Ordinance 1854-92 - Laserfiche WebLink

the grace period, the pawnbroker shall have all rights, title, and interest of that item of personal property. The pawnbroker shall not be required to account to the pledgor for the proceeds received from the disposition of that item. Any provision of law relating to foreclosures and the subsequent sale of forfeited pledged items, shall not be applicable to any pledge as defined under this chapter, the title to which is transferred in accordance with this section. B. Every transaction entered into by a pawnbroker shall be evidenced by a written document, a copy of which shall be furnished to the pledgor. The document shall set forth the term of the loan, the date on which the loan is due and payable, and shall inform the pledgor of the pledgor's right to redeem the pledge within sixty days after the expiration of the loan term. Section 8 : Section 13 of Ordinance No. 1050-84 (EMC 5 . 32 . 130) , which reads as follows: Penalties The violation of any provision of this chapter shall constitute a criminal offense and shall be punished by a fine of five thousand dollars and/or one year in jail. It shall also be a violation of this chapter for: 1. Any person to remove, alter, or obliterate any manufacturer's make, model, or serial number, personal identification number, or identifying marks engraved or etched upon an item of personal property that was purchased, consigned, or received in pledge; 2 . Any person to knowingly make, cause or allow to be made any false entry or misstatement of any material matter in any book, record, or writing required to be kept under this chapter; 3 . Any pawnbroker or secondhand dealer to receive any property from any person under the age of eighteen years, any person under the influence of intoxicating liquor or drugs, or any person known to the pawnbroker or secondhand dealer as having been convicted of burglary, robbery, theft, or possession of 11