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r which the title loan lender may retain to evidence such person's receipt of the certificate of title. A person redeeming the certificate of title who is not the borrower must show identification to the title loan lender, together with written authorization from the borrower, and the title loan lender shall record that person's name and address on the title loan agreement retained by the title loan lender. In any such case, the person redeeming the certificate of title shall be provided a copy of such signed form as evidence of such transaction. (b) If the borrower's copy of the title loan agreement is lost, destroyed, or stolen, the borrower must notify the title loan lender, in writing by certified or registered mail, return receipt requested, or in person evidenced by a signed receipt, and receipt of such notice shall invalidate such title loan agreement if the certificate of title has not previously been redeemed. Before delivering the certificate of title or issuing a new title loan agreement, the title loan lender shall require the borrower to make a written statement of loss, destruction, or theft of the borrower's copy of the title loan agreement. The title loan lender shall record on the written statement the type of identification and the identification number accepted from the borrower, the date the statement is given, and the number or date of the tide loan agreement lost, destroyed or stolen. The statement shall be signed by the tide loan lender or the tide loan office employee who accepts the statement from the borrower. SECTION 7. LICENSES. (a) No person may engage in business as a title loan lender ninety (90) days after the effective date of this Ordinance unless the title loan lender has a valid license issued by the Department. A separate license will be required for each physical location of tide loan business. The Department shall issue more than one license to an applicant if that applicant complies with the requirements of this section for each license. (b) An application for a license pursuant to this section must be submitted to the Department on such form as the Department may prescribe. If the Department determines that a license should be granted, it shall issue the license for a period not to exceed two -(2) years. A non-refundable application and license fee shall accompany an initial application for each tide loan application. SEPTEMBER 28, 1999 -120- M 0 1 0