Indiana § 28-7-5-24 Partial payment before maturity

Indiana Statutes

§ 28-7-5-24 — Partial payment before maturity

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

Upon the pledger's:

(1)presentation of the pawn ticket before maturity of the underlying loan;

(2)payment of accrued interest and any authorized additional charge; and

(3)tender of not less than one dollar ($1) of the principal balance; the pawnbroker shall accept the items set forth in subdivisions (1) through (3), showing due credit of principal payment on the pawn ticket, together with the amount of unpaid principal balance, or issue a new ticket for the reduced amount. Future interest charges and any authorized additional charge shall be computed on the unpaid principal balance. Formerly: Acts 1935, c.195, s.24. As amended by P.L.159-2017, SEC.43.

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

Upon the pledger's:
(1) presentation of the pawn ticket before maturity of the
underlying loan;
(2) payment of accrued interest and any authorized additional
charge; and
(3) tender of not less than one dollar ($1) of the principal balance;
the pawnbroker shall accept the items set forth in subdivisions (1)
through (3), showing due credit of principal payment on the pawn
ticket, together with the amount of unpaid principal balance, or issue
a new ticket for the reduced amount. Future interest charges and any
authorized additional charge shall be computed on the unpaid principal
balance.
Formerly: Acts 1935, c.195, s.24. As amended by P.L.159-2017,
SEC.43.

Indiana § 28-7-5-24 (Partial payment before maturity) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.