Code of Alabama
Chapter 19A - Alabama Pawnshop Act.
Section 5-19A-6 - Redemption or Automatic Forfeiture of Pledged Goods.

A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within 30 days following the originally fixed maturity date shall be forfeited to the pawnbroker and absolute right, title, and interest in and to the goods shall vest in the pawnbroker.

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Structure Code of Alabama

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-5 - Statement Verifying Pledgor Is Rightful Owner of Goods; Pawnbroker to Maintain Record of Transactions; Goods to Be Maintained on Premises for Certain Number of Days Before Resale.

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-9 - Pledgor Presenting Pawn Ticket Entitled to Redeem or Repurchase Goods; Lost or Damaged Pledged Goods in Possession of Pawnbroker; Lost, Destroyed, or Stolen Pawn Ticket.

Section 5-19A-10 - Liens for Pawnbrokers; Pledged Goods Not Redeemed on or Before Maturity Date Fixed in Ticket.

Section 5-19A-11 - Licensing Generally; Annual Fee; Temporary License; When New License Not Required Upon Change in Ownership.

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-15 - No Confiscation of Property Pledged to Pawnbroker if Property May Be Put on Seven-Day Hold; When Property May Be Placed on Hold.

Section 5-19A-16 - Penalties for Failure to Secure License.

Section 5-19A-17 - Penalties for Willful Violation of Chapter or for False Entry in Required Records; Compliance Enforced by Supervisor; Order Requiring Person to Refrain From Violation.

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.

Section 5-19A-20 - Pawnbrokers to Be Subject to Licensing and Issuance Fees Under Chapter 12 of Title 40; Chapter Not to Repeal Uniform Commercial Code.