Section 367.052

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 367

Effective - 28 Aug 1998   

  367.052.  Leased property, rental or installment contracts not misappropriated unless marked — defacing marks, effect — claimant may recover — pawnbroker not liable. — When an item of property is the subject of a lease, rental transaction or retail installment contract with a company domiciled in the state, between the claimant and the claimant's lease or rental customer at the time it is delivered into the possession of the pawnbroker, the property shall not be deemed misappropriated unless it bears a conspicuous permanent label or marking identifying it as the claimant's property.  Evidence of defacing or the removal of identification marking of leased or rented property shall be treated as marked and identified and therefore deemed to be misappropriated.  Property subject to a lease, rental transaction or retail installment contract with a company domiciled in the state, which is not marked as provided in this subsection may be recovered by the claimant upon payment to the pawnbroker of all moneys owing to or advanced by the pawnbroker in the pawn or purchase transaction, and upon producing evidence identifying the property as having been the property of the claimant and leased or rented at the time the property was placed in the pawnbroker's possession.  The pawnbroker shall be free from liability in connection with the recovery of leased or rental property pursuant to this subsection.

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(L. 1998 H.B. 1526 § 367.044 subsec. 7)