Indiana § 28-7-5-19 Loan record requisites; data recording methods

Indiana Statutes

§ 28-7-5-19 — Loan record requisites; data recording methods

Indiana § 28-7-5-19

Art. 7SPECIALIZED FINANCIAL INSTITUTIONS

Ch. 5Pawnbrokers

This text of Indiana § 28-7-5-19 (Loan record requisites; data recording methods) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-7-5-19 (2026).

Text

(a)Every pawnbroker shall keep a record in ink that must include the following:

(1)The name, date of birth, and address of the pledger, or where the pledge is made by a person acting as agent for a disclosed principal, the names, dates of birth, and addresses of principal and agent.

(2)The date of the transaction.

(3)The amount of the loan.

(4)The article or articles pledged, and a description of the articles. However, if multiple articles of a similar nature that do not contain an identification or serial number (such as precious metals, gemstones, musical recordings, video recordings, books, or hand tools) are delivered together in one (1) transaction, the description of the articles is adequate if the description contains the quantity of the articles delivered and a physical descri

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Every pawnbroker shall keep a record in
ink that must include the following:
(1) The name, date of birth, and address of the pledger, or where
the pledge is made by a person acting as agent for a disclosed
principal, the names, dates of birth, and addresses of principal and
agent.
(2) The date of the transaction.
(3) The amount of the loan.
(4) The article or articles pledged, and a description of the
articles. However, if multiple articles of a similar nature that do
not contain an identification or serial number (such as precious
metals, gemstones, musical recordings, video recordings, books,
or hand tools) are delivered together in one (1) transaction, the
description of the articles is adequate if the description contains
the quantity of the articles delivered and a physical description of
the type of articles delivered, including any other unique
identifying marks, numbers, names, letters, or special features.
(5) The serial number of the loan.
(6) The date on which each loan was paid in full, renewed, or
unredeemed.
(7) An itemization of principal, interest, and additional fees
collected.
(8) An itemization of fees authorized under IC 28-7-5-25.
(9) The total of all charges collected.
(10) The type of government issued identification used to verify
the identity of the seller, together with the name of the
governmental agency that issued the identification, and the
identification number present on the government issued
identification.
(b) Other methods of recording data, such as electronic or
computerized methods, may be used provided written printouts or hard
copies of the required data are readily available. The record keeping
system of a licensee shall be made available in Indiana for
examination. The department shall determine the sufficiency of the
records and whether the licensee has made the required information
reasonably available.
Formerly: Acts 1935, c.195, s.19. As amended by P.L.14-1992,
SEC.144; P.L.42-1993, SEC.79; P.L.80-1998, SEC.16; P.L.163-2001,
SEC.3.