For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
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. 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.
PAWNSHOP. The location at which or premises in which a pawnbroker regularly conducts business.
PLEDGED GOODS. Tangible personal property other than a chose 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.
(2006 Code, § 6.43) (Ord. 125, 3rd Series, passed 6-5-1998)