Oregon Code § 726.370·Enacted ·Last updated March 01, 2026
Statute Text
Multiple claimants of pledge; interpleader.
(1) If more than one person claims the right to
redeem a pledge, the pawnbroker is not liable for refusing to deliver the
pledge until the respective rights of the claimants have been adjudicated
unless the pawnbroker fails to verify whether the pledge is subject to a lien
or other encumbrance, if the pledge is:
(a) A boat, as
defined in ORS 830.005;
(b) A snowmobile,
as defined in ORS 801.490;
(c) A trailer, as
described in ORS 726.010 (2)(a)(D); or
(d) An
all-terrain vehicle that is not required to be registered with the Department
of Transportation.
(2) In an action
brought against the pawnbroker for recovery of the pledge, the pawnbroker may
as a defense require all known claimants to interplead.
(3) If either
claimant does not bring an action against the pawnbroker within 30 days after
notice of an adverse claim, the pawnbroker may dispose of the pledge as
provided in this chapter. [Amended by 2013 c.261 §3]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 726.370
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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