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Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
The City of St. George will not issue a pawnbroker, secondhand dealer or precious metals and gem dealer license without this bond on file. It costs an annual premium instead of a cash deposit with the city, and the same bond stays in force for the full one year license term.
The City of St. George, Utah requires pawnbrokers, secondhand dealers and secondhand precious metals and gem dealers to post a bond of at least $5,000 under City Code 3-2D-4. The license officer can set a lower amount for a specific licensee when the public health, safety and welfare concerns are minimal. The bond runs to the city and to anyone harmed by the licensee, and St. George business licenses expire one year from issue.
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The licensing rules behind this bond are in the St. George City Code, Title 3, Chapter 2, Article D, which covers pawnbrokers, swap meets, secondhand dealers and precious metals and gem dealers. The obligee is the City of St. George, Utah. Each license names the category it covers, so a shop that both pawns and buys gold should expect the city to look at each activity.
The code defines a pawnbroker as someone who lends money on deposit of personal property or buys property on the condition it may be sold back. A secondhand precious metals and gem dealer buys, trades or sells secondhand gold, silver, platinum or other precious metals, or secondhand gems and articles containing them. Antique dealers who take in antique items containing precious metals or gems must also hold the precious metals and gem dealer license.
The secondhand dealer definition excludes several businesses: dealers only in used motor vehicles or trailers, charities that acquire goods solely by donation, and dealers only in used clothing, furniture or household goods that do not include electrical appliances, jewelry, furs, original paintings or silverware.
Section 3-2D-4 sets the bond at no less than $5,000, conditioned on faithful performance of the article. The license officer may reduce it based on considerations specific to the licensee that minimize public health, safety and welfare concerns. The bond is governed by the general surety rule in section 3-1-14, which lets the applicant post cash or a corporate surety bond, makes the bond run to the city and to any person injured in dealings with the licensee, and keeps it in effect for the whole license term. After surrender or expiration, the license officer may hold the bond for up to 90 days to check for claims.
Licensees keep a record of every item received, use serially numbered three part tickets with a thumbprint and both signatures, and hold items for 30 days before selling or altering them unless the police department releases them sooner. Confirm the current bond form and filing steps with St. George Business Licensing before the bond is issued.
The City of St. George, Utah. The requirement comes from the St. George City Code, and the bond is filed with St. George Business Licensing.
Yes. Section 3-2D-4 lets the license officer lower the amount based on factors specific to your business that reduce public health, safety and welfare concerns. Ask before you buy the bond if you think that applies to you.
Section 3-1-14 allows a cash deposit or a corporate surety bond. A surety bond keeps your cash free for inventory and loans.
Thirty days from receipt, unless the police department expressly releases them earlier. Pawned items redeemed by the original pledger are not subject to the hold.
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