A junk dealer or secondhand dealer who, after purchasing property from a customer, enters into an agreement to allow the customer to buy back the property:
1. Must be licensed as a pawnbroker by the county, city or town in which the transaction occurred if that county, city or town requires pawnbrokers to obtain a license; and
2. Shall comply with the provisions of chapter 646 of NRS.
(Added to NRS by 1997, 2548)