Bill Text: OR HB2066 | 2013 | Regular Session | Enrolled
Bill Title: Relating to pawnbrokers.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2013-06-04 - Chapter 261, (2013 Laws): Effective date January 1, 2014. [HB2066 Detail]
Download: Oregon-2013-HB2066-Enrolled.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session
Enrolled
House Bill 2066
Sponsored by Representative NATHANSON (at the request of Oregon
Pawnbrokers Association) (Presession filed.)
CHAPTER ................
AN ACT
Relating to pawnbrokers; amending ORS 726.010, 726.280, 726.370
and 726.380.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 726.010 is amended to read:
726.010. As used in this chapter { - , unless the context
requires otherwise - } :
{ - (1) 'Director' means the Director of the Department of
Consumer and Business Services. - }
{ - (2) - } { + (1) + } 'Pawnbroker' means { - any - }
{ + a + } person, copartnership, association or
corporation { + that + }:
(a) { - Lending - } { + Lends + } money at a
{ - higher - } rate of interest { + greater + } than 10
percent per annum on the deposit or pledge of personal property
{ - other than choses in action, vehicles required by law to be
registered with the Department of Transportation, securities or
printed evidences of indebtedness - } ;
(b) { - Purchasing any - } { + Purchases + } personal
property { - other than choses in action, vehicles required by
law to be registered with the Department of Transportation,
securities or printed evidences of indebtedness - } on the
direct or implied condition of selling
{ - it - } { + the personal property + } back at a stipulated
price that would amount to { - the payment of - } { +
paying + } interest or consideration in excess of 10 percent per
annum; or
(c) { - Doing - } { + Does + } business as { + a + }
storage { - warehouseman - } { + warehouse operator + } and
{ - lending - } { + lends + } money at a { - higher - }
rate of interest { + greater + } than 10 percent per annum upon
goods, wares, merchandise or personal property pledged or
deposited as collateral security { - other than vehicles
required by law to be registered with the Department of
Transportation - } .
{ + (2)(a) 'Personal property' means tangible property a
person owns, including:
(A) Chattels and moveables, such as merchandise, furniture,
goods, machinery, tools and equipment, supplies and media;
(B) Pledges that are not required to be registered with the
Department of Transportation;
(C) Snowmobiles, as defined in ORS 801.490;
Enrolled House Bill 2066 (HB 2066-A) Page 1
(D) Trailers that have a loaded weight of not more than 8,000
pounds and that are designed or manufactured, or are otherwise
suitable, for carrying a boat, snowmobile or all-terrain vehicle;
and
(E) Equipment used for farming.
(b) 'Personal property' does not include:
(A) Pledges that are required to be registered with the
Department of Transportation, unless the pledge is a snowmobile
or a trailer described in paragraph (a) of this subsection;
(B) Choses in action;
(C) Securities or printed evidence of indebtedness; or
(D) Intangible property. + }
(3) 'Pledge' means { - any article - } { + personal
property + } deposited with a pawnbroker in the course of the
business of the pawnbroker { - as defined in subsection (2) of
this section - } .
(4) 'Pledgor' means { - the - } { + a + } person who
delivers a pledge into the possession of a pawnbroker, unless the
person discloses that the person is or was acting for another, in
which event ' pledgor' means the disclosed principal.
(5) 'Pledge loan' means a loan { - made by - } { + that + }
a pawnbroker { + makes + } to a pledgor and { + that is + }
secured by a pledge.
SECTION 2. ORS 726.280 is amended to read:
726.280. (1) Every pawnbroker shall keep a register in which
{ - shall be recorded - } { + the pawnbroker records + } in
ink or in electronic form:
(a) The date of the transaction.
(b) The serial number of the pledge loan.
(c) The name and address of the pledgor, or if { - the pledge
is made by - } a person acting as agent for a disclosed
principal { + makes a pledge + }, the name and address of
{ + the + } principal and { + the + } agent.
(d) An identifying description of the { - article or articles
pledged - } { + pledge + }.
(e) The amount of the pledge loan.
(f) The date on which { - such - } { + the + } pledge loan
was canceled.
(g) A notation as to whether { - it - } { + the pledge + }
was redeemed or renewed, or whether the pledge was forfeited.
{ + (h) A notation that indicates that a lien search of the
pledge has been conducted in the pledgor's county of residence or
with the state agency that is responsible for recording liens on
the category of property to which the pledge belongs. + }
(2) All entries in the register { - shall - } { + must + }
be made in the English language and { - shall - } { +
must + } be open to the inspection of any public official, police
officer or any other person who is duly authorized or empowered
by the laws of this state to make { - such - } { + an + }
inspection.
(3) Every pawnbroker shall maintain an alphabetical file from
which can be determined the total obligations of any one pledgor.
(4) Subject to the provisions of this chapter, the Director of
the Department of Consumer and Business Services may prescribe
the form of other books and records { - to be kept by - } the
pawnbroker { + must keep + }. All records shall be preserved
and available for at least two years after making the final entry
on any pledge loan recorded { - therein - } { + in the books
or records + }.
SECTION 3. ORS 726.370 is amended to read:
Enrolled House Bill 2066 (HB 2066-A) Page 2
726.370. { + (1) + } If more than one person claims the right
to redeem a pledge, the pawnbroker { - shall incur no
liability - } { + is not liable + } for refusing to deliver the
pledge until the respective rights of the claimants have been
adjudicated { + unless the pawnbroker fails to verify whether
the pledge is subject to a lien or other encumbrance, if the
pledge is:
(a) A boat, as defined in ORS 830.005;
(b) A snowmobile, as defined in ORS 801.490;
(c) A trailer, as described in ORS 726.010 (2)(a)(D); or
(d) An all-terrain vehicle that is not required to be
registered with the Department of Transportation + }.
{ + (2) + } In { - case of - } an action brought against
the pawnbroker for recovery of the pledge, the pawnbroker may as
a defense require all known claimants to interplead.
{ + (3) + } If { - no action is brought against the
pawnbroker by either claimant - } { + either claimant does not
bring an action against the pawnbroker + } within 30 days after
notice of an adverse claim { + , + } the pawnbroker may
{ - proceed to - } dispose of the pledge as provided in this
chapter.
SECTION 4. ORS 726.380 is amended to read:
726.380. { + (1) + } A pawnbroker { - shall be - } { +
is + } liable for the loss of a pledge or a part
{ - thereof - } { + of a pledge + } or for { - injury
thereto resulting - } { + an injury to a pledge that
results + } from failure to exercise reasonable care. { - Such
care shall include - } { + Reasonable care includes + }
maintaining sufficient insurance coverage against possible loss
{ - due to - } { + as a result of + } fire, theft and burglary
so as to protect the interest of the pledgor for the amount of
the loan. { - In case of loss the burden of proof to establish
due care shall be upon the pawnbroker. - }
{ + (2) A pawnbroker shall hold a pledge in a gated, secured
facility that is designed, constructed, furnished and maintained
to present physical deterrents to a person's ability to enter
into the facility without authorization and remove the pledge, if
the pledge is:
(a) A boat, as defined in ORS 830.005;
(b) A snowmobile, as defined in ORS 801.490;
(c) A trailer, as described in ORS 726.010 (2)(a)(D); or
(d) An all-terrain vehicle that is not required to be
registered with the Department of Transportation.
(3) The pawnbroker has the burden of proof to establish due
care if a pledge is lost.
(4) + }The pawnbroker { - shall have - } { + has + } a
first lien on any pledge for the amount of the pledge loan and
interest in all cases except where goods are stolen or where a
prior lien exists by virtue of any provision of law.
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Enrolled House Bill 2066 (HB 2066-A) Page 3
Passed by House March 19, 2013
.............................................................
Ramona J. Line, Chief Clerk of House
.............................................................
Tina Kotek, Speaker of House
Passed by Senate May 22, 2013
.............................................................
Peter Courtney, President of Senate
Enrolled House Bill 2066 (HB 2066-A) Page 4
Received by Governor:
......M.,............., 2013
Approved:
......M.,............., 2013
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2013
.............................................................
Kate Brown, Secretary of State
Enrolled House Bill 2066 (HB 2066-A) Page 5
