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California Legal Forms--Transaction Guide
 
Copyright 2016, Matthew Bender & Company, Inc., a member of the LexisNexis Group.


32-102B California Legal Forms--Transaction Guide 102B.syn


Title

Pawnbrokers, Finance Lenders, and Secondhand Goods Dealers

Author

Matthew Bender Editorial Staff

Chapter Summary


ABSTRACT TEXT:

This chapter discusses personal property transactions involving pawnbrokers, finance lenders, and secondhand goods dealers. The chapter's research guide contains the relevant California constitutional provisions, statutes, regulations, and Attorney General opinions, as well as federal statutes and regulations.

The legal background section begins with a discussion of pawnbrokers, which are persons engaged in the business of receiving goods in pledge as security for a loan. The section notes that such transactions are governed by Division 9 of the Commercial Code and the Pawnbroker Law. The legal background then discusses the requirements related to the licensing of pawnbrokers, permissible charges for loans, disclosures in the loan agreement, and recordkeeping and reporting, as well as the procedures related to recovering stolen property in the pawnbroker's possession. The legal background also defines and discusses finance lenders, and explains that their transactions are governed by Division 9 of the Commercial Code and the Finance Lenders Law. The section discusses the requirements related to the licensing of finance lenders, consumer loans, commercial loans, permissible charges for loans, and recordkeeping and reporting. In addition, the legal background describes a secondhand goods dealer, and details requirements concerning the licensing of dealers, recordkeeping and reporting, and the holding period during which the dealer must retain possession of the personal property.

The chapter's transaction guide lists the facts and documents needed, the preliminary determinations to be made, and the procedures to follow for transactions with pawnbrokers, finance lenders, and secondhand goods dealers.

The forms section includes forms for pawnbroker transactions, including a pawnbroker loan agreement, a notice of the termination of a loan period, and a pawnbroker's report of the acquisition of tangible personal property; finance lender transactions, including loan statements and various notices; and secondhand dealer transactions, including a report of the acquisition of secondhand goods.

California Legal Forms: Transaction Guide (Matthew Bender) provides step-by-step guidance through all non-litigation business and personal transactions that are likely to arise in day-to-day practice, offering guidance through the drafting and filing of all the requisite forms. Topics include business organizations, real estate transactions, commercial transactions, wills and trust, contracts and obligations, performance of services, and personal transactions (including marital dissolution agreements). Each chapter includes four parts: a Research Guide, Legal Background, Transaction Guide, and Forms.

CORE TERMS:

Pawnbroker,Finance Lender,Lender,Secondhand Goods,Pledge,Security,Loan,Short-Term Loan,Storage Fee,California Commercial Code,Pawnbroker Law,Licensing,Loan Agreement,Stolen Property,Consumer Loan,Commercial Loan,Personal Property,Collateral,Borrower,Finance Lenders Law,Consignment,Auction,Pawnbroker Loan,Termination of Loan Period,Taking in Pawn,Holding Period,Redemption

OTHER RELATED CHAPTERS: (View)

For a discussion of Division 9 of the Commercial Code, which regulates pledges of personal property as security for loans of money or goods when pawnbrokers or finance lenders are not involved in the transaction, see Ch. 42, Secured Transactions.

For a discussion of commercial loans, see Ch. 43, Commercial Loans.

For a discussion of consumer installment loans, see Ch. 45, Consumer Installment Loans and Credit Sales.

OTHER RELATED PUBLICATIONS:

For further discussion of pawnbrokers, finance lenders, and secondhand goods dealers, see:
  • California Forms of Pleading and Practice--Annotated, Ch. 57, ArtCalifornia Forms of Pleading and Practice--Annotated, Ch. 57, Art; Ch. 501, Sales: Retail Installment Sales; and Ch. 568, Usury (Matthew Bender).
  • Rabkin & Johnson, Current Legal Forms with Tax Analysis, Ch. 6, Credit and Finance (Matthew BenderRabkin & Johnson, Current Legal Forms with Tax Analysis, Ch. 6, Credit and Finance (Matthew Bender).
  • UCC Secured Transactions, Ch. 20A, Secured Consumer Credit and the Fringe Banking Industry (Matthew Bender).
 
 
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