§ 12-301. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Pawn transaction means 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 price within a fixed period of time.

Pawnbroker means a person engaged in the business of making pawn transactions.

Pawnshop means the location at which or premises in which a pawnbroker regularly transacts business.

Pledged goods means tangible personal property other than choses in action, securities or printed evidences of indebtedness, which are properties deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of his business in connection with the pawn transaction.

(Code 1966, § 5-20; Code 1982, § 21-1; Ord. No. 1544, § 3, 12-2-1974)

State law reference

Similar definitions, 59 O.S. § 1502.