Wisconsin § 138.10 - Pawnbrokers.

§ 138.10. Pawnbrokers.

138.10(1) (1) Definitions. In this section: 138.10(1)(a) (a) “Pawnbroker” includes any person who engages in the business of lending money on the deposit or pledge of personal property, other than choses in action, securities, or written evidences of indebtedness; or purchases personal property with an expressed or implied agreement or understanding to sell it back at a subsequent time at a stipulated price. 138.10(1)(b) (b) “Pawnbroking” means the business of a pawnbroker as defined in this section. 138.10(1)(c) (c) “Pawn ticket” means the card, book, receipt or other record furnished to the pledgor at the time a loan is granted containing the terms of the contract for a loan. 138.10(1)(d) (d) “Person” includes an individual, partnership, association, business corporation, nonprofit corporation, common law trust, joint-stock company or any group of individuals however organized. 138.10(1)(e) (e) “Pledge” means an article or articles deposited with a pawnbroker as security for a loan in the course of the pawnbroker’s business as defined in par. (a) . 138.10(1)(f) (f) “Pledgor” means the person who obtains a loan from a pawnbroker and delivers a pledge into the possession of a pawnbroker, unless the person discloses that he or she is or was acting for another in which case a “pledgor” means the disclosed principal. 138.10(2) (2) Maximum loan. A pawnbroker’s loan may not exceed $150. 138.10(2m) (2m) Pawnbroking by licensed lenders. The division of banking may promulgate rules regulating the conduct of pawnbroking by persons licensed under s.