| (VIII) action taken to close the pawn transaction (i.e.,
renewed, redeemed, voided, forfeited, or seized);
(IX) if applicable, date and dollar amount of each
memorandum of extension payment; and
(X) if applicable, dollar amount paid to redeem or
renew the pawn transaction (i.e., amount paid itemized to show the
allocation between the amount financed, pawn service charge, additional
daily charges, and the lost pawn ticket statement).
(ii) Active or open transactions. The loan disposition
report may contain active or open pawn transactions. If a pawn transaction
is active or open when the loan disposition report is printed or electronically
imaged, the closing date should be left blank and the action taken
to close the pawn transaction should be shown as "active" or "open."
(D) Timing. If the licensee is not manually recording
the payment information on the hard cards pursuant to subsection (f)
of this section, the loan disposition report and supplemental loan
disposition report must be printed or stored as an electronically
imaged or archived record every month.
(i) Loan disposition report. The loan disposition report
must capture all pawn transactions, including active or open, that
were made for a particular calendar month. The report must be produced
four or five months after the completion of the reporting period,
depending upon the length of the grace period. If a 30-day grace period
is offered, the report must contain information for pawn transactions
made four months prior. If a 60-day grace period is offered, the report
must contain information for pawn transactions made five months prior.
As an example, in May 2015, the loan disposition report must be printed
or electronically imaged to include all pawn transactions that were
made during the calendar month of December 2014 (60-day grace period)
or January 2015 (30-day grace period).
(ii) Supplemental loan disposition report. The supplemental
loan disposition report must be printed to capture all pawn transactions
that were closed or have had a final disposition (i.e., renewed, redeemed,
voided, forfeited, or seized) in the previous calendar month. As an
example, in May 2015, the supplemental loan disposition report must
include all pawn transactions that were closed in the previous month
of April 2015 (i.e., April 1, 2015 to April 30, 2015).
(3) Disaster recovery plan. A pawnbroker must maintain
a sufficient disaster recovery plan to ensure that pawn and purchase
ticket information is not destroyed, lost, or damaged.
(4) Access by OCCC personnel. The pawnbroker must provide
reasonable access to a computer workstation capable of accessing and
retrieving pawn and purchase ticket information throughout the examination
or investigation conducted by the commissioner's representatives.
A pawnbroker may provide the commissioner or the commissioner's representatives
the same information in physical form as an alternative to reasonable
access to a computer workstation.
(h) Military Lending Act records.
(1) A licensee must maintain any record that the licensee
obtains under the Department of Defense's Military Lending Act Rule,
32 C.F.R. §232.5, regarding whether a consumer is a covered borrower.
The licensee must maintain the record for at least two years after
the last recorded event, as provided by subsection (b).
(2) A licensee must maintain any mandatory disclosure
to a covered borrower under the Military Lending Act Rule, 32 C.F.R. §232.6.
The licensee must maintain the disclosure for at least two years after
the last recorded event, as provided by subsection (b).
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| Source Note: The provisions of this §85.402 adopted to be effective October 1, 2000, 25 TexReg 9435; amended to be effective February 1, 2006, 30 TexReg 8856; amended to be effective June 7, 2010, 35 TexReg 3471; amended to be effective June 6, 2011, 36 TexReg 2726; 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 |
