Regulatory Alerts2016-01-01 | Bulletin 2016-2Oregon Division of Financial Regulation Bulletin 2016-2: Exceptions To The Requirement To Present A Pawn Ticket For Pledge Redemption
The Oregon Division of Financial Regulation issued Bulletin 2016-2 to clarify that a pawn ticket is not required for pledge redemption when a court order, such as a writ of garnishment, enjoins its negotiation. This guidance follows the Hughes v. Ephrem decision, which interpreted ORS 726.330 to establish that judicial actions overriding the ticket take precedence over the general rule requiring its presentation. Pawnbrokers are instructed to recognize valid court orders accompanied by payment of the amount due as sufficient for redemption, even in the absence of the physical pawn ticket.
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