(1) Definitions. In this Section the following definitions apply:

(a) Pawnbroker. Any person who:

(.1) engages in the business of lending money on the deposit or pledge of personal property, other than chooses in action, securities or written evidence of indebtedness; or

(.2) purchases personal property with an expressed or implied agreement or understanding to sell it back at a subsequent time at a stipulated price; or

(.3) lends money upon goods, wares or merchandise pledged, stored or deposited as collateral security.

(b) Pledge. An article deposited with a pawnbroker as security for a loan in the course of his business.

(c) Pledger. 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 is or was acting for another in which case "pledger" means the disclosed principal.

(d) Pawn Ticket. The card, book, receipt or other record furnished to the pledger at the time a loan is granted containing the terms of the contract.

(2) Licenses.

(a) No person shall act as a pawnbroker unless he has obtained a license from the Department of Licenses and Inspections.

(b) No license to act as pawnbroker shall be issued unless the applicant:

(.1) has been licensed by the Commonwealth of Pennsylvania as required by the Act of April 6, 1937, P.L. 200, 63 P.S. § 281. as amended;

(.2) pays an annual license fee of $600.^[476]

(3) General Requirements.

(a) No pawnbroker shall transact any business on Sunday.

(b) No pawnbroker shall accept any pledge or effect any redemption before 8:30 A.M. or after 5 P.M., except that pawnbrokers may accept pledges or effect redemptions until 9 P.M. on Friday and until 6 P.M. on Saturday.^[477]

(c) Every pawnbroker shall turn over to the Police Department at the end of each day a copy of every pawn ticket furnished to any pledger.