A pawnbroker has a first lien on all pledges for the amount of his loan, interest, and charges except:

1. (1) when the property that constitutes the pledge is stolen ( IC 35-43-4-2 ) or converted ( IC 35-43-4-3 ) property; or
2. (2) where a prior lien exists under another statute.

As amended by P.L.272-1983, SEC.2.