Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part V - Pawnbrokers
Chapter 65 - PAWN TICKETS
Section 65.6 - Loss of pledgor's copy

Universal Citation: 10 PA Code ยง 65.6

Current through Register Vol. 54, No. 12, March 23, 2024

(a) When the pledgor's copy of a pawn ticket is lost, destroyed, or stolen the pledgor shall notify the licensee by registered mail or in person. Upon such notice, the licensee shall either:

(1) Issue a "stop ticket."

(2) Issue a duplicate ticket.

(3) Redeem the pledge.

(4) Pay any surplus from the sale of a pledge upon receipt of an affidavit or written statement, as provided in subsection (c).

(b) When issuing a "stop ticket" or a duplicate ticket to a pledgor, the next available serially numbered ticket shall be used for this purpose. The loan register shall indicate the number of the original pledge for which such duplicate ticket has been issued. The printed serial number on the duplicate ticket shall be ruled out and the number of the original pledge inserted.

(c) Licensees shall obtain from the pledgor an affidavit or written statement as to the loss, destruction or theft of a pawn ticket.

(d) Licensees may seize any pawn ticket presented to them which was previously reported lost, destroyed or stolen, and they may do so without incurring any liability to the holder of the ticket.

(e) The affidavit or statement described in subsection (c), upon renewal or redemption, shall be filed in the surrendered pawn tickets file in lieu of the copy of the pledgor.

This section cited in 10 Pa. Code § 65.5 (relating to surrendered tickets); and 10 Pa. Code § 65.7 (relating to negotiability).

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