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SEC. 14.295.23. RESTRICTIONS REGARDING LICENSE TRANSFER. • Each license under this Division shall be issued to the applicant only and shall not be transferable to any other person. No licensee shall loan, sell, give or assign a license to another person. (Added by Ord. No. 91-14, 2-25-91) SEC. 14.295.24. SUSPENSION OR REVOCATION OF LICENSE. (a) The City Council may suspend or revoke a license issued under this Division upon a finding of a violation of: (1) any of the provisions of this Division; (2) any state statute regulating pawnbrokers or precious metal dealers; or (3) any state or local law relating to moral character and repute. Any conviction by the pawnbroker or precious metal dealer for theft, receiving stolen property, or any other crime or violation involving stolen property shall result in the immediate suspension pending a hearing on revocation of any license issued hereunder. (b) Except in the case of a suspension pending a hearing on revocation, a revocation or suspension by the City Council shall be preceded by written notice to the licensee and a public hearing. The written notice shall give at least eight (8) days' notice of the time and place of the hearing and shall state the nature of the charges against the pawnbroker or precious metal dealer. The Council may, without any notice, suspend any license pending a hearing on revocation for a period not exceeding thirty (30) days. The notice may be served upon the pawnbroker or precious metal dealer by United States mail addressed to the most recent address of the business in the license application. (Added by Ord. No. 91-14, 2-25-91) SEC. 14.x;5. 3. PROHIBITED ACTS. • (a) No pawnbroker licensed under this Division shall: (1) Lend money on a pledge at a rate of interest above that allowed by law; (2) Possess stolen goods; (3) Sell pledged goods before the time to redeem has expired; (4) Refuse to disclose to the pledger, after having sold pledged goods, the name of the purchaser or the price for which the item sold; (5) Make a loan on a pledge to a minor. (b) No precious metal dealer licensed under this Division shall: (1) Possess stolen goods; or (2) Purchase property from a minor. (Added by Ord. No. 91-14, 2-25-91) SEC. 14.295.25.01. SEVERABILITY. If any section, subsection, sentence, clause, or phrase of this Division is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this Division. The City Council hereby declares that it would have adopted this Division and each section, subsection, sentences, clause, or phrase thereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses, or phrases be declared invalid. (Added by Ord. No. 93-51, 12-13-93) SEC. 14.295.25.02. PENALTY. A violation of this Division shall be a misdemeanor under Minnesota law. • (Added by Ord. No. 93-51, 12-13-93)