Texas Finance Code

§ 371.069 — CHANGE OF OWNERSHIP

FI § 371.069Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part C. PAWNSHOPS · Ch. 371. PAWNSHOPS · Art. B. PAWNSHOP LICENSE

Statute text

View on source

(a)An application for an original pawnshop license or the transfer of a pawnshop license is required if a change in direct or beneficial ownership of a licensed pawnshop occurs.

(b)This section does not apply to a change in direct or beneficial ownership of a licensed pawnshop if the pawnshop is owned directly or beneficially by a person who:

(1)is an issuer of securities who is described by Section 371.054(c)(1);

(2)is described by Section 371.054(c)(2) and has submitted to the commissioner each filing required by Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. Section 78o(d)) and paid a filing fee of $100 with each; and

(3)has filed information on officers and directors of the issuer or any licensed or intermediate subsidiary as required by Section 371.054 for officers and directors of a corporation.

Legislative history

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