Texas Finance Code
§ 371.154 — INSURANCE AND BOND
FI § 371.154Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part C. PAWNSHOPS · Ch. 371. PAWNSHOPS · Art. D. OPERATION OF PAWNSHOPS
Statute text
View on source(a)A pawnbroker shall maintain general liability and fire insurance:
(1)in a reasonable amount and form required by the commissioner; and
(2)sufficient to protect pledged goods, including jewelry, at the pawnshop.
(b)A pawnbroker shall secure a bond:
(1)in the amount, not to exceed $5,000, required by the commissioner;
(2)in the form required by the commissioner; and
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Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 801, Sec. 6, eff. Sept. 1, 1999.