ORS 726.010
Definitions
(1)
“Pawnbroker” means a person, copartnership, association or corporation that:(a)
Lends money at a rate of interest greater than 10 percent per annum on the deposit or pledge of personal property;(b)
Purchases personal property on the direct or implied condition of selling the personal property back at a stipulated price that would amount to paying interest or consideration in excess of 10 percent per annum; or(c)
Does business as a storage warehouse operator and lends money at a rate of interest greater than 10 percent per annum upon goods, wares, merchandise or personal property pledged or deposited as collateral security.(2)
Intentionally left blank —Ed.(a)
“Personal property” means tangible property a person owns, including:(A)
Chattels and movables, such as merchandise, furniture, goods, machinery, tools and equipment, supplies and media;(B)
Pledges that are not required to be registered with the Department of Transportation;(C)
Snowmobiles, as defined in ORS 801.490 (“Snowmobile.”);(D)
Trailers that have a loaded weight of not more than 8,000 pounds and that are designed or manufactured, or are otherwise suitable, for carrying a boat, snowmobile or all-terrain vehicle; and(E)
Equipment used for farming.(b)
“Personal property” does not include:(A)
Pledges that are required to be registered with the Department of Transportation, unless the pledge is a snowmobile or a trailer described in paragraph (a) of this subsection;(B)
Choses in action;(C)
Securities or printed evidence of indebtedness; or(D)
Intangible property.(3)
“Pledge” means personal property deposited with a pawnbroker in the course of the business of the pawnbroker.(4)
“Pledgor” means a person who delivers a pledge into the possession of a pawnbroker, unless the person discloses that the person is or was acting for another, in which event “pledgor” means the disclosed principal.(5)
“Pledge loan” means a loan that a pawnbroker makes to a pledgor and that is secured by a pledge. [Amended by 1971 c.168 §1; 1985 c.762 §135; 1987 c.373 §71; 1993 c.744 §27; 2013 c.261 §1]
Source:
Section 726.010 — Definitions, https://www.oregonlegislature.gov/bills_laws/ors/ors726.html.
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