Sec. 22. (a) The holder of a ticket described in section 21 of this chapter shall be presumed to be the person entitled to redeem the pledge, and, except as provided in subsection (b), the pawnbroker shall deliver the pledge to the person presenting the ticket, upon payment of principal, interest and charge.

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Terms Used In Indiana Code 28-7-5-22

  • Pawnbroker: means any person, partnership, association, limited liability company, or corporation that engages in the pawn business. See Indiana Code 28-7-5-2
  • Person: means any individual, limited liability company, sole proprietorship, partnership, trust, joint venture, corporation, unincorporated organization, or other form of entity, however organized. See Indiana Code 28-7-5-2
  • Pledge: means personal property deposited with a pawnbroker as security for a loan. See Indiana Code 28-7-5-2
     (b) If a local ordinance or other law requires the retention of the pledge for a specific period of time, the pawnbroker shall comply with the local ordinance or other law if the retention period does not exceed ten (10) days.

Formerly: Acts 1935, c.195, s.22. As amended by P.L.14-1992, SEC.147; P.L.35-2010, SEC.177.

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