Sec. 371.002.  PURPOSES.  The purposes of this chapter are to:
(1)  prevent fraud, unfair practices, discrimination, imposition, and abuse of state residents;
(2)  exercise the state's police power to ensure a sound system of making pawn loans and transfers of personal property by and through pawnshops;
(3)  prevent transactions in stolen property and other unlawful property transactions by licensing and regulating pawnbrokers;
(4)  provide for licensing and investigation fees;
(5)  provide minimum capital requirements for pawnbrokers;
(6)  ensure financial responsibility to the state and its residents and compliance with federal, state, and local law, including rules and ordinances; and
(7)  assist local governments in the exercise of their police power.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by: 
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 63, eff. September 1, 2019.