Section 371.002 - Purposes The purposes of this chapter are to:
(1) prevent fraud, unfair practices, discrimination, imposition, and abuse of state residents;(2) exercise the state's police power to ensure a sound system of making pawn loans and transfers of personal property by and through pawnshops;(3) prevent transactions in stolen property and other unlawful property transactions by licensing and regulating pawnbrokers;(4) provide for licensing and investigation fees;(5) provide minimum capital requirements for pawnbrokers;(6) ensure financial responsibility to the state and its residents and compliance with federal, state, and local law, including rules and ordinances; and(7) assist local governments in the exercise of their police power.Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 767,Sec. 63, eff. 9/1/2019. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.