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2018 Indiana Code
TITLE 28. Financial Institutions
ARTICLE 7. SPECIALIZED FINANCIAL INSTITUTIONS
CHAPTER 5. Pawnbrokers
28-7-5-24. Partial payment before maturity
Universal Citation: IN Code § 28-7-5-24 (2018)
IC 28-7-5-24 Partial payment before maturity
Sec. 24. 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.
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