§ 54-62. License.

(a)

Required; contents of application. No person shall engage or continue in the business as a precious metal and gem dealer without first obtaining a license therefor from the director of finance. This license shall be renewed annually, and one license shall be obtained for each place of business. Application for the license shall be in writing and shall state:

(1)

The full name and place of residence of the applicant, including each member of a partnership applying for a license. If the applicant is a corporation or association, the application shall contain such information for each officer, members of the board or member thereof.

(2)

The address of the location where the business is to be conducted, and the hours and days of week business will be conducted.

(3)

Such other information as may be required by the director of finance.

(b)

Application and renewal form; fee. The license application and renewal thereof shall be on a form approved by the director of finance and shall be accompanied by a fee as set forth in section 40-63.

(c)

Posting; transfer. The document or the instrument evidencing the license shall be kept conspicuously posted in the place of business of the licensee and shall not be transferred or assigned.

(d)

Bond. Every person applying for a license as a precious metal and gem dealer shall, before such license is issued, enter into a bond to the city with two or more good and sufficient sureties, to be approved by the director of finance, in the penal sum of $5,000.00, conditioned that the applicant will faithfully observe all ordinances, regulations or requirements of the city in relation to the precious metal and precious gem business and will pay all costs, fines and penalties incurred on account of his failure or neglect in that behalf, and will pay all damages resulting to any person by reason of this wrongful purchase of any stolen property, or the property of a minor. Such bond shall be filed by the director of finance and may be sued upon by any person damaged as provided in this subsection, in the name of this city, to the use of the city.

(e)

Revocation. Whenever, upon the presentation of evidence, the director of finance shall find that a precious metal or gem dealer has violated or caused or allowed any other person to violate any provision of this article, the license shall be revoked by the director for a period not to exceed one year.

(Code of Gen. Ords. 1967, § 27.36; Ord. No. 52816, 7-30-81)