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04-02-2003
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04-02-2003
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9/4/2018 6:39:07 AM
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MV City Council
City Council Document Type
City Council Packets
Date
4/2/2003
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Ordinance <br />Page 3 <br /> <br />ACCEPTABLE IDENTIFICATION: Acceptable forms of identification are a current valid <br />Minnesota driver's license, a current valid Minnesota identification card, or a current <br />valid photo driver's license or identification card issued by another state or province <br />of Canada. <br />AUTOMATED PAWN SYSTEM (APS): A computerized data collection system that <br />mandates the collection of data and digitized images via modem for the purpose of <br />regulation and review of licensed pawn dealers by city officials and authorized <br />subscribers. <br />BILLABLE TRANSACTIONS: Every reportable transaction conducted by a <br />pawnbroker, except renewals, redemptions, or extensions of existing pawns on items <br />previously reported and continuously in the licensee's possession. <br />CONSIGNMENT: Acting as a sales agent for another, selling another person’s goods <br />without having to first purchase said goods. <br />ISSUING AUTHORITY: The City of Mounds View. <br />ITEM CONTAINING PRECIOUS METAL: An item made in whole or in part of metal and <br />containing more than one percent (1%) by weight of silver, gold or platinum. <br />MINOR: Any natural person under the age of eighteen (18) years. <br /> <br /> PAWNBROKER: A person engaged in whole or in part in the business of lending <br />money on the security of pledged goods left in pawn, or in the business of purchasing <br />tangible personal property to be left in pawn on the condition that it may be redeemed <br />or repurchased by the seller for a fixed price within a fixed period of time. The <br />following are exempt from the definition of "pawnbroker": any bank regulated by the <br />state of Minnesota, the comptroller of the currency of the United States, the Federal <br />Deposit Insurance Corporation, the board of governors of the Federal Reserve <br />system, or any other federal or state authority and their affiliates; any bank or s avings <br />and loan whose deposits or accounts are eligible for insurance by the Federal Deposit <br />Insurance Corporation or any successor to it and all affiliates of those banks and <br />savings and loan associations; any state or federally chartered credit union; any <br />industrial loan and thrift company or regulated lender subject to licensing and <br />regulation by the department of commerce. <br /> <br /> PAWNSHOP: The licensed location in which a pawnbroker conducts business. <br /> <br />PERSON: One or more natural persons; a partnership, in cluding a limited partnership; <br />a corporation, including a foreign, domestic or nonprofit corporation, a trust, a political <br />subdivision of the state; or any other business organization.
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