Oregon Statutes 726.040 – Pawnbroker license required
No person shall engage or continue in the business of a pawnbroker, or use any assumed business name or advertising that in any way would lead the public to believe the person is a licensed pawnbroker, except as authorized by this chapter and without first procuring a license from the Director of the Department of Consumer and Business Services as provided in this chapter. [Amended by 1979 c.202 § 1]
Terms Used In Oregon Statutes 726.040
- Pawnbroker: means a person, copartnership, association or corporation that:
(a) Lends money at a rate of interest greater than 10 percent per annum on the deposit or pledge of personal property;
(b) Purchases personal property on the direct or implied condition of selling the personal property back at a stipulated price that would amount to paying interest or consideration in excess of 10 percent per annum; or
(c) Does business as a storage warehouse operator and lends money at a rate of interest greater than 10 percent per annum upon goods, wares, merchandise or personal property pledged or deposited as collateral security. See Oregon Statutes 726.010
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100