Terms Used In Arizona Laws > Title 44 > Chapter 11 > Article 3 - Pawnbrokers

• 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.
• Designee: means a local law enforcement agency designated in writing by a county sheriff to perform designated duties specified in this article on behalf of the sheriff. See Arizona Laws 44-1621
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• File: when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored. See Arizona Laws 44-1691
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Identification document: means a valid driver license, a valid nonoperating identification license, a valid armed forces identification card or any other valid government issued photo identification. See Arizona Laws 44-1621
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Loan: means advancing money on the security of pledged goods or purchasing tangible personal property on the condition that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time. See Arizona Laws 44-1621
• Local law enforcement agency: means the chief of police, the police department or the town marshal, if applicable to a city or town, or the county sheriff, the sheriff's designee or the county sheriff's department, if applicable to a county. See Arizona Laws 44-1621
• Magistrate: means an officer having power to issue a warrant for the arrest of a person charged with a public offense and includes the chief justice and justices of the supreme court, judges of the superior court, judges of the court of appeals, justices of the peace and judges of a municipal court. See Arizona Laws 1-215
• Maturity date: means the date specified on the pawn ticket by which the pledged goods must be redeemed or the pawn ticket must be renewed. See Arizona Laws 44-1621
• Misrepresentation: means a false or misleading representation made by a person with an intent to deceive or defraud. See Arizona Laws 44-1621
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Moral turpitude: means an offense, whether a misdemeanor or felony, that is related to extortion, burglary, larceny, bribery, embezzlement, robbery, racketeering, money laundering, forgery, fraud, murder, voluntary manslaughter or a sexual offense that requires the individual to register pursuant to section 13-3821. See Arizona Laws 1-215
• 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 ticket: means the actual executed document that records the pawn transaction and describes the conditions of the loan agreement between the pawnbroker and pledgor. See Arizona Laws 44-1621
• Pawn transaction: means either the act between the pawnbroker and a person pledging tangible personal property or extending credit on the security of pledged goods or the act of purchasing tangible personal property with an express or implied agreement or understanding that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time, except that a good faith outright purchase of tangible personal property is not a pawn transaction. See Arizona Laws 44-1621
• Pawnbroker: means a person who is engaged in the business of advancing money on the security of pledged goods or is engaged in the business of purchasing tangible personal property on the condition that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time. See Arizona Laws 44-1621
• Pawnshop: means the location or premises at which a pawnbroker is licensed to regularly conduct the pawnbroker's business. See Arizona Laws 44-1621
• Person: means an individual, partnership, corporation, association, or any other entity of whatever kind or nature. See Arizona Laws 44-1691
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
• Pledged goods: means tangible personal property which is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of the pawnbroker's business in connection with the pawn transaction. See Arizona Laws 44-1621
• Pledgor: means the person leaving the personal property with the pawnbroker and executing the pawn ticket. See Arizona Laws 44-1621
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• redemption: means the act of the pledgor or the pledgor's agent of retrieving and paying in full all charges and fees for the pledged goods left with the pawnshop. See Arizona Laws 44-1621
• Reportable transaction: means any transaction conducted by a pawnbroker in which merchandise is received through a pawn, purchase, trade or consignment. See Arizona Laws 44-1621
• sell: means a sale or any other disposition of a security or interest in a security for value and includes a contract to make such sale or disposition. See Arizona Laws 44-1801
• Transaction date: means the initial date of the reportable transaction. See Arizona Laws 44-1621
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215