For purposes of this chapter "pawnbroker" means a person or entity engaged in the business of lending money on deposit or pledges of personal property, other than securities or printed evidence of indebtedness, at a total charge, rate of interest, or discount or other remuneration in excess of eight percent per annum and/or engaged in the business of purchasing personal property from a pledger or seller with an agreement that the pawnbroker will make the personal property available to the pledger or seller for repurchase within an agreed upon time period for an amount greater than the price the pawnbroker originally paid to purchase the personal property.
(Ord. 46-96. Passed 3-11-96.)