Tex. Finance Code § 371.002
PURPOSES
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 371.002, PURPOSES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647839
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Full text
The purposes of this chapter are to:
(1) prevent fraud, unfair practices, discrimination, imposition, and abuse of state residents;
(2) exercise the state's police power to ensure a sound system of making pawn loans and transfers of personal property by and through pawnshops;
(3) prevent transactions in stolen property and other unlawful property transactions by licensing and regulating pawnbrokers;
(4) provide for licensing and investigation fees;
(5) provide minimum capital requirements for pawnbrokers;
(6) ensure financial responsibility to the state and its residents and compliance with federal, state, and local law, including rules and ordinances; and
(7) assist local governments in the exercise of their police power.