2018 Indiana Code
TITLE 28. Financial Institutions
ARTICLE 7. SPECIALIZED FINANCIAL INSTITUTIONS
CHAPTER 5. Pawnbrokers
28-7-5-30. Two month redemption period; public access prohibited; unredeemed property subject to sale
Sec. 30. (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.
