(a) If any person receiving a loan from a pawnbroker on a pledge of personal property fails to redeem or pay interest on any article pledged within two 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 mail, with proof of mailing, to the last place of address given by the pledgor, that unless the pledge or property is redeemed within 30 days from the date the notice is mailed, it shall be forfeited to the licensee. If the pledgor fails to redeem the property within the 30-day period specified in the notice, the licensee shall proceed to take ownership of the pledge or property.
(b) If any article or property is redeemed by a person other than the pledgor, the pledgor shall sign his or her copy of the statement required under § 856.05 or Ohio R.C. 4727.07, 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, driver’s or commercial driver’s license number or Social Security number on the licensee’s copy of the statement, and shall require the person to sign this copy.
(c) If 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.
(ORC. 4727.11)