§ 5.40.060. Interest rates.

Latest version.

All pawnbrokers are authorized to charge and receive interest at the rate of four percent a month for money loaned on the security of personal property actually received in pledge, and no person shall ask or receive a higher rate of interest or discount on any such loan, or on any actual or pretended sale or redemption of personal property. For any loan made, a pawnbroker may make a minimum charge of three dollars.

(Prior code §18A-6(a)).

                    
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