Michigan Compiled Laws
Mich. Comp. Laws § 446.210 (2026)
Title to item; sale of pledged or pawned item; time of possession.
✓ current as of July 2026
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PAWNBROKERS
Act 273 of 1917
446.210 Title to item; sale of pledged or pawned item; time of possession.
Sec. 10.
(1) Subject to section 12, title to an item that is pledged or pawned vests in the pawnbroker 90 days after the pledge or pawn, or after the expiration of any longer period agreed to by the parties, if the borrower has not paid the debt, interest, and charges on the item that was pledged or pawned.
(2) Subject to section 12, a pawnbroker shall not sell any item that was pledged or pawned until the item has remained in the pawnbroker's possession for at least 90 days.
History: 1917, Act 273, Eff. Aug. 10, 1917 ;-- Am. 1927, Act 347, Imd. Eff. June 2, 1927 ;-- CL 1929, 9693 ;-- CL 1948, 446.210 ;-- Am. 1998, Act 233, Imd. Eff. July 3, 1998 ;-- Am. 2018, Act 345, Eff. Jan. 14, 2019
Notes of Decisions
Cited in 2
cases, 1994–1995 · leading case: People v. Lee, 526 N.W.2d 882 (Mich. 1994).
People v. Lee, 526 N.W.2d 882 (Mich. 1994). “The prosecutor contended that in the first month of the option, the interest assessment constituted a three hundred percent interest rate per year that was well beyond the twenty-five percent per year legally proscribed maximum. Although there may be some dispute over whether…”
Folands Jewelry Brokers, Inc v. City of Warren, 532 N.W.2d 920 (Mich. Ct. App. 1995). “[2] Accordingly, those engaging *309 in such transactions must possess pawnbrokers' licenses and may charge an effective interest rate not in excess of thirty-six percent a year, the maximum allowed by law for pawnbrokers.”
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