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Maverick
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Does California law prohibits a pawn broker (or pawn shop)

Resolved Question:

Does California law prohibits a pawn broker (or pawn shop) from entering into a pawn transaction with a business entity(e.g., a corporation)?
Submitted: 5 years ago.
Category: Legal
Expert:  Maverick replied 5 years ago.

Welcome to Just Answer! My name is Maverick. I very much enjoy what I do and I hope that you will benefit from this information.

http://law.justia.com/codes/california/2009/fin/21200-21209.html

http://codes.lp.findlaw.com/cacode/FIN/1/d9/1/1/s22008

The California Pawn Broker laws are at the links above. Based on the definition of "person" under code section 22008, it appears that a pawn broker can conduct business with a corporation.



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Customer: replied 5 years ago.
it looks like cal financial code 22008 applies to finance lenders, not pawn brokers. If cal pawn laws are found in 21200 to 21209, it seems section 22008 does not apply to pawn brokers. Could you clarify?
Customer: replied 5 years ago.
Relist: Incomplete answer.
Expert:  Maverick replied 5 years ago.

Sorry, my bad.....

DIVISION 8. PAWNBROKERS
CHAPTER 1. GENERAL PROVISIONS
Article 1. Definitions ...................................... 21000-21003
Article 2. Exceptions to This Division ...................... 21050-21051
CHAPTER 2. PAWNBROKER REGULATIONS ............................ 21200-21209
CHAPTER 3. LICENSURE ......................................... 21300-21307

The above sets forth the law regarding pawn brokers in CA. I would expect to see any prohibitions to lending to a corporate entity to be found under the regulations. I only see terms such as "person", "borrower", and "pledgor" used therein without limitations to corporate entities. Also, no such limitations appear in the definitions section. So, it appears that pawn brokers can transact business with corporations.

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Expert:  Maverick replied 4 years ago.
I'm just following up with you to see how everything is going. Did my answer help?


Let me know,

Maverick