16-706. Definitions.
16-706
16-706. Definitions.
As used in this act:
(a) (1) "Pawnbroker" means any person who
loans money on deposit or pledge of personal property or other valuable thing,
other than intangible personal property, or who deals in the
purchase of personal property on the condition of selling the same back
again at a stipulated price.
(2) "Pawnbroker" does not include any person
operating under the supervision of the state banking commissioner,
credit union administrator or the consumer credit commissioner of this state.
(b) "Person" means any individual, firm, company, partnership, corporation
or association.
(c) "Precious metal" means gold, silver or platinum group metals or any
used articles or other used personal property containing such metals, but
shall not include coins purchased for their numismatic value rather than
their metal content or ingots or other industrial residue or by-products
composed of such metals purchased from manufacturing firms.
(d) "Precious metal dealer" means any person who engages in the business
of purchasing precious metal for the purpose of reselling such metal in any form.
History: L. 1972, ch. 51, § 1;
L. 1981, ch. 91, § 1;
L. 1981, ch. 92, § 1; July 1.