(a) Notwithstanding any provision of this part to the contrary, the license of any person, firm, or corporation licensed as a pawnbroker on July 1, 1988, shall continue in force until the natural expiration thereof, and all other provisions of this part shall apply to the licensee.
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Terms Used In Tennessee Code 45-6-220

  • 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.
  • Pawnbroker: means any person, partnership or corporation engaged in the business of lending money on the security of pledged goods. See Tennessee Code 45-6-203
  • Person: means any individual, corporation, joint venture, association or any other legal entity however organized. See Tennessee Code 45-6-203
(b) The pawnbroker shall be eligible for renewal of the license upon its expiration or the expiration of subsequent renewals; provided, that the licensee complies with the requirements for renewal that were in effect immediately prior to July 1, 1988.
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