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This entry was published on 2014-09-22
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SECTION 41
Licenses, how obtained; penalty for carrying on business without license
General Business (GBS) CHAPTER 20, ARTICLE 5
§ 41. Licenses, how obtained; penalty for carrying on business without
license. The mayor or such local licensing authority may from time to
time grant, under his hand and the official seal of his office, to such
citizens, or aliens lawfully admitted for permanent residence in the
United States, as he shall deem proper and who shall produce to him
satisfactory evidence of their good character, a license authorizing
such person to carry on the business of a collateral loan broker, which
license shall designate the house in which such person shall carry on
said business, and no person, corporation, partnership or firm shall
carry on the business of a collateral loan broker without being duly
licensed, nor in any other house than the one designated in said
license, under a penalty of one hundred dollars for each day he or they
shall exercise or carry on said business without such license or at any
other house than the one so designated. Any person receiving such
license shall pay therefor the sum of five hundred dollars for the use
of the city yearly where such business is to be conducted in a city with
a population of more than one million persons, and where the business is
to be conducted elsewhere the fee for such license shall not exceed two
hundred fifty dollars yearly, and every such license shall expire one
year from the date thereof, and may be renewed on application to the
mayor or local licensing authority each and every year on payment of the
same sum and upon performance of the other conditions herein contained.
Every person so licensed shall, at the time of receiving such license,
file with the mayor or such local licensing authority granting the same
a bond to the local authorities, to be executed by the person so
licensed and by two responsible sureties, in the penal sum of ten
thousand dollars, to be approved by such mayor or local licensing
authority, which bond shall be conditioned for the faithful performance
of the duties and obligations pertaining to the business so licensed,
and the mayor or such local licensing authority shall have full power
and authority to revoke such license for cause.