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Under the amended ordinance, pawnbrokers and secondhand dealers who violate the city’s rules will now be subject to a tiered penalty system. For a first violation, dealers would pay a fine between $1,000 to $2,500; on second violation, a fine of between $2,000 and $5,000, and/or a suspension of license from three to 30 days; on third violation, a suspension of license from three to 30 days or revocation of license; on fourth violation, the pawnbroker’s license would be revoked.

Under previous ordinance rules, pawnbroking businesses facing a single violation were permitted to forfeit a $1,000 bond. But, the city would move to revoke the pawnbroker’s license on a second offense.”

Read on for full details on the changes

 

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