00                            SENATE BILL NO. 315                                                                         
01 "An Act  relating to the disposition of unredeemed property; and providing for an                                       
02 effective date."                                                                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 08.76.040(b) is amended to read:                                                                   
05            (b)  If a pawnbroker sells property bought or received in pledge and not                                     
06       redeemed within 30 days after the date of mailing notice under (a) of this section, the                           
07       pawnbroker shall pay the pledgor one-half of the amount that is [IN EXCESS OF                                 
08       $400] received for the property and that exceeds twice the maximum amount                                     
09       allowed under AS 06.20.330 for individual loans by pawnbrokers and loan shops                                 
10       to be exempt from AS 06.20.                                                                                   
11    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).