Finance Code › Title 4 › Chapter 371 › Subchapter D

Texas Finance Code § 371.161

Early Redemption: Reduction of Pawn Service Charge

Pawnshops · Operation of Pawnshops

If a pledgor redeems the pledged goods before the maturity date of the pawn transaction, any part of the pawn service charge that exceeds $15 shall be reduced by an amount equal to one-thirtieth of the total pawn service charge for each day between the date on which redemption occurs and the original maturity date.

Official text of the Texas Finance Code as published by the Texas Legislative Council.

Official source
Legislative history

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