Sec. 371.160. MATURITY DATE; MEMORANDUM OF EXTENSION. (a) A pawnbroker may not enter a pawn transaction that has a maturity date later than one month after the date of the transaction.
(b) The pledgor and the pawnbroker by written agreement may change the maturity date of a pawn transaction to a subsequent date.
(c) The written agreement must clearly set out:
(1) the new redemption date; and
(2) the amount of any additional pawn service charge.
(d) The pawnbroker must provide a copy of the written agreement to the pledgor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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