SRC-AMY S.B. 965 78(R)   BILL ANALYSIS


Senate Research Center   S.B. 965
78R5522 DWS-FBy: Averitt
Business & Commerce
3/24/2003
As Filed


DIGEST AND PURPOSE 

Currently, certain provisions of Texas law do not correspond with the
decreased time period a pawnbroker is  required to hold pledged goods that
was decided by the Texas Sunset Commission during its review of the Office
of Consumer Credit Commissioner.  On the issue of identification
acceptable to a pawnbroker, the border crossing card does not have a
readily recognizable unique number, but the Mexican Consulate has begun
issuing the matricula, which does. Additionally, the law does not reflect
the federal government's restructuring of the previous Immigration and
Naturalization Service.   

As proposed, S.B. 965 decreases the time period a pawnbroker is required
to hold pledged goods from the 61st day after the maturity date to the
31st day.  This bill also replaces the nonresident alien crossing card
with the certificado de matricula consular or an identification issued by
the U.S. agency responsible for citizenship and immigration as acceptable
forms of identification for a pledgor to a pawnbroker; and deletes the
U.S. Immigration and Naturalization Service identification from that list. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 371.157, Finance Code, to require a pawnbroker,
at the time a pawn transaction is entered, to deliver to the pledgor a
pawn ticket or other memorandum that clearly shows the authorization for
the pledged goods to be forfeited to the pawnbroker on the 31st, rather
than the 61st, day after the maturity date. 

SECTION 2.  Amends Section 371.174(b), Finance Code, to include in the
list of acceptable identification, an identification certificate from the
Mexican Consulate, certificado de matricula consular, rather than a
resident alien boarder crossing card, and identification issued by the
agency of the United States responsible for citizenship and immigration.
Deletes from the list a United States Immigration and Naturalization
Service identification.  Makes a conforming change. 

SECTION 3.  Effective date:  September 1, 2003.