§ 5.20.100. Holding period—Sale of articles.  


Latest version.
  • A.

    Articles deposited in pawn with a licensed pawnbroker shall, unless redeemed, be retained by the pawnbroker on the premises occupied by the pawnbroker for his or her business for at least four months after the date of deposit, if not of a perishable nature and if perishable, for at least one month after such date. After such date, the pawnbroker may sell the same by public auction, apply the proceeds thereof in satisfaction of the debt or demand and the expense of the notice and sale, and pay such surplus to the person entitled thereto on demand; provided, that after the expiration of the applicable period of time, no such sale of any article of a nonperishable nature shall be made unless not less than ten days before the sale a written notice of the intended sale has been sent by registered mail to the person entitled to the payment of any surplus, addressed to that person's residence, as appearing in the records of such pawnbroker.

    B.

    No article taken in pawn by such pawnbroker exceeding twenty-five dollars in value shall be disposed of otherwise than as provided in subsection A of this section, any agreement or contract between the parties thereto to the contrary notwithstanding.

    C.

    Articles of personal apparel shall not be deemed to be of a perishable nature within the meaning of this section.

(Prior revision § 14-10)