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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A pawnbroker may not enter a pawn transaction that has a maturity date later than one month after the date of the transaction.
(b) The pledgor and the pawnbroker by written agreement may change the maturity date of a pawn transaction to a subsequent date.
(c) The written agreement must clearly set out:
(1) the new redemption date; and
(2) the amount of any additional pawn service charge.
(d) The pawnbroker must provide a copy of the written agreement to the pledgor.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 371.160. Maturity Date; Memorandum of Extension - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-371-160/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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