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This entry was published on 2014-09-22
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SECTION 52
Term "collateral loan broker", how to be construed
General Business (GBS) CHAPTER 20, ARTICLE 5
§ 52. Term "collateral loan broker", how to be construed. The term
"collateral loan broker" contained in this article shall be construed so
as to include any person, partnership, or corporation: (1) loaning money
on deposit or pledge of personal property, other than securities or
printed evidences of indebtedness; or (2) dealing in the purchasing of
personal property on condition of selling back at a stipulated price; or
(3) designated or doing business as furniture storage warehousemen, and
loaning and advancing money upon goods, wares or merchandise pledged or
deposited as collateral security.