Ind. Code § 28-7-5-24

Current through P.L. 171-2024

Section 28-7-5-24 - Partial payment before maturity

Upon the pledger's:

(1) presentation of the pawn ticket before maturity of the underlying loan;

(2) payment of accrued interest and any authorized additional charge; and

(3) tender of not less than one dollar ($1) of the principal balance;

the pawnbroker shall accept the items set forth in subdivisions (1) through (3), showing due credit of principal payment on the pawn ticket, together with the amount of unpaid principal balance, or issue a new ticket for the reduced amount. Future interest charges and any authorized additional charge shall be computed on the unpaid principal balance.

IC 28-7-5-24

Amended by P.L. 159-2017,SEC. 43, eff. 7/1/2017.

Formerly: Acts 1935, c.195, s.24.