§ 6-5-10. Definitions.

Latest version.

For the purposes of this Section, the terms defined shall have the meanings indicated:

Pawnbroker means any person who engages in the business of lending money on the deposit or pledge of personal property, or who purchases personal property with an expressed or implied agreement or understanding to sell it back at a stipulated price. (Any pawnbroker may affect the purchase of secondhand personal property for resale purposes under the terms of this Article by acquiring any pawn ticket of his or her own issue by transfer.) A pawnbroker may supplement his or her business of pawnbroking by engaging in the sale of new or used merchandise purchased through ordinary channels of trade.

Pawnbroking means the business of a pawnbroker as defined in this Section.

Pledge means any article deposited with a pawnbroker as security for a loan in the course of his or her business.

Pledgor means a person who delivers a pledge into the possession of a pawnbroker; and if such person a disclosure that the person is acting for another, pledgor means the disclosed principal. (Prior code 6.06.01; Ord. 11-2007 §1)

                    
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