Terms Used In Minnesota Statutes > Chapter 325J - Pawnbrokers

• Appropriate law enforcement agency: means the attorney general of the state of Minnesota, the sheriff of each county in which a pawnbroker maintains an office, or the police chief of the municipality or law enforcement officers of the municipality in which a pawnbroker maintains an office. See Minnesota Statutes 325J.01
• Arrest: Taking physical custody of a person by lawful authority.
• ASTM: means the American Society for Testing and Materials, a private organization that utilizes committees of industry representatives and regulators to develop product quality standards and test methods to be used by industries, regulatory agencies, and purchasing agents. See Minnesota Statutes 239.051
• biofuel: includes both advanced and conventional biofuels. See Minnesota Statutes 239.051
• Collector vehicle: means a motor vehicle for which the commissioner of public safety has issued a pioneer license, classic car license, collector license, or street rod license under section 168. See Minnesota Statutes 239.051
• Commissioner: means the commissioner of the Department of Commerce. See Minnesota Statutes 239.051
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Correct: when used in connection with weights and measures, means conformance with the applicable requirements of this chapter, and rules adopted under the authority granted by this chapter. See Minnesota Statutes 239.051
• Department: means the Department of Commerce. See Minnesota Statutes 239.051
• Director: means the director of the Division of Weights and Measures of the Department of Commerce. See Minnesota Statutes 239.051
• Dispenser: means a device designed to measure and deliver liquid petroleum products used as fuel. See Minnesota Statutes 239.051
• Distributor: means a person who is licensed by the Department of Revenue, under the requirements of section 296A. See Minnesota Statutes 239.051
• Division: means the Division of Weights and Measures of the Department of Commerce. See Minnesota Statutes 239.051
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Gasoline: has the meaning given it in section 296A. See Minnesota Statutes 239.051
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Metrology: means the science and practice of precise measurement, including measurement of mass, length, volume, and temperature. See Minnesota Statutes 239.051
• Minor: means an individual under the age of 18. See Minnesota Statutes 645.451
• Month: means a calendar month and "year" means a calendar year, unless otherwise expressed; and "year" is equivalent to the expression "year of our Lord. See Minnesota Statutes 645.44
• Municipality: means any town, home rule charter or statutory city, or county that elects to regulate and license pawnbrokers within its jurisdiction pursuant to local ordinance. See Minnesota Statutes 325J.01
• Net weight: means the weight of a commodity excluding materials, substances, or items not considered to be part of the commodity. See Minnesota Statutes 239.051
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oxygenate: means agriculturally derived, denatured ethanol, ETBE, MTBE, or other alcohol or ether, approved as an oxygenate by the United States Environmental Protection Agency. See Minnesota Statutes 239.051
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Pawn transaction: means any loan on the security of pledged goods or any purchase of pledged goods on the condition that the pledged goods are left with the pawnbroker and may be redeemed or repurchased by the seller for a fixed price within a fixed period of time. See Minnesota Statutes 325J.01
• pawnbroker: means a person engaged in whole or in part in the business of lending money on the security of pledged goods left in pawn, or in the business of purchasing tangible personal property to be left in pawn on the condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time. See Minnesota Statutes 325J.01
• Pawnshop: means the location at which or premises in which a pawnbroker regularly conducts business. See Minnesota Statutes 325J.01
• Person: means an individual, partnership, corporation, limited liability company, joint venture, trust, association, or any other legal entity, however organized. See Minnesota Statutes 325J.01
• Person: means person or persons, corporation, partnership, stock company, society, association, or the agent or employee thereof. See Minnesota Statutes 239.051
• Personal property: All property that is not real property.
• Pledged goods: means tangible personal property other than choses in action, securities, bank drafts, or printed evidence of indebtedness, that are purchased by, deposited with, or otherwise actually delivered into the possession of a pawnbroker in connection with a pawn transaction. See Minnesota Statutes 325J.01
• Primary standards: means the physical standards of the state that serve as the legal reference from which all other standards and weights and measures are derived. See Minnesota Statutes 239.051
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Sample: means a sample of a petroleum product taken from a dispenser or storage tank by the division or a sample of a petroleum product provided to the division by a licensed distributor. See Minnesota Statutes 239.051
• seal: includes an impression thereof upon the paper alone, as well as an impression on a wafer, wax, or other substance thereto attached. See Minnesota Statutes 645.44
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
• Statute: A law passed by a legislature.
• Telecommunications service: means the offering of telecommunications for a fee directly to the public or to such classes of users as to be effectively available to the public regardless of the facilities used. See Minnesota Statutes 237.01
• Telecommunications service provider: means any provider of telecommunications service. See Minnesota Statutes 237.01
• Telephone company: means and applies to any person, firm, association or any corporation, private or municipal, owning or operating any telephone line or telephone exchange for hire, wholly or partly within this state, or furnishing any telephone service to the public. See Minnesota Statutes 237.01
• terminal: means a petroleum refinery, pipeline terminal, river terminal, storage facility, or other point of origin where liquefied petroleum gas or petroleum products are manufactured, or imported by rail, truck, barge, or pipe; and held, stored, transferred, offered for distribution, distributed, offered for sale, or sold. See Minnesota Statutes 239.051
• Weight: means net weight when it is used in connection with a commodity sold by weight. See Minnesota Statutes 239.051