Texas Finance Code

§ 371.053 — VERIFICATION OF APPLICANT'S NET ASSETS

FI § 371.053Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part C. PAWNSHOPS · Ch. 371. PAWNSHOPS · Art. B. PAWNSHOP LICENSE

Statute text

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If the commissioner cannot verify that an applicant meets the net assets requirement of Section 371.072, the commissioner may require a finding, including a current balance sheet, by an independent certified public accountant that:

(1)the accountant has reviewed the applicant's books and records; and

(2)the applicant meets the net assets requirement.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.