Sec. 371.306. PENALTY FOR CERTAIN VIOLATIONS. (a) A pawnbroker who contracts for, charges, or collects a pawn service charge that is greater than the amount authorized by this chapter or otherwise violates this chapter:
(1) is liable for twice the amount of the pawn service charge contracted for; and
(2) shall return the goods pledged in connection with the pawn transaction on request of the pledgor and payment of the balance due.
(b) A pawnbroker who contracts for, charges, or collects a pawn service charge that is greater than twice the amount authorized by this chapter:
(1) is not entitled to collect any amount on the pawn transaction; and
(2) shall return the goods pledged in connection with the pawn transaction on request of the pledgor.
(c) Subsection (a) or (b) does not apply to a violation that results from an accidental and bona fide error, corrected upon discovery.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subchapter G. Enforcement; Penalties
Section 371.301. Commissioner's Enforcement Powers
Section 371.302. Order to End Violation; Injunction; Damages
Section 371.303. Administrative Penalty
Section 371.304. Acting Without a License; Offenses