§ 28-7-5-30 — Two month redemption period; public access prohibited; unredeemed property subject to sale

Indiana § 28-7-5-30

• Jurisdiction: Indiana
• Art. 7: SPECIALIZED FINANCIAL INSTITUTIONS
• Ch. 5: Pawnbrokers

Text

(a) Subject to subsections (b) and (c), upon
the expiration of two (2) months from the maturity of the loan, a
pawned article becomes the property of the pawnbroker and is subject
to sale.
(b) Subsection (a) applies only if the pledger is given a reasonable
opportunity during:
(1) the term of the loan; and
(2) the two (2) month period described in subsection (a);
to repay the loan and redeem the pawned article.
(c) During the term of the loan and the two (2) month period
described in subsection (a), the pawnbroker may not allow the public
to have access to the pawned article.
Formerly: Acts 1935, c.195, s.29. As amended by P.L.271-1985,
SEC.1; P.L.14-1992, SEC.154; P.L.80-1998, SEC.19; P.L.163-2001,
SEC.6; P.L.258-2003, SEC.14; P.L.10-2006, SEC.48 and P.L.57-2006,
SEC.48; P.L.213-2007, SEC.74; P.L.217-2007, SEC.72; P.L.27-2012,
SEC.98; P.L.216-2013, SEC.38.