Code Section Group

Financial Code - FIN

DIVISION 8. PAWNBROKERS [21000 - 21307]

  ( Division 8 enacted by Stats. 1951, Ch. 364. )

CHAPTER 1. General Provisions [21000 - 21051]

  ( Chapter 1 enacted by Stats. 1951, Ch. 364. )

ARTICLE 1. Definitions [21000 - 21003]
  ( Article 1 enacted by Stats. 1951, Ch. 364. )

21000.
  

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.

(Amended by Stats. 1996, Ch. 923, Sec. 7. Effective January 1, 1997.)

21000.7.
  

As used in this division “receiving goods as security for a loan” does not include a good faith purchase of goods.

(Added by Stats. 1979, Ch. 1037.)

21001.
  

“Compensation” includes expenses, interest, disbursements, storage charges, and all other charges of any nature in connection with a loan or forbearance.

(Enacted by Stats. 1951, Ch. 364.)

21002.
  

(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. 1983, Ch. 1128, Sec. 1.)

21003.
  

For purposes of this division, the term “month” means a period of time consisting of 30 consecutive calendar days.

(Added by Stats. 2011, Ch. 318, Sec. 1. Effective January 1, 2012.)

FINFinancial Code - FIN1.