Not much floor activity today; most of the General Assembly’s work was done in committee. But one floor vote in the Senate led to a rare defeat. Senate Bill 0121 use of pawned property. This was defeated 21 to 26. Kind of an odd bill. It would have permitted an individual to enter into an agreement with a pawnbroker that allows the pledger to possess the property after the article was first deposited with the pawnbroker. If the pledger continues to possess the item after the maturity of the loan, the pawnbroker can take possession through judicial process or without judicial process if the pawnbroker proceeds without breach of the peace.
So, essentially, the loan gives the pawnbroker a nonpossessory lien on the personal property and allows the pawnbroker to execute on the lien either through judicial process or through self-help if it can be done without causing a ruckus. Seems like it would be a great opportunity for someone to go from pawnbroker to pawnbroker with the same piece of property. Probably best that the bill failed.
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