367.040.  Loans due, when — return of collateral, when — restrictions. — 1.  Every secured personal credit loan shall be due and payable in lump sum thirty days after the date of the loan contract, or, if extended, thirty days after the date of the last preceding extension of the loan, and if not so paid when due, it shall, on the next day following, be in default.  The lender shall retain possession of the tangible personal property subjected to the security interest to secure payment of any secured personal credit loan for a period of sixty days next following the date of default.  If, during the period of sixty days, the borrower shall pay to the lender the principal sum of the loan, with the loan fee or fees, and the interest due thereon to the date of payment, the lender shall thereupon deliver possession of the tangible personal property to the borrower.  But if the borrower fails, during the period of sixty days, to make payment, then title to the tangible personal property shall, on the day following the expiration of the period of sixty days, pass to the lender, without foreclosure, and the right of redemption by the borrower shall be forever barred.

  2.  A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction.

  3.  Except as otherwise provided by sections 367.011 to 367.060, any person properly identifying himself and presenting a pawn ticket to the pawnbroker shall be presumed to be entitled to redeem the pledged goods described therein.

  4.  A pawnbroker shall not:

  (1)  Accept a pledge from a person who is under eighteen years of age;

  (2)  Make any agreement requiring the personal liability of a pledgor in connection with a pawn transaction;

  (3)  Accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under sections 367.011 to 367.060;

  (4)  Fail to exercise reasonable care to protect pledged goods from loss or damage;

  (5)  Fail to return pledged goods to a pledgor upon payment of the full amount due the pawnbroker on the pawn transaction.  In the event such pledged goods are lost or damaged as a result of pawnbroker negligence while in the possession of the pawnbroker it shall be the responsibility of the pawnbroker to replace the lost or damaged goods with like kind of merchandise.  Lenders shall not be responsible for loss of pledged articles due to acts of God, acts of war, or riots.  Each lender shall employ, if reasonably available in his area, a reputable company for the purpose of fire and theft security;

  (6)  Purchase or take in trade used or secondhand personal property unless a record is established that contains:

  (a)  The name, address, physical description, and the driver's license number, military identification number, identification certificate number, or other official number capable of identifying the seller;

  (b)  A complete description of the property, including the serial number if reasonably available, or other identifying characteristic; and

  (c)  A signed document from the seller providing that the seller has the right to sell the property.