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Senate Bill 1132 |
Senate Author: Johnson et al. |
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Effective: See below |
House Sponsor: Turner, John |
Senate Bill 1132 amends the Occupations Code to authorize the consumer credit commissioner or the commissioner's representative to examine each place of business of each dealer of crafted precious metal and investigate the dealer's transactions and records to the extent the transactions and records pertain to the business of the sale of crafted precious metal. A dealer must give the commissioner or the commissioner's representative free access to the dealer's office, place of business, files, safes, and vaults and allow the commissioner or the representative to make a copy of an item that may be investigated. The bill requires the commissioner or the representative to examine at least 10 dealers each calendar year. These provisions take effect January 1, 2022, and do not apply to a jewelry store.
Senate Bill 1132 requires the commissioner, as soon as practicable after an enforcement order against a dealer for an applicable violation of law becomes final, to provide notice of the order to the chief of police of the municipality in which the violation occurred or to the sheriff of the county in which the violation occurred, if the violation did not occur in a municipality. The bill also repeals provisions establishing the applicability of, and certain exceptions to, provisions governing the sale of crafted precious metal to dealers. Except as otherwise provided by the bill, the bill takes effect September 1, 2021.