Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS
Subchapter A - RULES OF OPERATION FOR PAWNSHOPS
Division 2 - PAWNSHOP LICENSE
Section 85.208 - Change in Form or Proportionate Ownership
Current through Reg. 50, No. 13; March 28, 2025
(a) Organizational form. When any licensee or parent of a licensee desires to change the organizational form of its business (e.g., from sole proprietorship to corporation) that results in the exact same owners still owning the business, the licensee must advise the OCCC in writing of the change within 14 calendar days by filing a license amendment and paying the required fees as provided in § 85.211 of this title (relating to Fees). In addition, the licensee must submit a copy of the relevant portions of the organizational document for the new entity (e.g., articles of incorporation) addressing the ownership and management of the new entity.
(b) Merger.
(c) Proportionate ownership.
(d) Notice deadline. A notice filed in connection with a change in proportionate ownership may be filed in advance but must be filed with the OCCC no later than 10 calendar days following the actual change.