CHAPTER 116
PAWNBROKERS, SECOND HAND DEALERS, PRECIOUS METALS AND STONES DEALERS AND VALUABLE METALS DEALERS
Section
116.07 Annual license/renewal fees
Statutory Reference:
Pawnbroker Law: See I.C. 28-7-5-1 et seq.
Powers of Police: See I.C. 36-8-3-10
Power of City to Regulate Crafts: See I.C. 36-8-2-10
Precious Metals: See I.C. 23-2-6-15
Valuable Metals: See I.C. 25-37.5-1-0.6
116.01 DEFINITIONS.
For the purposes of this chapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
PAWNBROKER means any person, partnership, association, limited liability company, or corporation lending money on the deposit or pledge of personal property, or who deals in the purchase of personal property on the condition of selling the property back again at a stipulated price, other than choses in action, securities, or printed evidence of indebtedness.
PRECIOUS METALS AND STONES DEALER means any person engaged in the business of purchasing and reselling valuable items containing precious metals or stones, including but not limited to silver, gold and platinum or containing gems including, but not limited to, diamonds, rubies, or emeralds either at a permanently established place of business or in connection with a business of an itinerant nature, including junk shops, junk stores, antique dealers, secondhand stores or flea markets.
SECOND HAND DEALER means any person who purchases second hand property of any description for the purposes of dealing in the same and reselling same.
VALUABLE METALS means copper, lead, titanium, stainless steel, copper alloy or brass, formed as a bar, cable, rod, tubing, wire, wire scrap, clamp, connector, bushing, or bearing or other appurtenances utilized or that can be utilized by persons, firms, corporations, or municipal corporations engaged in either the generation, transmission or distribution of electric energy, in telephone, telegraph or other communications, or by railroads, or any copper, copper alloy or brass, or aluminum materials utilized for the purpose of plumbing, storm doors, windows, siding, or gutters of building structures or automotive parts.
VALUABLE METALS DEALER. As used in this chapter, VALUABLE METALS DEALER means any individual, firm, corporation, limited liability company, or partnership engaged in the business of purchasing and reselling valuable metal either at a permanently established place of business or in connection with a business of an itinerant nature, including junk shops, junk yards, junk stores, auto wreckers, scrap metal dealers or processors, salvage yards, collectors of or dealers in junk, and junk carts or trucks.
(Ord. 07-2014, passed 2-24-2014)
116.02 SALES IN GENERAL.
(A) No personal property shall be accepted as collateral security or for purchase if such property normally bears a manufacturer’s serial number or other identifying insignia and such identification is not plainly visible on the personal property being offered as collateral or for purchase.
(B) All goods or articles received by any proprietor, manager or employee of any licensed pawnbroker, second hand dealer, precious metals and stones dealer, or valuable metals dealer shall be retained at the place of business of the licensed dealer, by the proprietor, manager, or employee for a period of not less than 24 hours after the transaction has been electronically transmitted to the Rensselaer Police Department before any such goods or articles may be disposed of or sold.
(Ord. 07-2014, passed 2-24-2014)
116.03 RECORD OF TRANSACTIONS.
(A) Every pawnbroker, second hand dealer, precious metals and stones dealer, and valuable metals dealer shall keep record and preserve data electronically through a computer data system as stipulated by the Rensselaer Police Department. Each record of transaction occurring at the place of business must include:
(1) The name, date of birth and address of the seller. If the sale is conducted by an agent of the property owner, the person acting as agent must disclose the name, date of birth, and address of both principal and agent.
(2) The name, address and phone number of the pawnbroker, second hand dealer, precious metals and stones dealer, and valuable metals dealer.
(3) The data of the transaction.
(4) The amount of the loan.
(5) The article or articles pledged, a description of the articles to include manufacturer’s serial numbers or other identifying insignias. However, if multiple articles of a similar nature that do not contain an identification or serial number (such as precious metals, gemstones, musical recordings, video recordings, books, or hand tools) are delivered together in one transaction the description of the articles is adequate if the description contains the quantity of the articles delivered and a physical description of the type of articles delivered, including any other unique identifying marks, numbers, names, letters, or special features.
(6) The type of government issued identification used to verify the identity of the seller, together with the name of the governmental agency that issued the identification, and the identification number present on the government issued identification. A legible photo copy of the identification must be recorded.
(7) The method of recording data must be recorded in electronic or computerized format as established by the Rensselaer Police Department. Electronic or computerized data must be preserved by the business on the business premises for a period of two years from the date of the transaction.
(Ord. 07-2014, passed 2-24-2014)
116.04 REPORT OF TRANSACTIONS.
Every pawnbroker, second hand dealer, precious metals and stones dealer, and valuable metals dealer shall submit to the Rensselaer Police Department each business day, all required data set forth in § 116.03 regarding all transactions at the business during the proceeding 24-hour period of operation. The data shall be submitted via electronic format as stipulated by the Rensselaer Police Department.
(Ord. 07-2014, passed 2-24-2014)
116.05 INSPECTIONS.
The computerized data entry of all transactions recorded at the place of business shall be open at all times during business hours for inspection by the Chief of Police or any member of the Rensselaer Police Department as authorized by the Chief of Police to examine such records.
The electronic media storing the computerized data and/or a print out of the transactions shall be subject to removal by the Chief of Police and/or designee for inspection, examination, and/or investigation purposes. The electronic media shall be stored at the Rensselaer Police Department.
(Ord. 07-2014, passed 2-24-2014)
116.06 NECESSITY OF LICENSE.
No person shall engage in business as a pawnbroker, second hand dealer, precious metals and stones dealer, or valuable metals dealer except as authorized by this chapter and without first obtaining a license from the City of Rensselaer as provided in § 116.07.
(Ord. 07-2014, passed 2-24-2014)
116.07 ANNUAL LICENSE/RENEWAL FEES.
(A) The annual license fee payable to the City of Rensselaer by each pawnbroker, second hand dealer, precious metals and stones dealer and valuable metals dealer for any license issued under the provision of this chapter shall be $25. A business having more than one location must have a separate license for each location. Licenses are nontransferable.
(B) License fees shall be due annually on the date the license was first issued under this subchapter. The fee shall be remitted to the Rensselaer Police Department.
(Ord. 07-2014, passed 2-24-2014)
116.08 EXCEPTIONS.
Transactions between a pawnbroker, second hand dealer, precious metals and stones dealer, or valuable metals dealer and a not-for-profit organization shall be excluded from the sales, record keeping and reporting requirements outlined in §§ 116.02, 116.03 and 116.04.
All business entities, properly registered as nonprofit organizations with the Internal Revenue Service, will obtain exempt status upon providing the necessary Federal Tax ID number and other business entity documentation defining its nature and existence.
(Ord. 07-2014, passed 2-24-2014)