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ORDINANCE NO. 09 - 96 <br />6. Holding Period for Pawnbrokers. Any item pawned to a pawnbroker <br />for which a report to the Police Department is required under subpart (iii) <br />of this Section shall not be sold or otherwise transferred for 30 days after <br />the date of the pawn. However, an individual may redeem an item pawned <br />72 hours after the item was received on deposit by the pawnbroker <br />excluding Sundays and legal holidays. Any item sold to a pawnbroker for <br />which a report to the Police Department is required shall not be resold or <br />otherwise transferred for seven (7) days after the date of purchase. <br />7. Receipt. The pawnbroker or precious metal dealer shall provide a <br />receipt to the seller or pledger of any item of property received, which <br />shall include: <br />(A) The name, address and telephone number of the pawnbroker or <br />precious metal dealer. <br />(B) The date on which the item was received by the pawnbroker or <br />precious metal dealer. <br />(C) A description of the item received and amount paid to the pledger <br />or seller in exchange for the item pawned or sold. <br />(D) The signature of the pawnbroker or precious metal dealer or agent. <br />(E) The last regular business day by which the item must be redeemed <br />by the pledger without risk that the item will be sold and the <br />amount necessary to redeem the pawned item on that date. <br />(F) The annual rate of interest charged on pawned items received. <br />(G) The name and address of the seller or pledger. <br />8. Class A and B secondhand dealers shall maintain records and provide <br />those records to the Police Department pursuant to a records retention and <br />reporting plan approved by the Chief of Police prior to the issuance of a <br />license. <br />9. Class C secondhand dealers shall report transactions to the Police <br />Department on forms provided by the issuing authority. <br />10. Hours of Operation. No pawnbroker, precious metal dealer or <br />secondhand goods dealer shall keep the establishment open for the <br />transaction of business on any day of the week before 7:00 a.m. or after <br />10:00 p.m. <br />11. Minors. The pawnbroker, precious metal dealer or secondhand <br />goods dealer shall not purchase or received personal property of any nature <br />on deposit or pledge from any minor. <br />12. Inspection of Items. The pawnbroker, precious metal dealer or <br />secondhand goods dealer shall, at all times during the term of the license, <br />PAGE 12 <br />