§ 28-7-5-36 — Unlawful transactions

Indiana § 28-7-5-36

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

Text

(a) No pawnbroker shall:
(1) receive any pledge or make a purchase from a person under
eighteen (18) years of age; or
(2) receive any pledge or make a purchase of property that the
pawnbroker believes or should have reason to believe is stolen
property acquired as a result of a crime.
(b) No pawnbroker shall purchase personal property or any other
thing of value agreeing to sell the same back to the seller at a price
other than the original purchase price, at a total charge, rate of interest,
discount, or other remuneration in excess of the rate chargeable under
sections 28 and 28.5 of this chapter.
(c) If a pawnbroker purchases personal property or any other thing
of value agreeing to sell the same back to the seller at a price other than
the original purchase price, section 30 of this chapter applies.
Formerly: Acts 1935, c.195, s.35; Acts 1973, P.L.264, SEC.4.
As amended by P.L.17-1985, SEC.22; P.L.14-1992, SEC.157;
P.L.42-1993, SEC.82; P.L.45-1995, SEC.32.