Indiana § 28-7-5-35 Conflicting claims; sale of pledge subject to adjudication

Indiana Statutes

§ 28-7-5-35 — Conflicting claims; sale of pledge subject to adjudication

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

If more than one (1) person shall claim the
right to redeem a pledge, the pawnbroker shall incur no liability for
refusing to deliver the pledge until the respective rights of the
claimants shall have been adjudicated. If no action be brought against
the pawnbroker by either party within the period for which the
pawnbroker is required under section 30 of this chapter to hold the
pledge, or within one (1) month after notice of an adverse claim, the
pawnbroker may proceed to sell the pledge subject to adjudication of
the parties' rights.
Formerly: Acts 1935, c.195, s.34. As amended by P.L.263-1985,
SEC.196; P.L.14-1992, SEC.156; P.L.258-2003, SEC.15.

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

If more than one (1) person shall claim the
right to redeem a pledge, the pawnbroker shall incur no liability for
refusing to deliver the pledge until the respective rights of the
claimants shall have been adjudicated. If no action be brought against
the pawnbroker by either party within the period for which the
pawnbroker is required under section 30 of this chapter to hold the
pledge, or within one (1) month after notice of an adverse claim, the
pawnbroker may proceed to sell the pledge subject to adjudication of
the parties' rights.
Formerly: Acts 1935, c.195, s.34. As amended by P.L.263-1985,
SEC.196; P.L.14-1992, SEC.156; P.L.258-2003, SEC.15.

Indiana § 28-7-5-35 (Conflicting claims; sale of pledge subject to adjudication) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.