Indiana § 28-7-5-23 Redemption by mail; compliance with local ordinance or law
concerning pledge retention

Indiana Statutes

§ 28-7-5-23 — Redemption by mail; compliance with local ordinance or law concerning pledge retention

Indiana·Art. 7 SPECIALIZED FINANCIAL INSTITUTIONS·Ch. 5 Pawnbrokers

(a)Except as provided in subsection (b), when a ticket, instead of being presented in person, is sent to the pawnbroker by mail, accompanied with a money order for the total amount due and a reasonable fee for shipping and handling, the pawnbroker may securely pack and forward the pledge to the pledger in accordance with the remitter's instructions. If the remittance is insufficient to cover the amount due, the pawnbroker shall either notify the remitter of the amount of the deficiency or send the pledge subject to the payment of shipping charges by the consignee. The pawnbroker's liability for the pledge shall cease upon delivery of the pledge to the carrier or his agent.

(b)If a local ordinance or other law requires the retention of the pledge for a specific period, the pawnbroker shal

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(a) Except as provided in subsection (b),
when a ticket, instead of being presented in person, is sent to the
pawnbroker by mail, accompanied with a money order for the total
amount due and a reasonable fee for shipping and handling, the
pawnbroker may securely pack and forward the pledge to the pledger
in accordance with the remitter's instructions. If the remittance is
insufficient to cover the amount due, the pawnbroker shall either notify
the remitter of the amount of the deficiency or send the pledge subject
to the payment of shipping charges by the consignee. The pawnbroker's
liability for the pledge shall cease upon delivery of the pledge to the
carrier or his agent.
(b) If a local ordinance or other law requires the retention of the
pledge for a specific period, the pawnbroker shall comply with the local
ordinance or other law if the retention period does not exceed ten (10)
days.
Formerly: Acts 1935, c.195, s.23. As amended by P.L.14-1992,
SEC.148; P.L.35-2010, SEC.178.

Indiana § 28-7-5-23 (Redemption by mail; compliance with local ordinance or law concerning pledge retention) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.