Secs. 9-131—9-170. Reserved.

ARTICLE IV. RESERVED

Secs. 9-171—9-200. Reserved.

ARTICLE V. PAWNBROKERS 2

 

Notes

2	State law reference(s)— Consumer finance act exemption, G.S. 53-191; regulation of precious metal businesses, G.S. 66-163 et seq.; pawnbrokers, G.S. 91-1 et seq.; privilege license tax for pawnbrokers, G.S. 105-50.

DIVISION 1. GENERALLY

Sec. 9-201. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Pawn or pawn transaction means a written bailment of personal property as security for a debt, redeemable on certain terms within 180 days unless renewed, and with an implied power of sale on default.

Pawnbroker means any person engaged in the business of lending money on the security of pledged goods and who may also purchase merchandise for resale from dealers and traders.

Pawnshop means the location at which or premises in which a pawnbroker regularly conducts business.

Pledged goods means tangible personal property which is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of his business in connection with a pawn transaction.

Purchase means any item purchased from an individual for the purpose of resale, whereby the seller no longer has a vested interest in the item.

(Ord. No. 1888, § 2(18A-1), 2-12-91)

Cross reference(s)—Definitions and rules of construction generally, § 1-2.