Texas § FI.371.159 - PAWN SERVICE CHARGE
Full text of Texas The Texas Constitution § FI.371.159 — PAWN SERVICE CHARGE, with citation guidance and answers to common questions.
§ FI.371.159. PAWN SERVICE CHARGE
PAWN SERVICE CHARGE. (a) A pawnbroker may not contract for, charge, or receive an amount, other than a pawn service charge, as a charge for credit in connection with a pawn transaction. (b) A pawn service charge may not exceed the charge disclosed in the pawn ticket or other memorandum delivered to the pledgor. (c) A pawn service charge may not exceed an amount equal to: (1) 20 percent of the total amount financed for one month if that amount is less than or equal to the amount computed under Subchapter C , Chapter 341 , using the reference amount of $30; (2) 15 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (1) but less than or equal to the amount computed under Subchapter C , Chapter 341 , using the reference amount of $200; (3) 2-1/2 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (2) but less than or equal to the amount computed under Subchapter C , Chapter 341 , using the reference amount of $300; or (4) 1 percent of the total amount financed for one month if that amount is more than the amount computed for Subdivision (3). (d) A rate set by Subsection (c) shall be proportionately adjusted for a finance period of less than one month. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 22, eff. Sept. 1, 2001.
Frequently Asked Questions About Texas § FI.371.159
What does The Texas Constitution § FI.371.159 cover?
Section FI.371.159 ("PAWN SERVICE CHARGE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.371.159?
A common citation format is "The Texas Constitution § FI.371.159" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.371.159 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.