Ohio § 4727.11
Full text of Ohio Ohio Revised Code § 4727.11, with citation guidance and answers to common questions.
§ 4727.11.
(A) If a pledgor fails to pay interest and fees to a person licensed as a pawnbroker
on a pawn loan for three months from the date of the loan or the date on which the
last interest payment is due, the licensee shall notify the pledgor by United States
postal mail, with proof of mailing, to the last place of address given by the pledgor,
that unless the pledgor redeems the pledged property or pays all interest due and
fees within thirty days from the date the notice is mailed, the pledged property shall
be forfeited to the licensee. If the pledgor fails to redeem or pay all interest due and fees within the period
specified in the notice, the licensee becomes the owner of the pledged property. (B) In the event that any article or property is redeemed by a person other than the
pledgor, the pledgor shall sign the pledgor's copy of the statement required under section 4727.07 of the Revised Code , which copy shall be presented by the person to the licensee. The licensee shall verify the name of the person redeeming the article or property,
and shall record the person's name and driver's license number, or other personal
identification number, on the licensee's copy of the statement, and shall require
the person to sign this copy. (C) In the event that any articles or property pledged are lost or rendered inoperable
due to negligence of the licensee, the licensee shall replace the articles or property
with identical articles or property, except that if the licensee cannot reasonably
obtain identical articles or property, the licensee shall replace the articles or
property with like articles or property. (D) When an account is paid in full, the licensee shall return the pledged article immediately
to the pledgor. In the event the pledgor sells, transfers, or assigns the pledge, the licensee shall
verify the name of the person redeeming the pledge and record that person's name,
driver's license number, and signature on the permanent copy of the statement of pledge
required pursuant to section 4727.07 of the Revised Code . The licensee also shall obtain the signature of the pledgor, or other person redeeming
the pledge, upon a separate record of the transaction, that acknowledges the total
dollar amount paid for redemption and the date of redemption. All records shall be kept in the licensee's place of business.
Frequently Asked Questions About Ohio § 4727.11
What does Ohio Revised Code § 4727.11 cover?
Section 4727.11 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 4727.11?
A common citation format is "Ohio Revised Code § 4727.11" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 4727.11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.