| (a) Inactivation of active license. A licensee may
cease operating a pawnshop and choose to inactivate the license. A
license may be inactivated by giving notice of the cessation of operations
not less than 30 calendar days prior to the anticipated inactivation
date. Written notification must be submitted by filing a license amendment
or an approved electronic submission as prescribed by the OCCC. The
notice must include the new mailing address for the license, the effective
date of the inactivation, the fee for amending the license, a certification
that no loans will be made or collected under the license until it
is activated, a notice to pledgors that pawn loans are being relocated,
and a plan ensuring pledged goods are made available for redemption.
If an active license is not being used for the active operation of
a pawnshop, the OCCC may unilaterally place the license in inactive
status. A licensee must continue to pay the annual assessment fees
for an inactive license as outlined in §85.211 of this title
(relating to Fees), or the license will expire as described by §85.104
of this title (relating to License Term, Renewal, and Expiration).
(b) Activation of inactive license. To activate an
inactive license the holder of the inactive license must comply with
the relocation requirements set forth in §85.203 of this title
(relating to Relocation).
(c) Voluntary surrender of license. Subject to §85.606(b)
of this title (relating to Surrender of License), a licensee may voluntarily
surrender a license by providing written notice of the cessation of
operations, a request to surrender the license, and the license certificate.
A voluntary surrender will result in cancellation of the license.
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| Source Note: The provisions of this §85.210 adopted to be effective June 7, 2010, 35 TexReg 3471; amended to be effective July 1, 2014, 39 TexReg 3392; amended to be effective October 1, 2019, 44 TexReg 4719 |
