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Texas Finance Code - FIN § 371.054. License Application

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) This section applies to an application for:

(1) an original pawnshop license;

(2) relocation of a pawnshop;  or

(3) transfer of a pawnshop license and approval of a change in the ownership of a pawnshop.

(b) An application must be made to the commissioner and must:

(1) be under oath;

(2) state:

(A) the full name and place of residence of the applicant;

(B) the full name and address of each member if the applicant is a partnership;

(C) except as provided by Subsection (c), the full name and address of each officer, shareholder, and director if the applicant is a corporation;

(D) the location where the business is to be conducted;  and

(E) other relevant information required by the commissioner;  and

(3) be accompanied by the fees and proof of insurance required by Section 371.055.

(c) The full name and address of each shareholder is not required if the applicant is owned directly or beneficially by a person who:

(1) is an issuer of securities who:

(A) has a class of securities registered under Section 12 of the Securities Exchange Act of 1934 (15 U.S.C. Section 78l);  or

(B) is required to file reports with the Securities and Exchange Commission by Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. Section 78o(d));  and

(2) has filed with the commissioner the information, documents, and reports required by the Securities Exchange Act of 1934 (15 U.S.C. Section 77b et seq.) to be filed by the issuer with the Securities and Exchange Commission.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 371.054. License Application - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-371-054/

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