§ 6-5-130. Sale of unredeemed articles.

The pawnbroker shall retain the pledge in his or her possession thirty (30) days after maturity of said loan. If the pledgor shall fail or neglect for thirty (30) days after the maturity of said loan to redeem the pledge by repayment of the balance of the principal and payment of all accrued interest charges, the pawnbroker shall immediately thereafter mail a notice of the impending sale of the pledged article to the address shown on the pawn ticket. Ten (10) days shall be allowed from the date of notification for the pledgor or his or her agent to appear with the pawn ticket and reclaim the article or make satisfactory payments upon the same. If the person who obtained the loan fails to redeem said pawned and pledged property within the ten (10) days designated in said notice, all right and title and interest of, in and to such pawned and pledged property shall be forfeited to the pawnbroker, who shall thereby acquire absolute title to the same, and the debt thereof shall become completely satisfied. (Prior code 6.06.13)