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(c) verify that the pledgor has automobile insurance on the motor <br /> vehicle as required by law. <br /> (d) A pawnbroker may not sell a motor vehicle covered by a pawn <br /> transaction until ninety(90) days after recovery of the motor <br /> vehicle. <br /> (2) A pawn transaction that involves holding only the title to property is <br /> subject to Minnesota Statutes, Chapter 168A or 336. <br /> K. Label Required. Licensees must attach a label to every item at the time it is <br /> pawned,purchased or received in inventory from any reportable transaction. Permanently <br /> recorded on this label must be the number or name that identifies the transaction in the shop's <br /> records, the transaction date,the name of the item and the description or the model and serial <br /> number of the item as reported to the police department, whichever is applicable, and the date the <br /> item is out of pawn or can be sold, if applicable. Labels shall not be re-used. <br /> L. Display and Storage of Firearms. As a condition of licensure, a pawnbroker shall <br /> not display on the licensed premises any firearms pawned or purchased by the pawnbroker. All <br /> firearms shall be securely stored in an area that is not accessible by the general public. The City <br /> Police Department shall approve how firearms are stored and secured. <br /> M. Risk of Loss. In the event pledged goods are lost or damaged while in possession <br /> of the pawnbroker,the pawnbroker shall compensate the pledgor, in cash or replacement of <br /> goods acceptable to the pledgor, for the fair market value of the lost or damaged goods. Proof of <br /> compensation shall be a defense to any prosecution or civil action. <br /> N. License Display. A license issued under this Section must be posted in a <br /> conspicuous place in the premises for which it is used. The license issued is only effective for <br /> the compact and contiguous space specified in the approved license application. <br /> O. Responsibility of Licensee. A licensee under this Section shall be responsible for <br /> the conduct of the business being operated and shall maintain conditions of order. The conduct of <br /> agents or employees of a licensee, engaged in performance of duties for the licensee, shall be <br /> deemed the conduct of the licensee. <br /> P. Gambling. No licensee under this Section may keep,possess,or operate, or permit <br /> the keeping,possession, or operation on the licensed premises of dice, slot machines, roulette <br /> wheels,punchboards,blackjack tables, or pinball machines which return coins or slugs, chips, or <br /> tokens of any kind, which are redeemable in merchandise or cash. No gambling equipment <br /> authorized under Minnesota Statutes, Chapter 349,may be kept or operated and no raffles may be <br /> conducted on the licensed premises and/or adjoining rooms. The purchase of lottery tickets may <br /> take place on the licensed premises as authorized by the director of the lottery pursuant to <br /> Minnesota Statutes,Chapter 349A. <br /> Q. Penalty for Property Owner. It is unlawful for any person who owns or controls <br /> real property to knowingly permit it to be used for pawn brokering without a license. <br /> 15 <br />