Legislation
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.
"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.