Texas Finance Code 371.177 – Purchase of Used Personal Property
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 371.177
- 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
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
A pawnbroker may not purchase used personal property from a person other than another pawnbroker unless a record is established that contains:
(1) the seller’s name, address, and physical description and a driver’s license number, military identification number, identification certificate number, or other official number that can identify the seller;
(2) a complete description of the property, including the serial number, if reasonably available, or other identifying characteristics; and
(3) the seller’s signed statement that the seller has the right to sell the property.