Hollywood, Fla., City Code § 125.01 SHORT TITLE.
§ 125.01 SHORT TITLE.
This chapter shall be known and designated as the Small Loan Code of the city.
('72 Code, § 27-1) (Ord. 677, passed - - )
SMALL LOAN CODE
Hollywood, Fla., City Code tit. XI, ch. 125
in effectHollywood, Fla., City Code § 125.02 LICENSE REQUIRED; ADOPTION AND INCORPORATION OF STATE LAW.
§ 125.02 LICENSE REQUIRED; ADOPTION AND INCORPORATION OF STATE LAW.
(A) Every person engaged in or managing the business of making small loans within the city, as defined by F.S. Chapter 516, which state law is hereby made a part of this chapter, shall obtain a city license before engaging in such business.
('72 Code, § 27-2)
(B) No person shall engage in or manage the business of making small loans within the city without first obtaining a license to do so from the city and paying therefor to the city, the sum required by § 110.40, for each separate location in the city; however, a license shall be required to cover each and every business advertised by sign, newspaper, magazine or otherwise. Any such sign, newspaper, magazine or other evidence shall be prima facie proof of conducting such business as advertised. One license shall be issued to cover but one location.
('72 Code, § 27-4)
(Ord. 677, passed - - ) Penalty, see § 125.99
Hollywood, Fla., City Code § 125.03 APPLICATION FOR LICENSE.
§ 125.03 APPLICATION FOR LICENSE.
No license shall be issued or granted to any applicant authorizing him to engage in the small loan business before the applicant has filed an application, as required by F.S. § 516.03 and Chapter 110 hereof, and obtained a license as required by F.S. § 516.05.
('72 Code, § 27-3) (Ord. 677, passed - - )
Hollywood, Fla., City Code § 125.04 PERMISSIBLE INTEREST RATES, CHARGES.
§ 125.04 PERMISSIBLE INTEREST RATES, CHARGES.
(A) Every person licensed under this chapter may loan any sum of money not exceeding the sum of $600, and may charge, contract for and receive thereon interest at a rate not to exceed 3½% per month; provided, however, that said interest shall not be payable in advance or compounded and shall be computed solely upon unpaid balances.
(B) No further or other charges whatsoever shall be made, either directly or indirectly, for any examination, service, brokerage, commission or other thing contracted for or received, except the lawful fees, if any, actually and necessarily paid out by the licensee to any public officer for filing, recording or releasing in any public office any instrument securing the loan, which fees may be collected when the loan is made or at any time thereafter.
(C) If interest or charges in excess of those permitted by this section are charged, contracted for or received, the contract or loan shall be void, and the licensee shall have no right to collect or receive any principal, interest or charges whatsoever.
(D) No licensee shall directly or indirectly charge, contract for or receive any interest or consideration greater than 10% per annum upon the loan, use or forbearance of money, goods, or things in action, or upon the loan, use or sale of credit, of the amount or value of more than $600. The fore-going prohibition shall also apply to any licensee who permits any person, as borrower or as endorser, guarantor or surety for any borrower or otherwise, to owe to the licensee directly or contingently, or both, at any one time, a sum in excess of $600 as principal.
('72 Code, § 27-5) (Ord. 677, passed - - )
Penalty, see § 125.99
Hollywood, Fla., City Code § 125.05 DUTIES OF LICENSEES.
§ 125.05 DUTIES OF LICENSEES.
Every licensee shall conform to the following regulations:
(A) Deliver to each borrower at the time a loan is made, a statement in the English language, stating in clear and distinct terms the amount and date of the loan and its maturity date, the nature of the security for the loan, if any, the name and address of the borrower and of the licensee, and the rate of interest charged. Upon such statement there shall be printed in English a copy of F.S. § 516.14.
(B) Give to each borrower a receipt for all payments on account made on such loan at the time said payments are made; said receipt to be phrased and written in a manner easy to understand.
(C) Permit payment of each loan, either in whole or in part, prior to its maturity date with interest on said payment to the date thereof.
(D) Upon payment of each loan in full, the licensee shall mark all papers signed by the borrower with the word “paid” or “canceled” with indelible pencil or ink, releasing any mortgage, restoring any pledge, and canceling and returning any assignment given by the borrower as security.
('72 Code, § 27-6) (Ord. 677, passed - - ) Penalty, see § 125.99
Hollywood, Fla., City Code § 125.06 PROHIBITED CONDUCT.
§ 125.06 PROHIBITED CONDUCT.
(A) No licensee shall take a confession of judgment or a power of attorney from any borrower during the time the relationship of lender and borrower exists between said parties.
(B) No licensee shall ask for and receive any note, promise to pay or security which does not state the actual amount of the loan, the term for which it is made, and the rate of interest charged.
(C) No licensee shall ask for or receive from a prospective borrower any written instrument pertaining to the small loan involved, which has not been completely executed and on which blank spaces are unfilled.
('72 Code, § 27-7)
(D) (1) No assignment of or order for the payment of any salary, wages, commissions or other compensation for services, earned or to be earned, given to secure any such loans, shall be valid unless the amount of such loan is paid to the borrower simultaneously with its execution; nor shall any such assignment or order, or any chattel mortgage or other lien on household furniture then in the possession and use of the borrower be valid unless it be in writing, signed in person by the borrower; or, if the borrower is married, unless it be signed in person by both husband and wife; provided, that written assent of a spouse shall not be required when husband and wife have been living separate and apart for a period of at least five months prior to such assignment, order, mortgage or lien.
(2) Under any such assignment or order for the payment of future salary, wages, commissions or other compensation for services given as security for a loan made under this chapter, a sum equal to 10% of the borrower's salary, wages, commissions or other compensation for services shall be collectible from the employer of the borrower by the licensee at the time of each payment of salary, wages, commissions or other compensation for services from the time that a copy of such assignment, verified by the oath of the licensee or his agent, together with a similarly verified statement of the amount unpaid upon such loan, is served upon the employer.
('72 Code, § 27-8)
(E) No person shall print, publish or distribute, or cause to be printed, published or distributed in any manner whatsoever, any written or printed statement with regard to the rates, terms or conditions for the lending of money, credit, goods or things in action, in an amount of $600 or less, which is false or calculated to deceive. ('72 Code, § 27-9)
(Ord. 677, passed - - ) Penalty, see § 125.99
Hollywood, Fla., City Code § 125.07 INVESTIGATION OF POSSIBLE VIOLATIONS BY CITY.
§ 125.07 INVESTIGATION OF POSSIBLE VIOLATIONS BY CITY.
The City Police Department, for the purpose of discovering violations of this chapter may, either personally or by any person designated by it, at any time and as often as it may desire, investigate the loans and business of every licensee and of every person by whom or by which any such loan shall be made, whether such person shall act or claim to act as principal, agent or broker, or under or without the authority of this chapter. For that purpose it shall have free access to the office or place of business, books, papers, records, safes and vaults of all such persons. It shall also have authority to examine under oath all persons whose testimony it may require relative to such loans or business, and shall be guided by the provisions of F.S. § 516.11.
('72 Code, § 27-10) (Ord. 677, passed - - ) Penalty, see § 125.99
Hollywood, Fla., City Code § 125.08 RECORDKEEPING.
§ 125.08 RECORDKEEPING.
(A) The licensee shall keep such books and records in his place of business as, in the opinion of the Police Department, will enable said Department to determine whether the provisions of this chapter are being observed.
(B) Every such licensee shall preserve the records of final entry used in such business, including cards used in the card system, if any, for a period of at least two years after the making of any loan recorded therein.
('72 Code, § 27-11) (Ord. 677, passed - - ) Penalty, see § 125.99
Hollywood, Fla., City Code § 125.99 PENALTY.
§ 125.99 PENALTY.
Any person who shall violate any of the terms and provisions of this chapter shall upon conviction be subject to a fine not exceeding $500 or imprisonment not to exceed 60 days, or both.
('72 Code, § 27-12) (Ord. 677, passed - - ; Am. Ord. O-88-14, passed 4-6-88; Am. Ord. O-95-20, passed 4-5-95)
Source: City of Hollywood, Florida, Code of Ordinances, Charter and Zoning and Land Development Regulations (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/hollywood/latest/hollywood_fl/0-0-0-44380Fetched: 11/8/2026