54.1-4005 - Sale of goods pawned. - Virginia Statutes

§ 54.1-4005. Sale of goods pawned.

No pawnbroker shall sell any pawn or pledge item until (i) it has been in hispossession for the minimum term set forth in the memorandum, but not lessthan thirty days, plus a grace period of fifteen days and (ii) a statement ofownership is obtained from the pawner. If a motor vehicle is pawned, theowner of the motor vehicle shall comply with the requirements of § 46.2-637.In the event of default by the pawner, the pawnbroker must comply with therequirements of § 46.2-633. Otherwise, the pawnbroker must comply with therequirements of § 46.2-636 et seq. All sales of items pursuant to thissection may be made by the pawnbroker in the ordinary course of his business.

(Code 1950, § 54-847; 1986, c. 316; 1988, c. 765; 1998, c. 848; 1999, c. 327.)