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For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
PAWNBROKER. A person engaged in the business of making pawn transactions.
PAWN SHOPS. An establishment where pawn transactions are conducted. This term includes pawn shops, but does not include antique or collectibles stores or other retail sales establishments that would be classified as retail sales and service.
PAWN TRANSACTION. The act of lending money on the security of pledged goods or the act of purchasing tangible personal property on condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time.
PERSON. An individual, partnership, corporation, joint venture, trust, association or any other legal entity however organized.
PLEDGED GOODS. Tangible personal property other than choses in action, securities or printed evidences of indebtedness, which property 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.
(Ord. 1863, passed 6-5-12)