SB 875, as introduced, Gaines. Pawnbrokers: definition.
Existing law regulates pawnbrokers by, among other things, limiting the maximum monthly rates a pawnbroker may charge and requiring specific posted disclosures of those rates. A knowing violation of the laws regulating pawnbrokers is a crime.
This bill would make nonsubstantive changes to the definition of a pawnbroker.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 21000 of the Financial Code is amended
2to read:
begin deleteEvery end deletebegin insertA end insertperson engaged in the business of receiving
4goods,begin delete includingend deletebegin insert including, but not limited to,end insert motor vehicles, in
5pledge as security for a loan is a pawnbroker within the meaning
6of this division.
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