§ 61.1. Definitions.
The following words and terms, when used in this part, have the following meanings, unless the context clearly indicates otherwise:
ActThe Pawnbrokers License Act (63 P. S. § 281-1281-32).
CapitalTangible net worth which shall be maintained at all times by the licensee.
ChargesThe aggregate total of interest, fees for storage, insurance, investigation and other services rendered by pawnbrokers licensed under the statutes of the Commonwealth.
DepartmentThe Department of Banking and Securities of the Commonwealth.
Initial applicantAn individual, partnership, association, business corporation, nonprofit corporation, common law trust, joint-stock company or any group of individuals however organized applying for a license under the act or any person appearing as owner, partner, officer, director, trustee or other official of a partnership, association, business corporation, nonprofit corporation, common law trust, joint-stock company or any group of individuals however organized, on the application for license under the act. This applicant for license does not possess a license for the license term that expires immediately prior to the term being applied for regarding the proposed license location.
LicenseA license issued by the Secretary under the act that permits an initial applicant or renewal applicant to engage in the pawnbroker business at a particular business location to the extent provided in the licenses terms.
LicenseeA pawnbroker licensed by the Department to do business under this part.
MonthThe period elapsing between a certain date in 1 calendar month, to and including the same date in the next succeeding month.
MunicipalityThe term includes a city, town, borough or township.
Newspaper notice of renewal applicationA written notice in a form prescribed by the Department. This notice shall be advertised in a newspaper of general circulation by a renewal applicant for a pawnbrokers renewal license. The advertisement shall be in a form prescribed by the Department.
Newspaper of general circulationA newspaper issued daily, or not less than once per week, intended for general distribution and circulation, sold at fixed prices per day or week, published in the English language, which satisfies the requirements of 45 Pa.C.S. Part I (relating to preliminary provisions).
(i) The newspaper shall be:
(A) A newspaper which is one of general circulation in the county and is published in the city, borough or township in which the pawnbrokers office is to be located or already is located.
(B) If there is no newspaper as described in clause (A), a newspaper of general circulation in the county, published at the county seat.
(C) If there is no newspaper as described in clause (B), a newspaper of general circulation published in the county at the place nearest such city, borough or township.
(D) If there is no newspaper as described in clause (C), the newspaper of general circulation published at the place nearest the city, borough or township in an adjoining county.
(ii) The newspaper publications required by the act and this part shall be at the cost of the applicant for license.
Newspaper notice of hearingThe written notice in a form prescribed by the Department. The notice shall be published in a newspaper of general circulation by an initial applicant for a new pawnbrokers license.
Notice of initial application and hearingThe written notice in a form prescribed by the Department. The notice is shall be posted by an initial applicant for a new pawnbrokers license at the proposed pawnbrokers business location, as further specified in this part.
Renewal applicantThe definition of initial applicant shall be applied, except that this applicant for license does possess a license for the license term that expires immediately prior to the renewal term being applied for regarding the licensed location.
ResidentA person as defined in section 2 of the act (63 P. S. § 281-2) residing or operating at an address within 500 feet of an initial applicants proposed new pawnbrokers business location.
SecretaryThe Secretary of the Department or a person designated by the Secretary. This definition contemplates, among other things, that a designee of the Secretary may preside over a hearing required by the act.
The provisions of this § 61.1 amended December 26, 1997, effective December 27, 1997, 27 Pa.B. 6796. Immediately preceding text appears at serial page (237535).
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.