California Revenue and Taxation Code

§ 6010.15

RTC § 6010.15 Effective Sep 16, 2021Div. 2 · Part 1 · Ch. 1

Statute text

(a)“Sale” and “purchase” for the purposes of this part do not include the transfer of title to vested property by a pawnbroker to a person who pledged the property to the pawnbroker as security for a loan and from whom title to the property transferred to the pawnbroker pursuant to Section 21201 of the Financial Code, if all of the following requirements are met:

(1)The transfer occurs no more than six months after title to the property transferred to the pawnbroker from the person pursuant to Section 21201 of the Financial Code.

(2)As consideration for the transfer of the property, the person is required to pay the pawnbroker only the remaining unpaid balance of the loan, including accrued charges and interest, as of the date the pawnbroker becomes vested with title to the property, together with one of the following:

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Legislative history

Amended by Stats. 2021, Ch. 164, Sec. 1. (AB 296) Effective September 16, 2021. Repealed as of January 1, 2027, by its own provisions.