When any person shall set up a claim to salvaged property and shall prove his or her title to it by competent testimony before any justice of the peace of the proper county, the taker up shall restore the property to the owner if he or she pays the taker up a premium for salvage, at the rate of not exceeding ten percent (10%) of the value of all the property, to be adjudged by a justice of the peace of the county.
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