Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 4 - OPERATION OF PAWNSHOPS › Section 85.408 - Presentation of Pawn Ticket

Current through Reg. 49, No. 28; July 12, 2024
(a)
					 Record of payment. A record of an amount collected in connection with a pawn
					 transaction must be made immediately upon receipt. In a manual system, the
					 payment notation must be made in the numerical pawn ticket file. If the amount
					 of money received includes any costs for packing, shipping, or insuring goods
					 redeemed by mail, the costs must be itemized.
(b) Identification of person presenting pawn
					 ticket. The person presenting a pawn ticket for redemption must be identified
					 by requiring the person to produce an acceptable form of identification unless
					 the person is known and recognized as the pledgor. An acceptable form of
					 identification for a person other than the pledgor must be any form of
					 identification listed in Texas Finance Code, §371.174(b) that is either
					 current or has not been expired more than one year. A record in the electronic
					 system or on the original pawn ticket must be made including the type of
					 identification, the name on the identification, and the identifying number
					 presented by any person other than the pledgor.
(c) Receipt. A receipt for payment must be
					 given upon request. A memorandum of extension form, properly completed as
					 described in §85.407 of this title (relating to Memorandum of Extension),
					 may serve as a receipt for payment of charges.
(d) Original pawn ticket. Upon redemption of
					 the pledged goods or the renewal of the pawn ticket, the person presenting the
					 pawn ticket for redemption or renewal must sign the original pawn ticket in the
					 properly designated field of the pawn ticket unless the original pledgor has
					 signed a lost pawn ticket statement. The original of each pawn ticket returned
					 upon redemption must be promptly filed in the redemption and renewal file. For
					 purposes of this subsection, the numerical file of redemptions and renewals is
					 a file where the documents used to redeem pawn transactions are kept in
					 sequential order or in chronological order by date if through the use of an
					 automated system the records pertaining to the pawn transaction can be readily
					 located. Separate lost pawn ticket statement forms or other documents taken to
					 document a redemption or renewal must be filed with the numerical pawn ticket
					 file or in the redemption and renewal file according to the sequential number
					 of the related pawn ticket.
(e)
					 Power of attorney. In the event the original pledgor desires to designate
					 another person to redeem the pledged goods and the original pledgor has lost
					 the pawn ticket, a proper power of attorney, which must include the pledgor's
					 notarized signature, is required from the original pledgor designating the
					 person for redemption. A power of attorney must be filed in the numerical pawn
					 ticket file or the numerical index of redemptions and renewals.