Tex. Fin. Code § 371.159 · Subchapter D. OPERATION OF PAWNSHOPS
PAWN SERVICE CHARGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A pawnbroker may not contract for, charge, or receive an amount, other than a pawn service charge, as a charge for credit in connection with a pawn transaction.
(b) A pawn service charge may not exceed the charge disclosed in the pawn ticket or other memorandum delivered to the pledgor.
(c) A pawn service charge may not exceed an amount equal to:
(1) 20 percent of the total amount financed for one month if that amount is less than or equal to the amount computed under Subchapter C, Chapter 341, using the reference amount of $30;
(2) 15 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (1) but less than or equal to the amount computed under Subchapter C, Chapter 341, using the reference amount of $200;
(3) 2-1/2 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (2) but less than or equal to the amount computed under Subchapter C, Chapter 341, using the reference amount of $300; or
(4) 1 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (3).
(d) A rate set by Subsection (c) shall be proportionately adjusted for a finance period of less than one month.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 22, eff. Sept. 1, 2001.
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 09a8c124145afc9801bc10ff132ab46106a31aa439d2ec642a7c9eab03a323b5
- 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
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