§ 61.8. Stolen property.

 (a)  Licensees receiving stolen property in pledge shall surrender such property to the established rightful owner when directed to do so in writing by a properly constituted police official having jursidiction in the situation, or by the Department, if such owner tenders payment of the principal amount loaned exclusive of any charges which may have accrued.

 (b)  Licensees receiving stolen property in pledge shall, when directed to do so by a properly constituted police official, or by the Department, place a ‘‘stop’’ against the pledge. Such a ‘‘stop’’ order shall have the following provisions:

   (1)  The licensee shall not surrender or sell the property until there has been a legal determination of ownership, or until the ‘‘stop’’ order has been rescinded.

   (2)  When legal ownership has been adjudicated, the rightful owner shall not be required to pay either the principal amount loaned or any charges which may have accrued.

   (3)  The order shall automatically lapse at the expiration of 90 days unless extended by the issuing authority, or unless legal action has been taken to determine legal ownership.

 (c)  Licensees may seize any property offered in pledge which there is reason to believe is stolen property. To seize the property the licensee shall:

   (1)  Issue a seizure receipt to the person presenting the property.

   (2)  Deliver the seized property, together with a copy of the seizure receipt, to the local police authorities.

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