Oregon Statutes 726.010 – Definitions
As used in this chapter:
Terms Used In Oregon Statutes 726.010
- 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.
- 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.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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
- Personal property: means tangible property a person owns, including:
(A) Chattels and movables, such as merchandise, furniture, goods, machinery, tools and equipment, supplies and media;
(B) Pledges that are not required to be registered with the Department of Transportation;
(C) Snowmobiles, as defined in ORS § 801. See Oregon Statutes 726.010
- Personal property: All property that is not real property.
- Pledge: means personal property deposited with a pawnbroker in the course of the business of the pawnbroker. See Oregon Statutes 726.010
- Pledgor: means a person who delivers a pledge into the possession of a pawnbroker, unless the person discloses that the person is or was acting for another, in which event 'pledgor' means the disclosed principal. See Oregon Statutes 726.010
(1) ‘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.
(2)(a) ‘Personal property’ means tangible property a person owns, including:
(A) Chattels and movables, such as merchandise, furniture, goods, machinery, tools and equipment, supplies and media;
(B) Pledges that are not required to be registered with the Department of Transportation;
(C) Snowmobiles, as defined in ORS § 801.490;
(D) Trailers that have a loaded weight of not more than 8,000 pounds and that are designed or manufactured, or are otherwise suitable, for carrying a boat, snowmobile or all-terrain vehicle; and
(E) Equipment used for farming.
(b) ‘Personal property’ does not include:
(A) Pledges that are required to be registered with the Department of Transportation, unless the pledge is a snowmobile or a trailer described in paragraph (a) of this subsection;
(B) Choses in action;
(C) Securities or printed evidence of indebtedness; or
(D) Intangible property.
(3) ‘Pledge’ means personal property deposited with a pawnbroker in the course of the business of the pawnbroker.
(4) ‘Pledgor’ means a person who delivers a pledge into the possession of a pawnbroker, unless the person discloses that the person is or was acting for another, in which event ‘pledgor’ means the disclosed principal.
(5) ‘Pledge loan’ means a loan that a pawnbroker makes to a pledgor and that is secured by a pledge. [Amended by 1971 c.168 § 1; 1985 c.762 § 135; 1987 c.373 § 71; 1993 c.744 § 27; 2013 c.261 § 1]