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A BILL TO BE ENTITLED
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AN ACT
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relating to the regulation of crafted precious metals dealers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1956.051(3), Occupations Code, is |
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amended to read as follows: |
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(3) "Crafted precious metal" means jewelry, |
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silverware, an art object, or another object, made wholly or partly |
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from precious metal, including [other than] a coin, a bar, a |
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commemorative medallion, and [or] scrap or a broken item [selling
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at five percent or more than the scrap value of the item]. |
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SECTION 2. Section 1956.052, Occupations Code, is amended |
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to read as follows: |
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Sec. 1956.052. APPLICABILITY OF SUBCHAPTER. This |
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subchapter applies only to crafted precious metal that has been |
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previously sold or used [primarily for personal, family, or
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household purposes]. |
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SECTION 3. Subchapter B, Chapter 1956, Occupations Code, is |
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amended by adding Section 1956.0601 to read as follows: |
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Sec. 1956.0601. EXCEPTION: FINANCIAL INSTITUTIONS. This |
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subchapter does not apply to a financial institution as defined by |
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Section 201.101, Finance Code. |
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SECTION 4. Section 1956.064(a), Occupations Code, is |
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amended to read as follows: |
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(a) A dealer may not melt, deface, alter, or dispose of |
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crafted precious metal that is the subject of a report required by |
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this subchapter before the 21st [11th] day after the date the report |
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is filed unless: |
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(1) the peace officer to whom the report is submitted, |
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for good cause, authorizes disposition of the metal; or |
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(2) [the dealer obtains the name, address, and
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description of the buyer and retains a record of that information;
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or
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[(3)] the dealer is a pawnbroker and the disposition |
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is the redemption of pledged property by the pledgor. |
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SECTION 5. The changes in law made by this Act apply only to |
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an offense committed on or after the effective date of this Act. An |
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offense committed before the effective date of this Act is governed |
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by the law in effect on the date the offense was committed, and the |
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former law is continued in effect for that purpose. For purposes of |
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this section, an offense was committed before the effective date of |
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this Act if any element of the offense occurred before that date. |
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SECTION 6. This Act takes effect January 1, 2014. |