(a) A pawnbroker shall have a lien on the pledged goods pawned for the money advanced and the pawnshop charge owed, but not for other debts due to the pawnbroker, subject to the rights of other persons who have an ownership interest or prior liens in the pledged goods. The pawnbroker shall retain possession of the pledged goods except as otherwise herein provided until the lien is satisfied.
(b) Pledged goods not redeemed on or before the maturity date if fixed and set out in the pawn ticket issued in connection with any transaction shall be held by the pawnbroker for 30 days following that date and may be redeemed or repurchased by the pledgor or seller within the period by the payment of the originally agreed redemption price, and by the payment of an additional pawnshop charge equal to the original pawnshop charge.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 19A - Alabama Pawnshop Act.
Section 5-19A-1 - Short Title.
Section 5-19A-2 - Definitions.
Section 5-19A-3 - Pawnbroker to Enter on Pawn Ticket Record of Information.
Section 5-19A-4 - Certain Information to Be Printed on Pawn Tickets.
Section 5-19A-6 - Redemption or Automatic Forfeiture of Pledged Goods.
Section 5-19A-7 - Pawnshop Charge; Amounts in Excess of Pawnshop Charge.
Section 5-19A-8 - Certain Acts by Pawnbrokers Prohibited.
Section 5-19A-12 - Eligibility for Pawnshop License; Application Fee.
Section 5-19A-13 - Suspension or Revocation of License; Notice and Hearing; Surrender of License.
Section 5-19A-14 - Application for New Pawnshop License, Transfer of Existing License, Etc.
Section 5-19A-16 - Penalties for Failure to Secure License.
Section 5-19A-18 - Department of Public Safety to Supply Available Arrest and Conviction Records.
Section 5-19A-19 - Ordinances to Be in Compliance With but Not More Restrictive Than Chapter.