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Ind. Code § 28-7-5-30

Two month redemption period; public access prohibited; unredeemed property subject to sale

Known as the Pawnbroking Law

The act spans §§ 28-7-5-1 to 28-7-5-9.1 (52 sections).

Formerly: Acts 1935, c.195, s.29

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.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.