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§ 12-2101 — DEFINITIONS

Code of the City of Raleigh (Supp. No. 69: codified through Ordinance No. (2025) 802, adopted October 21, 2025) · Raleigh City Code § 12-2101

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Sec. 12-2101. - DEFINITIONS.

As used in this article the following terms shall be defined as follows: Pawn or Pawn Transaction: A written bailment of personal property as security for debt, redeemable on certain terms within one hundred eighty (180) days, unless renewed, and with an implied power of sale on default. Pawnbroker: A person engaged in the business of lending money on the security of pledged goods and who may also purchase merchandise for resale from dealers and traders. Pawnshop: The location at which or in which a pawnbroker regularly conducts business. Person: Any individual, corporation, joint venture, association, or any other legal entity, however organized. Pledged Goods: Tangible personal property which is deposited with or otherwise delivered into the possession of a pawnbroker in the course of his business in connection with a pawn transaction. Purchase: Any item purchased from an individual for the purpose of resale whereby the seller no longer has a vested interest in the item.

(Ord. No. 1992-982, §1, 6-2-92)