§ 9:1200. Definitions.(City)

The following definitions will apply where such words appear in this chapter:

(a)

Person means an individual, employee, partnership, corporation, joint venture, trust, association or any other legal entity however organized.

(b)

Pawnbroker means any person engaged in the business of lending money on the security of pledged goods; or engaged in the business 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.

(c)

Pledged goods means tangible personal property other than choices in action, securities, or printed evidences of indebtedness, which property is deposited with or otherwise actually delivered into the possession of pawnbroker in the course of his business in connection with a pawn transaction.

(d)

Pawnshop means the location at which or premises in which a pawnbroker regularly conducts business.

(e)

Month means that period of time from one date in a calendar month to the corresponding date in the following calendar month, but if there is no such corresponding date, then the last day of such following month; and when computations are made for a fraction of a month, a day shall be one-thirtieth of a month.

(f)

Pawn transaction means the pledging with a pawnbroker under this chapter of a single item of goods or tangible personal property as security for a loan of money. Items that are usually sold as a set are considered a single item and must be included in the same transaction, and a pledged item together with items that are accessories to the pledged item are considered a single item and must be included in the same transaction. A separate pawn transaction retains its separate character when it is renewed, unless the parties agree otherwise.

(Ord. No. 9407, § 1, 3-11-92)