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2019 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 726 - Pawnbrokers
Section 726.370 - Multiple claimants of pledge; interpleader.
Universal Citation: OR Rev Stat § 726.370 (2019)
(1) If more than one person claims the right to redeem a pledge, the pawnbroker is not liable for refusing to deliver the pledge until the respective rights of the claimants have been adjudicated unless the pawnbroker fails to verify whether the pledge is subject to a lien or other encumbrance, if the pledge is:
(a) A boat, as defined in ORS 830.005;
(b) A snowmobile, as defined in ORS 801.490;
(c) A trailer, as described in ORS 726.010 (2)(a)(D); or
(d) An all-terrain vehicle that is not required to be registered with the Department of Transportation.
(2) In an action brought against the pawnbroker for recovery of the pledge, the pawnbroker may as a defense require all known claimants to interplead.
(3) If either claimant does not bring an action against the pawnbroker within 30 days after notice of an adverse claim, the pawnbroker may dispose of the pledge as provided in this chapter. [Amended by 2013 c.261 §3]
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