§ 11-13. Authorized transactions.

Each and every pawnbroker licensed as aforesaid:

(1) shall be capable:

(i) of receiving from any person or persons (except a minor or apprentice, knowing or having reason to believe him to be such), bodies corporate, or politic, any deposit or merchandise of every description, as collateral security for such amounts thereon to be advanced by them, as they may deem proper and judicious;

(ii) to hold and retain the same during such time as may be agreed on between the party or parties depositing the same and the said pawnbrokers; and

(iii) to charge for such advances, interest at the established legal rate, and an additional charge as hereinafter specified, appropriate to the nature of the deposit, and the proper storage, removal and care of the same; and

(2) shall give to the party or parties so depositing, a certificate specifying:

(i) the sum advanced;

(ii) the date of deposit;

(iii) the article or articles deposited;

(iv) the amount of charge;

(v) the time for which such deposits shall be kept; and

(vi) the name of the depositor, and his, her, or their place of business, and if none, of abode.