Section 08.76.400. Recovery of leased property.

   (a) If property in the possession of a pawnbroker was leased to a pledgor or seller when the pledgor or seller pledged or sold the property to the pawnbroker, but the property did not have a permanent label or other conspicuous mark identifying it as the lessor's property, the pawnbroker shall return the property to the lessor if the lessor
        (1) provides the pawnbroker with evidence that the property was the lessor's property and was leased to the pledgor or seller at the time the property was pledged or sold to the pawnbroker; and
        (2) pays the pawnbroker
             (A) the amount financed and the finance fee for the pawn transaction, if the property was pledged to the pawnbroker; or
             (B) the amount that the pawnbroker paid the seller if the property was sold to the pawnbroker.
   (b) A pawnbroker is not liable to the pledgor or seller of property that is recovered by a lessor under (a) of this section for returning the property to a lessor under (a) of this section.

Authorities

8.76.270

Notes

References

AS 8.76.270 .270">Sec. 08.76.270. Redemption.

History

(Sec. 5 ch 49 SLA 2010)