Amended by Stats. 1996, Ch. 923, Sec. 7. Effective January 1, 1997.
Every person engaged in the business of receiving goods, including motor vehicles, in pledge as security for a loan is a pawnbroker within the meaning of this division.
Article 1 - Definitions
California Financial Code — §§ 21000-21003
Sections (5)
Added by Stats. 1979, Ch. 1037.
As used in this division “receiving goods as security for a loan” does not include a good faith purchase of goods.
Enacted by Stats. 1951, Ch. 364.
“Compensation” includes expenses, interest, disbursements, storage charges, and all other charges of any nature in connection with a loan or forbearance.
Added by Stats. 1983, Ch. 1128, Sec. 1.
(a)As used in this division, “pledged property” is property held as security for a loan, the title to which remains with the pledgor and has not passed to the pawnbroker pursuant to Section 21201.
(b)“Vested property” is property the title to which has been transferred from the pledgor to the pawnbroker pursuant to Section 21201. Vested property is not pledged property.
Added by Stats. 2011, Ch. 318, Sec. 1. (AB 424) Effective January 1, 2012.
For purposes of this division, the term “month” means a period of time consisting of 30 consecutive calendar days.