Tex. Finance Code § 371.169
This is the official text of Tex. Finance Code § 371.169, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 371.169. UNREDEEMED PLEDGED GOODS; FORFEITURE.
Official statutory text
(a) A pawnbroker shall hold pledged goods not redeemed by the pledgor on or before the maturity date stated in the pawn ticket issued in connection with a pawn transaction for at least 30 days after that date.
(b) On or before the 30th day after the original maturity date, the pledgor may redeem the pledged goods by paying:
(1) the originally agreed redemption price; and
(2) an additional pawn service charge equal to one-thirtieth of the original monthly pawn service charge for each day after the original maturity date, including the day on which the pledged goods are finally redeemed.
(c) Pledged goods not redeemed on or before the 30th day after the original maturity date may, at the option of the pawnbroker, be forfeited to the pawnbroker.
(b) On or before the 30th day after the original maturity date, the pledgor may redeem the pledged goods by paying:
(1) the originally agreed redemption price; and
(2) an additional pawn service charge equal to one-thirtieth of the original monthly pawn service charge for each day after the original maturity date, including the day on which the pledged goods are finally redeemed.
(c) Pledged goods not redeemed on or before the 30th day after the original maturity date may, at the option of the pawnbroker, be forfeited to the pawnbroker.
Status: in_force · Read it on the official government site
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