawn, pledge, sell, leave, or deposit the property of another, whether with permission or <br /> without, nor shall any person pawn, pledge, sell, leave, or deposit any article of property in which <br /> another has a security interest,with any licensee. <br /> (b) No minor may pawn, pledge, sell, leave, or deposit any article of property with any licensee. <br /> http://library.municode.com/print.aspx?h=&clientlD=13427&HTMRequest=http%3 a%2f%2flibr... 10/11/2012 <br />