B The City Clerk shall serve written notice upon the permit holder of the alleged violation. It shall also specify the date, place and time of hearing, not more than ten days, nor less than five days after the date of notice. C The permit holder and any other interested persons shall have the right to appear at the scheduled hearing, to produce testimony and evidence and to cross-examine witnesses. The rules of evidence shall not apply. D If the hearing is conducted by a hearing officer, that officer shall prepare a report setting forth his findings of facts and conclusions of law.
He shall forward his report to the governing body within ten days of the conclusion of the hearing. The governing body shall then consider the report without additional fact-finding and shall adopt, modify or reject the report or remand the report to the hearing officer for additional findings of fact.
The order may suspend the permit for a stated period of time or permanently revoke the permit. The governing body shall cause the order to be served upon the permit holder and filed in the office of the City Clerk for public inspection within five business days after the hearing or consideration of the report.
Service of the order on the permit holder shall be as specified in division B 3 above and the official serving the order shall have the authority to remove the permit from the premises and deliver that permit to the City Clerk.
This hearing or consideration of the report shall be the final administrative remedy. A 1 Every pawnbroker shall each day accurately complete a report of all used property of every kind received or purchased in a pawn transaction during the preceding business day on a form approved by the Department of Public Safety.
Each item received shall be listed on a separate report form. The report shall include the following:. B 1 Every pawnbroker shall at the time of each pawn transaction deliver to the person pawning any item of personal property a ticket, signed by the pawnbroker, containing the substance of the entry required to be made in his report pursuant to division A above.
In the event that the first class mail addressed to any pledger is returned unclaimed to the pawnbroker, then the pawnbroker must post and maintain on a conspicuous public part of his premises an appropriately entitled list name each person.
Ninety days or 12 months, as applicable, after the date of the mailing or posting whichever is later, the pawnbroker may retain any surplus remaining unclaimed by the pledger as his own property. B Every pawnbroker shall keep a permanent record, fully itemized, of all pledged goods disposed of following default by the pledger.
The record shall include the following:. C The foregoing pawn service charges are limiting maximums and nothing herein shall be construed to prohibit a pawnbroker from contracting for or receiving a lesser rate than here established.
A Knowingly enter into a pawn transaction with a person under the age of 18 years or under the influence of alcohol, any narcotic, drug, stimulant or depressant;. B Make any agreement requiring the personal liability of a pledger in connection with the pawn transaction;. C Accept any waiver, in writing or otherwise, of any right or protection accorded a pledger under this chapter;.
Quick Quote — Module available for Pawn Master. This Module allows adding more metal types in addition to yellow gold. Rate table — A group of values measured in amounts of funds and percentages used to calculate the terms of a loan. Regulation Z — A specific Federal Reserve Board regulation that requires debt lenders to disclose all the specifics of a given loan.
This was done to promote a level of credit protection for the underlying consumer. Most of the requirements imposed by the Truth in Lending Act are contained within Regulation Z, and the two terms are often used interchangeably.
Scrap bucket — An inventory location in Pawn Master used to hold items allocated to be sent to the refiner. The shop may or may not have an actual physical bucket or buckets for scrap jewelry.
Simple Interest — Determined by multiplying the interest rate by the principal by the number of periods. It is called simple because it ignores the effects of compounding. SMS — Short Message Service is a text messaging service component of phone, web, or mobile communication systems, using standardized communications protocols that allow the exchange of short text messages between fixed line or mobile phone devices.
Statement — A printed history of all payments made. A formal record of the financial activities of a person, business or other entity.
Surveillance — is the monitoring of the behavior, activities, or other changing information, usually of people for the purpose of influencing, managing, directing, or protecting property. Text Messaging — A module available for installation in Pawn Master used to send payment reminders and promotion alerts.
Title — The certificate of title for a vehicle also known as a car title or pink slip is a legal form, establishing a person or business as the legal owner of a vehicle.
Title loan — is a type of secured loan where the borrower can use their vehicle title as collateral. Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount.
Vender — A person or agency that sells merchandise to the shop for immediate resale. Read our guide: How to start a pawn shop. Federal Regulations. State Resources. Quick Links. An original application must be completed for each office location that conducts business in Alabama pursuant to each act. Contains 4 required documents. The application package contains all of the necessary documentation and information you need to become authorized.
Prior to the granting of a license, you must contact your jurisdictional local agency sheriff or chief of police , where your business will be located, not where you reside, to obtain the secondhand dealer or pawnbroker application package. Contact your local authority to see who your Pawnbroker License is through.
Licenses are not obtained at State level. Pawn Licenses are not done at state level. Pawnbroker regulations are also done at city level. If the pawnbroker does not have a city or town license, then he or she must obtain a Supervised Lender license from the State. This is an expensive and difficult process, so prospective pawnbrokers are urged to work with their municipality to obtain a license. Cities regulate second hand dealers as well. Any applications must be for existing Pawnbroker licenses change of ownership.
Cities are responsible to regulate Pawnbrokers. Instead, they are required to have a license from the municipality or other local area government in which they operate.
They are required to obtain a business license from the Secretary of State and register with the State Tax Division. Check with your local law enforcement and your local Clerk of Courts. Glossary of Pawn Terms. Barbell label — See Jewelry Label. Dumbbell label — See Jewelry Label. Markdown — A reduction in price. Markup — The amount added to the cost price of goods to cover overhead and profit. Memorandum of extension — A short written statement outlining the terms of an agreement, T transaction, or contract.
Negotiable instrument — see financial instrument. Option — See Buy Option. Penny Weight — See dwt. Prorate — To divide, distribute, or assess proportionately. Rat tail label — See Jewelry Label. Redemption — To pay off, such as for a promissory note.
Scrap — The act of removing metal from inventory to be sent to the refiner. Title — The certificate of title for a vehicle also known as a car title or pink slip is a legal form, establishing a person or business as the legal owner of a vehicle Title loan — is a type of secured loan where the borrower can use their vehicle title as collateral.
Truth in lending- See Regulation Z Vender — A person or agency that sells merchandise to the shop for immediate resale. Void — To undue a transaction.
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