A. Neither dealers nor their employees shall sell any property received in pledge within ninety (90) days after the term of the loan expires. However, if a pledged article is not redeemed within the ninety (90) day period, the pawnbroker has all rights, title and interest of the pledger or the pledger’s assigns.
B. Every transaction entered into by a pawnbroker or his employee shall be evidenced by a written document, a copy of which shall be furnished to the pledger. The document shall set forth the loan period, the date on which the loan is due and payable, and shall inform the pledger or the pledger’s right to redeem the pledge within ninety (90) days after the expiration of the loan term. (Ord. 1678, 1989.)