S.B. 965 78(R)    BILL ANALYSIS


S.B. 965
By: Averitt
Financial Institutions
Committee Report (Unamended)



BACKGROUND AND PURPOSE 

One provision of Texas law concerning the time period a pawnbroker is
required to hold pledged goods is inconsistent with changes made to other
laws during the sunset review of the Office of Consumer Credit
Commissioner.  Further, current law includes several obsolete or outdated
forms of identification which a pawnbroker is permitted to accept for pawn
transactions. 

S.B. 965 harmonizes Texas law with respect to the time period a pawnbroker
is required to hold pledged goods and replaces outdated identification
forms with the certificado de matricula consular or an identification
issued by the U.S. agency responsible for citizenship and immigration. 

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any
additional rulemaking authority to a state officer, department, agency, or
institution. 

ANALYSIS

S.B. 965 amends Section 371.157, Finance Code to provide that a pawn
ticket must include a statement that pledged goods are forfeited on the
31st, and not the 61st, day after the maturity date. The bill amends
Section 371.174, Finance Code, to add a certificate of identification from
the Mexican Consulate and identification issued by the U.S. agency
responsible for citizenship and immigration to the list of identification
forms a pawnbroker may accept.  The bill deletes from that list a
nonresident alien border crossing card, a resident alien border crossing
card, and a U.S. Immigration and Naturalization Service identification. 

EFFECTIVE DATE

September 1, 2003