For the purpose of this article, the following
words and phrases shall have the meanings respectively ascribed to
them by this section:
MONTH
That period of time from one date in a calendar month to
the corresponding date in the following calendar month and, if computations
are made for a fraction of a month, a day shall be one-thirtieth of
one month.
PAWNBROKER
A person engaged in the business of making pawn transactions.
PAWN FINANCE CHARGE
The sum of all charges, payable directly or indirectly by
the customer and imposed directly or indirectly by the pawnbroker
as an incident to the pawn transaction.
PAWNSHOP
The location at which or premises in which a pawnbroker regularly
conducts business.
PAWN TRANSACTION
The act of lending money on the security of pledged goods
or the act of purchasing tangible personal property on condition that
it may be redeemed or repurchased by the seller for a fixed period
of time.
PLEDGED GOODS
Tangible personal property other than choses in action, securities
or printed evidences of indebtedness, which property is deposited
with or otherwise actually delivered into the possession of a pawnbroker
in the course of his business in connection with a pawn transaction.
REDEMPTION PERIOD
That period of time from transaction date to maturity date
of a pawn transaction.