| (a) Applicability. In this section:
(1) the requirements imposed on a pawnbroker apply
to all pawnbrokers; and
(2) the requirements imposed on a pawnshop employee
apply only to employees of pawnbrokers that participate in the pawnshop
employee license program.
(b) Reasonable ground for revocation. Reasonable ground
for revocation of the license exists when a pawnbroker or pawnshop
employee, knowingly or without exercising due care, fails to prevent
a transaction of stolen property, in violation of Texas Finance Code,
Chapter 371.
(c) Enforcement actions. The acceptance of prohibited
merchandise in violation of §85.418(a)(1) or (3) of this title
(relating to Acceptance of Goods), may subject the pawnbroker and
pawnshop employee to one or more of the following enforcement actions
under Texas Finance Code, Chapters 14 and 371:
(1) an injunction;
(2) an administrative penalty;
(3) a suspension; or
(4) a revocation.
(d) Multiple violations. Multiple violations may result
in an additional enforcement action.
|
| Source Note: The provisions of this §85.702 adopted to be effective April 5, 2001, 26 TexReg 2537; amended to be effective June 7, 2010, 35 TexReg 3471; amended to be effective July 1, 2014, 39 TexReg 3392; amended to be effective January 1, 2017, 41 TexReg 8815; amended to be effective February 1, 2019, 43 TexReg 8584; amended to be effective October 1, 2019, 44 TexReg 4719 |
