Reversion of Surplus

Act 51 of 1937, § 27, under "PAWNBROKERS LICENSE ACT".

Act 51 of 1937, § 27

Section 27. Reversion of Surplus.--If a surplus remaining from the sale of a pledge is not paid or claimed within one year from the date of sale, such surplus shall revert to the pawnbroker. The pawnbroker shall not be required to pay any interest on an unpaid surplus.