Tex. Codes » Finance Code · TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · SUBTITLE C. PAWNSHOPS · CHAPTER 371. PAWNSHOPS
Texas Codes

Tex. Fin. Code § 371.003 (2026)

Definitions

✓ current as of May 2026
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Sec. 371.003. DEFINITIONS. In this chapter:

(1) "Applicable liabilities" include trade or other accounts payable; accrued sales, income, or other taxes; accrued expenses; and notes or other payables that are unsecured or secured in whole or part by current assets. The term does not include a liability secured by assets other than current assets.

(2) "Commissioner" means the consumer credit commissioner.

(3) "Current assets" include an investment made in cash, bank deposits, merchandise inventory, and loans due from customers, excluding the pawn service charge. The term does not include an investment made in:

(A) fixed assets of real estate, furniture, fixtures, or equipment;

(B) stocks, bonds, or other securities; or

(C) prepaid expenses or other general intangibles.

(4) "Goods" means tangible personal property.

(5) "Net assets" means the book value of current assets less applicable liabilities.

(6) "Pawnbroker" means a person engaged in the business of:

(A) lending money on the security of pledged goods; or

(B) purchasing goods on condition that the goods may be redeemed or repurchased by the seller for a fixed price within a fixed period.

(7) "Pawnshop" means a location at which or premises in which a pawnbroker regularly conducts business.

(8) "Pawn transaction" means the pledging, by a person present in this state at the time of the transaction, with a pawnbroker of a single item of goods as security for a loan of money.

(9) "Pledged goods" means goods deposited with or otherwise delivered into the possession of a pawnbroker in connection with a pawn transaction.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Amended by:

Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 64, eff. September 1, 2019.

Notes of Decisions
Cited in 6 cases, 1998–2019 · leading case: Cash Am. Int'l Inc. v. Bennett, 35 S.W.3d 12 (Tex. 2000).
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Cash Am. Int'l Inc. v. Bennett, 35 S.W.3d 12 (Tex. 2000). · cites it 2× “" Tex. Fin. Code § 371.003(8). If the loan is not repaid according to its terms, the pawnbroker may keep or sell the goods.”
Chakrabarty v. Ganguly, 573 S.W.3d 413 (Tex. App. 2019). “009 (defining "tangible personal property"); TEX. FIN. CODE ANN. § 371.003 (defining "goods" as "tangible personal property"); Riverside Nat'l Bank v.”
Prado v. Cash Am. Advance, Inc. (In Re Prado), 340 B.R. 574 (Bankr. S.D. Tex. 2006). · cites it 3× “Tex. Fin.Code § 371.003. 3 The Act provides that “[pledged goods not redeemed on or before the 60th day after the original maturity date may, at the option of the pawnbroker, be forfeited to the pawnbroker.”
Bennett v. Cash Am. Int'l, Inc., 982 S.W.2d 620 (Tex. App. 1998). “Tex. Fin.Code Ann. § 371.003(2) (Vernon 1998) (formerly, TexRev.”
in the Interest of I. C. & S. M. C., Child. (Tex. App. 2019). “009 (defining “tangible personal property”); TEX. FIN. CODE ANN. § 371.003 (defining “goods” as “tangible personal property”); Riverside Nat’l Bank v.”
Cary Wilke v. Vickie Phillips A/K/A Vickie Phillips-Wilke (Tex. App. 2013). “Although “goods” are considered tangible personal property, see TEX. FIN. CODE ANN. § 371.003 (West 2006), money is not considered a “good” or “tangible chattel,” but is instead “a currency of exchange that enables the holder to acquire goods.”
— Tex. Fin. Code § 371.003(2) — 1 case
Bennett v. Cash Am. Int'l, Inc., 982 S.W.2d 620 (Tex. App. 1998). “Tex. Fin.Code Ann. § 371.003(2) (Vernon 1998) (formerly, TexRev.”
— Tex. Fin. Code § 371.003(6) — 1 case
Prado v. Cash Am. Advance, Inc. (In Re Prado), 340 B.R. 574 (Bankr. S.D. Tex. 2006). “Tex. Fin.Code § 371.003. 3 The Act provides that “[pledged goods not redeemed on or before the 60th day after the original maturity date may, at the option of the pawnbroker, be forfeited to the pawnbroker.”
— Tex. Fin. Code § 371.003(8) — 1 case
Cash Am. Int'l Inc. v. Bennett, 35 S.W.3d 12 (Tex. 2000). “" Tex. Fin. Code § 371.003(8). If the loan is not repaid according to its terms, the pawnbroker may keep or sell the goods.”
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