Article 1. Definitions of California Financial Code >> Division 8. >> Chapter 1. >> Article 1.
Every person engaged in the business of receiving goods,
including motor vehicles, in pledge as security for a loan is a
pawnbroker within the meaning of this division.
As used in this division "receiving goods as security for
a loan" does not include a good faith purchase of goods.
"Compensation" includes expenses, interest, disbursements,
storage charges, and all other charges of any nature in connection
with a loan or forbearance.
(a) As used in this division, "pledged property" is property
held as security for a loan, the title to which remains with the
pledgor and has not passed to the pawnbroker pursuant to Section
(b) "Vested property" is property the title to which has been
transferred from the pledgor to the pawnbroker pursuant to Section
21201. Vested property is not pledged property.
For purposes of this division, the term "month" means a
period of time consisting of 30 consecutive calendar days.