Alaska Statutes.
Title 8. Business and Professions
Chapter 76. Pawnbrokers and Secondhand Dealers
Section 270. Redemption.
previous: Section 260. Retention, Storage, and Lease.
next: Section 280. Military Personnel.

AS 08.76.270. Redemption.

(a) Unless there is a hold order on the pledged property, the pledged property is subject to a claim under AS 08.76.370 or 08.76.380, or the property is returned to a lessor under AS 08.76.400, a pledgor may redeem pledged property by paying the amount financed and the finance fee in full before the pawnbroker's scheduled closing time on the maturity date.

(b) If a pledgor does not pay the amount financed and the finance fee in full before the pawnbroker's scheduled closing time on the maturity date, the pawnbroker shall hold the pledged property on the pawnbroker's business premises for a grace period of 30 days plus any extension allowed under AS 08.76.250. A pledgor may redeem the pledged property during the actual grace period by paying the amount financed and the finance fee, but a pledgor may not redeem pledged property after the pawnbroker's scheduled closing time on the last day of the actual grace period. In this subsection, “actual grace period” means the grace period plus any extension allowed under AS 08.76.250.

(c) If there is a hold order on pledged property, the pledgor may redeem the pledged property only when the hold order is released.

(d) If pledged property is subject to a claim under AS 08.76.370 or 08.76.380, the pledgor may redeem the pledged property only when the pledged property becomes available under AS 08.76.370 or 08.76.380 for redemption.

(e) If a pledgor does not redeem pledged property under (a) — (d) of this section, the title and all interest in the pledged property transfer to the pawnbroker.

(f) The holder of a transaction agreement is presumed to be the person who is entitled to redeem the pledged property that is the subject of the transaction agreement, and a pawnbroker shall deliver the pledged property to the person who presents the transaction agreement and pays the amount financed and the finance fee for the pawn transaction.

All content © 2023 by Touch N' Go/Bright Solutions, Inc.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.