Sec. 16.
The said bond shall be in double the value of the property claimed, with such surety as such court shall approve, and shall be given to the person from whose possession the property was taken, with condition that the obliger so claiming the same will pay all the costs and damages that may be recovered against him by the obligee in any suit brought within 10 days from the date of such bond.
History: 1917, Act 273, Eff. Aug. 10, 1917 ;-- CL 1929, 9699 ;-- CL 1948, 446.216 Constitutionality: Section held unconstitutional as violative of due process clauses of state and federal constitutions for failure to provide adequate notice and opportunity for hearing. Rassner v Federal Collateral Society, Inc, 299 Mich 206; 300 NW 45 (1941).
Structure Michigan Compiled Laws
Chapter 446 - Business Regulation
Act 273 of 1917 - Pawnbrokers (446.201 - 446.219)
Section 446.202 - Licenses; Issuance; Contents; Term; Transferability; Fee; Bond; Limitations.
Section 446.203 - Definitions.
Section 446.204 - Licensed Pawnbroker; Action Upon Bond.
Section 446.205 - Record of Property Received; Contents; Inspection; Form of Permanent Record.
Section 446.206 - Statement to Police of Articles Received; Contents.
Section 446.207 - Repealed. 1980, Act 199, Imd. Eff. July 10, 1980.
Section 446.208 - Purchaser's Memorandum of Pawn; Contents.
Section 446.210 - Title to Item; Sale of Pledged or Pawned Item; Time of Possession.
Section 446.214 - Pawned Property; Acceptance From Certain Persons Prohibited.
Section 446.216 - Bond of Complainant; Amount, Surety.
Section 446.217 - Transaction of Business on Sunday Unlawful.
Section 446.218 - Violation of Act; Penalty.
Section 446.219 - Violation of Act; Revocation of License; Duration.