Texas Finance Code 371.054 – License Application
(a) This section applies to an application for:
(1) an original pawnshop license;
(2) relocation of a pawnshop; or
(3) transfer of a pawnshop license and approval of a change in the ownership of a pawnshop.
(b) An application must be made to the commissioner and must:
(1) be under oath;
(2) state:
(A) the full name and place of residence of the applicant;
(B) the full name and address of each member if the applicant is a partnership;
(C) except as provided by Subsection (c), the full name and address of each officer, shareholder, and director if the applicant is a corporation;
(D) the location where the business is to be conducted; and
(E) other relevant information required by the commissioner; and
(3) be accompanied by the fees and proof of insurance required by § 371.055.
Terms Used In Texas Finance Code 371.054
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) The full name and address of each shareholder is not required if the applicant is owned directly or beneficially by a person who:
(1) is an issuer of securities who:
(A) has a class of securities registered under Section 12 of the Securities Exchange Act of 1934 (15 U.S.C. § 78l); or
(B) is required to file reports with the Securities and Exchange Commission by Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. § 78o(d)); and
(2) has filed with the commissioner the information, documents, and reports required by the Securities Exchange Act of 1934 (15 U.S.C. § 77b et seq.) to be filed by the issuer with the Securities and Exchange Commission.