Texas Finance Code 371.208 – Verification of Net Assets
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 371.208
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Year: means 12 consecutive months. See Texas Government Code 311.005
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 § 371.072.