§ 6-5-120. Intermediate loan payments.

Latest version.

Pawnbrokers shall accept intermediate payments upon loans which have not matured when presented with the pawn ticket, provided that no payment need be accepted which is less than ten percent (10%) of the unpaid principal balance, together with accrued charges. The pawnbroker may elect to treat the amount tendered as a payment upon the existing loan, or the pawnbroker may elect to renew the loan, in which event a new pawn ticket in the reduced amount shall be issued. A receipt showing the date of the payment and the amount thereof shall be given for all moneys received on account of or in payment of pledged loans. (Prior code 6.06.12)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');