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Following notification from a law enforcement agency that an item has been reported as stolen, the pawnbroker or secondhand dealer shall hold that property intact and safe from alteration, damage or commingling. The pawnbroker or secondhand dealer shall place an identifying tag or other suitable identification upon the property so held. Property held shall not be released for one hundred twenty days from the date of police notification unless released by written consent of the applicable law enforcement agency or by order of a court of competent jurisdiction. The applicable law enforcement agency may renew the holding period for additional one-hundred-twenty-day periods as necessary. (Ord. 2060 § 5, 1988)