Section 61.10. Care of pledge

Latest version.

(a) Licensees shall be liable for partial or total loss of, or damage to, a pledge, when caused by failure of the licensee to exercise reasonable care.
(b) Licensees shall be liable for loss or damage due to fire, theft or burglary resulting from lack of reasonable care by the licensee.
(c) The burden of proof to establish reasonable care shall be upon the licensee.
(d) Licensees shall carry adequate insurance or take other reasonable precautions to protect pledges against loss, damage or destruction when the financial responsibility of the pawnbroker cannot assure adequate protection to the pledgor in case of loss.

                    
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