Texas § FI.371.101 - PAWNSHOP EMPLOYEE LICENSE PROGRAM

§ FI.371.101. PAWNSHOP EMPLOYEE LICENSE PROGRAM

PAWNSHOP EMPLOYEE LICENSE PROGRAM. (a) A pawnbroker may, but is not required to, participate in the pawnshop employee license program by notifying the commissioner in writing on a form prescribed by the commissioner. (a-1) A pawnbroker may submit a written notification to participate in the pawnshop employee license program under Subsection (a): (1) at the time of the pawnbroker's original license application; (2) at the time of a renewal of the pawnbroker's license; or (3) at another time prescribed by the commissioner. (a-2) A pawnbroker may notify the commissioner in writing of the pawnbroker's intention to no longer participate in the pawnshop employee license program at any time notification is permitted under Subsection (a-1). On receipt by the commissioner of a pawnbroker's notification under this subsection, the pawnbroker will no longer be a part of the pawnshop employee license program unless the pawnbroker resubmits a new notification for participation under Subsection (a-1). (b) An individual who begins employment at a pawnshop for a pawnbroker that participates in the pawnshop employee license program under Subsection (a), as a condition of employment, must apply to the commissioner for a pawnshop employee license not later than the 75th day after the date employment begins. The individual may continue employment until the license is issued or denied. (c) If a pawnbroker participates in the pawnshop employee license program under Subsection (a), the participating pawnbroker may not employ an individual to write a pawn transaction, buy or sell merchandise, or supervise another employee who writes pawn transactions or buys or sells merchandise unless the individual: (1) has complied with Subsection (b) but has not been issued or denied a license; or (2) holds a pawnshop employee license. (d) Subsection (c) does not apply to an individual who: (1) has an ownership interest in the pawnshop license; and (2) is named on the application. (e) Subject to Section 14.112 , the Finance Commission of Texas shall adopt rules to administer the pawnshop employee license program. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 1399, Sec. 5, eff. Sept. 1, 1999. Amended by: Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442 ), Sec. 73, eff. September 1, 2019.