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Ind. Code § 28-7-5-36

Unlawful transactions

Known as the Pawnbroking Law

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

Applied in 1 court decision — leading case DEANG (2017)

Most recently applied in DEANG (July 2017)

Formerly: Acts 1935, c.195, s.35; Acts 1973, P.L.264, SEC.4

Sec. 36. (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.

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