Tex. Fin. Code § 371.056 · Subchapter B. PAWNSHOP LICENSE
BOND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commissioner may require that an applicant file a bond with the application. The bond must be:
(1) satisfactory to the commissioner;
(2) in the amount set by the commissioner not to exceed $5,000 for each license; and
(3) issued by a surety qualified to do business in this state.
(b) The aggregate liability of the surety may not exceed the amount of the bond.
(c) The bond must be in favor of this state for the use of this state and the use of a person who has a cause of action under this chapter against the pawnbroker.
(d) The bond must be conditioned on:
(1) the pawnbroker's compliance with this chapter and rules adopted under this chapter; and
(2) the payment of all amounts that become due to this state or to another person under this chapter.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.371.htm
- Text hash
- sha256 bc695c5f71accfda7ab9a7c062e2b8f768bafb0f1540ea9e20a24a34eab0fccd
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.