§ 26-72. Definitions.
[The following words, terms and phrases, as used in this article, shall have the meanings respectively ascribed to them in this section, unless the context clearly indicates otherwise:]
Interest means the cost of obtaining a title loan and includes any profit or advantage of any kind whatsoever that a title loan lender may charge, contract for, collect, receive, or in any way obtain, including, by means of any collateral sale, purchase or agreement as a condition of the title loan.
Loan property means any motor vehicle certificate of title that is deposited with a title loan lender in the course of the title loan lender's business and is the security subject of a title loan agreement.
Motor vehicle means an automobile, motorcycle, truck, trailer, semitrailer, tractor and semitrailer combination or any other vehicle operated on public highways and streets, used to transport persons or property, and propelled by power other than muscular power, but excluding vehicles which run only upon a track.
Person includes but is not limited to any individual, corporation, company, association, firm, partnership, society or joint stock company.
Title loan means a loan of money secured by bailment of a certificate of title to a motor vehicle.
Title loan agreement means a written agreement whereby the title loan lender agrees to make a loan of a specific sum of money to a borrower and the borrower agrees to give the title loan lender a security interest in an unencumbered motor vehicle certificate owned by the borrower.
Title loan lender means any person, corporation, or other business organization or entity that is engaged in the business of making title loans or engaging in title loan agreements with borrowers, which includes but is not limited to secondhand dealers as defined in F.S. ch. 538, as may be amended from time to time.
Title loan office means the location at which, or premises from which, a title loan lender regularly conducts business.
Title loan transaction means any title loan of a motor vehicle from lender to borrower for money.
Title loan transaction form(s) means the instrument(s) on which a title loan lender records title loan agreements.
Titled personal property means a motor vehicle that has as evidence of ownership a state-issued certificate of title.
(Ord. No. 99-21, § I, 7-1-99)