Ohio Code § 4727.11

§ 4727.11.

(A) If a pledgor fails to pay interest and fees to a person licensed as a pawnbroker

on a pawn loan for three months from the date of the loan or the date on which the

last interest payment is due, the licensee shall notify the pledgor by United States

postal mail, with proof of mailing, to the last place of address given by the pledgor,

that unless the pledgor redeems the pledged property or pays all interest due and

fees within thirty days from the date the notice is mailed, the pledged property shall

be forfeited to the licensee.  If the pledgor fails to redeem or pay all interest due and fees within the period

specified in the notice, the licensee becomes the owner of the pledged property. (B) In the event that any article or property is redeemed by a person other than the

pledgor, the pledgor shall sign the pledgor's copy of the statement required under section 4727.07 of the Revised Code , which copy shall be presented by the person to the licensee.  The licensee shall verify the name of the person redeeming the article or property,

and shall record the person's name and driver's license number, or other personal

identification number, on the licensee's copy of the statement, and shall require

the person to sign this copy. (C) In the event that any articles or property pledged are lost or rendered inoperable

due to negligence of the licensee, the licensee shall replace the articles or property

with identical articles or property, except that if the licensee cannot reasonably

obtain identical articles or property, the licensee shall replace the articles or

property with like articles or property. (D) When an account is paid in full, the licensee shall return the pledged article immediately

to the pledgor.  In the event the pledgor sells, transfers, or assigns the pledge, the licensee shall

verify the name of the person redeeming the pledge and record that person's name,

driver's license number, and signature on the permanent copy of the statement of pledge

required pursuant to section 4727.07 of the Revised Code .  The licensee also shall obtain the signature of the pledgor, or other person redeeming

the pledge, upon a separate record of the transaction, that acknowledges the total

dollar amount paid for redemption and the date of redemption.  All records shall be kept in the licensee's place of business.