§ 5.44.020. Purpose.

The purpose of this chapter is to:

A.

Prevent frauds, unfair practices, discriminations against, impositions on or abuses of the citizens of New Mexico;

B.

Exercise the police power of the state to insure a sound system of making pawn transactions and acquiring and disposing of tangible personal property by and through pawn-shops and to prevent unlawful pawn transactions, particularly in stolen property, through regulating pawnbrokers and certain persons employed by or in pawnshops;

C.

Ensure financial responsibility to the state and to the public;

D.

Ensure compliance with federal, state and local laws, rules, regulations and ordinances;

E.

To protect from exploitation, abuse or its own improvidence that segment of society in this city which relies from time to time for its need upon money or credit extended by pawnbrokers and given upon the security of native art, handicrafts or movable personal possession.

(Ord. 1267-85 § 2, 1985).