Oregon Revised Statutes Chapter 726 § 726.010 — Definitions

Definitions. As used in this chapter: (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]