Texas Finance Code

§ 371.208 — VERIFICATION OF NET ASSETS

FI § 371.208Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part C. PAWNSHOPS · Ch. 371. PAWNSHOPS · Art. E. INSPECTIONS AND EXAMINATIONS

Statute text

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If the commissioner questions the amount of a pawnbroker's net assets, the commissioner may require certification by an independent certified public accountant that:

(1)the accountant has reviewed the pawnbroker's books, other records, and transactions during the reporting year;

(2)the books and other records are maintained using generally accepted accounting principles; and

(3)the pawnbroker meets the net assets requirement of Section 371.072.

Legislative history

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