For the purpose of this chapter, the following definition shall apply unless the context clearly indicates or requires a different meaning.
PAWNBROKER.
(1) Any person who:
(a) Engages in the business of lending money on the deposit or pledge of personal property, other than choices in action, securities or evidence of indebtedness; or
(b) Purchases personal property with an expressed or implied agreement or understanding to sell it back at a stipulated price.
(2) Any PAWNBROKER may affect the purchase of second-hand personal property for resale purposes under the terms of this chapter by acquiring any pawn ticket of his or her own issue by transfer.
(Prior Code, § 15-1) (Ord. 1209, passed 3-16-2020)