For purposes of this chapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
CHIEF LAW ENFORCEMENT OFFICER. The chief or head of the law enforcement agency for the City of Mora or their designee.
CITY. The City of Mora, Kanabec County, Minnesota, a municipal corporation.
LICENSEE. The person to whom a license is issued under this chapter, including any agents or employees of the person.
MINOR. Any natural person under the age of eighteen (18) years.
PAWN TRANSACTION. Any loan on the security of pledged goods or any purchase of pledged goods on the condition that the pledged goods are left with the pawnbroker and may be redeemed or repurchased by the seller for a fixed price within a fixed period of time.
PAWNBROKER.
(1) Except as provided in division (2) below, PAWNBROKER means a person engaged in whole or in part in the business of lending money on the security of pledged goods left in pawn, or in the business of purchasing tangible personal property to be left in pawn on the condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time.
(2) The following are exempt from the definition of PAWNBROKER: any bank regulated by the State of Minnesota, the Comptroller of the currency of the United States, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any other federal or state authority and their affiliates; any bank or savings association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or any successor to it and all affiliates of those banks and savings associations; any state or federally chartered credit union; and any industrial loan and thrift company or regulated lender subject to licensing and regulation by the Department of Commerce.
PAWNSHOP. The location at which or premises in which a pawnbroker regularly conducts business.
PERSON. An individual, partnership, corporation, limited liability company, joint venture, trust, association, or any other legal entity, however organized.
PLEDGED GOODS. Tangible personal property other than choses in action, securities, bank drafts, or printed evidence of indebtedness, that are purchased by, deposited with, or otherwise actually delivered into the possession of a pawnbroker in connection with a pawn transaction.
(Ord. 427, passed 11-18-2014)