§ 22-41. Definitions.

(a)

Commercially reasonable means a sale or a disposal which occurs and can be construed as an arms-length transaction. Public sales or disposal of personal property between licensees and business affiliates or family members are sales and disposal which are presumed not to be commercially reasonable.

(b)

Motor vehicle shall mean an automobile, motorcycle, truck, trailer, semi-trailer, truck/tractor and semi-trailer combination, or any other vehicle operated on public highways and streets, used to transport persons or property.

(c)

Title loan agreement means a written agreement whereby a secondhand dealer agrees to make a loan of a specific sum of money to the owner of a motor vehicle, and the owner of motor vehicle agrees to give the secondhand dealer a security interest in an unencumbered motor vehicle certificate of title owned by the borrower.

(d)

Secondhand dealer shall mean any person, corporation, or other business entity who is engaged in the business of making title loans or engaging in title loan agreements with borrowers, as defined in chapter 538, Florida Statutes, as may be amended.

(Ord. No. 99-19, § 3, 9-28-99)