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By:  Averitt                                                      S.B. No. 965


A BILL TO BE ENTITLED

AN ACT

relating to documentation in certain transactions involving a 
pawnbroker.   
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 371.157, Finance Code, is amended to 
read as follows:    
	Sec. 371.157.  PAWN TICKET.  A pawnbroker, at the time a pawn 
transaction is entered, shall deliver to the pledgor a pawn ticket 
or other memorandum that clearly shows:
		(1)  the name and address of the pawnshop;                                    
		(2)  the pledgor'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 pledgor;
		(3)  the date of the transaction;                                             
		(4)  an identification and description of the pledged 
goods, including serial numbers if reasonably available;
		(5)  the amount of cash advanced or credit extended to 
the pledgor, designated as "Amount Financed";
		(6)  the amount of the pawn service charge, designated 
as "Finance Charge"; 
		(7)  the total amount, consisting of the amount 
financed plus the finance charge, that must be paid to redeem the 
pledged goods on the maturity date, designated as "Total of 
Payments";
		(8)  the "Annual Percentage Rate," computed according 
to regulations issued by the Federal Reserve Board under the Truth 
in Lending Act (15 U.S.C. Section 1601 et seq.), as amended;
		(9)  the maturity date of the pawn transaction; and                           
		(10)  a statement that:                                                       
			(A)  the pledgor is not obligated to redeem the 
pledged goods; and         
			(B)  the pledged goods may be forfeited to the 
pawnbroker on the 31st [61st] day after the maturity date.
	SECTION 2.  Subsection (b), Section 371.174, Finance Code, 
is amended to read as follows:
	(b)  Identification is acceptable only if it contains a 
photograph of the pledgor or seller and is:
		(1)  a state driver's license;                                                
		(2)  a state identification card;                                             
		(3)  a passport;                                                              
		(4)  a military identification;                                               
		(5)  a certificate of identification from the Mexican 
Consulate, certificado de matricula consular [nonresident alien 
border crossing card]; or
		(6)  identification issued by the agency of the United 
States responsible for citizenship and immigration [a resident 
alien border crossing card; or
		[(7)  a United States Immigration and Naturalization 
Service identification].
	SECTION 3.  This Act takes effect September 1, 2003.