(a) For purposes of this subchapter:
(1) “Pawnbroker” means any person, corporation, partnership or other business entity conducting business in the Virgin Islands which acquires from a consumer through purchase, barter, or any form of transfer in exchange for money, trade, barter or other valuable consideration precious metals or precious stones as defined in title 27 Virgin Islands Code, chapter 9, section 309, subsections (c) and (d), watches, porcelain or any other item of any kind, except that those established merchants in fixed locations are excluded when the purchase is made directly from manufacturers or wholesalers.
(2) “Consumer” means any person who obtains from a pawnbroker money or any form of consideration in exchange for an item.
(b)
(1) Any pawnbroker who accepts or exchanges or deals in any manner with precious metals or precious stones as defined in title 27 Virgin Islands Code, chapter 9, section 309, subsections (c) and (d), watches, porcelain or any item of any kind shall install video recording devices in the person's place of business, and all transactions must be video recorded showing the face of the consumer and the date and time of the transaction and must be kept for not less than 90 days after the recording is made.
(2) Any pawnbroker who violates paragraph (1) is subject to forfeiture of his business license and is subject to a fine of twice the value of the item transacted.