Section 202-B. Pledgee may buy at public sale

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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.

                    
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