(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.

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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