Tex. Finance Code § 371.169
UNREDEEMED PLEDGED GOODS; FORFEITURE
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 371.169, UNREDEEMED PLEDGED GOODS; FORFEITURE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647898
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Full text
(a) A pawnbroker shall hold pledged goods not redeemed by the pledgor on or before the maturity date stated in the pawn ticket issued in connection with a pawn transaction for at least 30 days after that date.
(b) On or before the 30th day after the original maturity date, the pledgor may redeem the pledged goods by paying:
(1) the originally agreed redemption price; and
(2) an additional pawn service charge equal to one-thirtieth of the original monthly pawn service charge for each day after the original maturity date, including the day on which the pledged goods are finally redeemed.
(c) Pledged goods not redeemed on or before the 30th day after the original maturity date may, at the option of the pawnbroker, be forfeited to the pawnbroker.