| (a) Notice of lost pawn ticket. When oral notification
is received from a pledgor that the pledgor's pawn ticket has been
lost or stolen, the pledgor must be instructed to give the notice
in writing and informed that pledged items may still be taken into
inventory after the last day of grace if the pawn transaction is not
renewed, redeemed, or extended. The date and time the oral notification
was received must be documented. If the pledgor is present in the
pawnshop at the time of giving oral notice, the pledgor must be provided
with a form to give written notice. If the suggested guideline in
subsection (d) of this section is employed, the pledgor who gives
oral notification should be informed that without a written statement
of the lost pawn ticket, the goods will be surrendered to someone
who properly presents the pawn ticket for redemption. A lost pawn
ticket statement must be filed in the numerical pawn ticket file.
(b) Record of payment. If a payment is made in connection
with the redemption of pledged goods or the renewal of a pawn transaction
and a separate lost pawn ticket statement is used, the requirement
may be satisfied by recording the payment on the front of the lost
pawn ticket statement, as well as the date of the transaction and
the amount of money actually received. The lost pawn ticket statement
must be filed in the numerical pawn ticket file.
(c) Redemption or renewal procedure. Appropriate procedures
must be employed to ensure that only a person with a valid claim to
a pledged item is able to redeem that item. Upon receipt of written
notice of a lost pawn ticket, the original pawn ticket is void. The
written notice of a lost pawn ticket must be signed by the original
pledgor or a person with the legal capacity to represent the original
pledgor. A person with the legal capacity to represent the original
pledgor includes: an administrator or executor of an estate, a person
designated as an attorney-in-fact for the original pledgor with a
valid power of attorney, or a person appointed by a court of competent
jurisdiction. If someone other than the original pledgor signs the
written notice of a lost pawn ticket, the pawnbroker must maintain
copies of the supporting records (a copy of the will, power of attorney,
or court order) in either the original pawn ticket file or the numerical
hard card file.
(d) Suggested guidelines. These suggested guidelines
are intended to give pawnshops considerable flexibility to fit individual
needs while providing some guidance. Modifications to the guidelines
may be made without the loss of protection from any liability defense.
When oral notification that a pawn ticket has been lost or stolen
is received, the pledgor is instructed to give the notice in writing
within the next two business days. If a person other than the pledgor
presents the pawn ticket in an attempt to redeem the item prior to
timely receiving written notice, it is suggested that:
(1) an immediate attempt to contact the pledgor by
telephone be made in order to determine if the presenter has a valid
claim to the item;
(2) a record of identifying information be made in
the numerical file of loans, including name, identification number,
address, and phone number, of the presenter of the pawn ticket;
(3) when ownership cannot be immediately determined,
a request be made that the presenter of the pawn ticket return in
a mutually agreeable time frame to redeem the merchandise and return
the original pawn ticket to the holder; and
(4) all actions taken relating to the situation be
documented in a clear manner to accurately record the events.
|
| Source Note: The provisions of this §85.410 adopted to be effective October 1, 2000, 25 TexReg 9435; amended to be effective September 19, 2005, 30 TexReg 5337; amended to be effective June 7, 2010, 35 TexReg 3471; amended to be effective July 1, 2014, 39 TexReg 3392 |
