§ 202-b. Pledgee may buy at public sale. Unless the pledge agreement
otherwise provides, in all cases where a pledgee may lawfully sell
pledged property and the property is sold at public sale, the pledgee,
or his assignee or the legal representative of either, may fairly and in
good faith purchase the pledged property or any part thereof at the
sale. This section does not apply to a sale of property pawned or
pledged with a collateral loan broker.