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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 metal 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, that is selling at less than 105 percent of the |
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scrap value of the object, other than a coin, a bar, or a |
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commemorative medallion[, or scrap or a broken item selling at five
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percent or more than the scrap value of the item]. |
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SECTION 2. Section 1956.0613, Occupations Code, is amended |
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to read as follows: |
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Sec. 1956.0613. INVESTIGATION BY COMMISSIONER; INSPECTION |
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OF RECORDS. (a) The commissioner shall: |
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(1) monitor the operations of a dealer to ensure |
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compliance with this subchapter [chapter]; and |
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(2) receive and investigate complaints against a |
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dealer or a person acting as a dealer. |
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(b) If the commissioner receives a written complaint |
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regarding a violation of this subchapter by a person, or has |
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reasonable cause to believe that a person is violating this |
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subchapter, the commissioner or the commissioner's authorized |
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representative may inspect any record, account, paper, book, or |
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correspondence of the person, regardless of whether the person is |
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registered as a dealer. |
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(c) The commissioner or the commissioner's authorized |
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representative may take statements under oath in an investigation |
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of a matter under this subchapter. |
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SECTION 3. Section 1956.063, Occupations Code, is amended |
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by amending Subsections (c) and (d) and adding Subsection (c-1) to |
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read as follows: |
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(c) For each transaction regulated by this subchapter, the |
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dealer shall submit a report on a preprinted and prenumbered form |
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prescribed by the commissioner or in the manner described by |
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Subsection (c-1). The form must include the following: |
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(1) the date of the transaction; |
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(2) a description of the crafted precious metal |
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purchased by the dealer; |
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(3) the name and physical address of the dealer; and |
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(4) the name, physical description, and physical |
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address of the seller or transferor. |
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(c-1) A dealer may submit a list required by Section |
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1956.062(b) in satisfaction of the reporting requirement of this |
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section if the list contains the information described by |
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Subsection (c). |
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(d) The dealer shall retain a copy of the report until the |
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later of: |
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(1) the second anniversary of the date the dealer |
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sells or otherwise disposes of the crafted precious metal purchased |
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by the dealer; or |
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(2) the third anniversary of the date the report is |
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filed. |
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SECTION 4. Sections 1956.064(b) and (c), Occupations Code, |
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are amended to read as follows: |
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(b) A peace officer who has reasonable suspicion to believe |
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that an item of crafted precious metal in the possession of a |
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dealer, or in the possession of another person on behalf of the |
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dealer, is stolen may place the item on hold for a period not to |
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exceed 60 days by issuing to the dealer or other person a written |
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notice that: |
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(1) specifically identifies the item alleged to be |
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stolen and subject to the hold; and |
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(2) informs the dealer or other person of the |
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requirements of Subsection (c). |
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(c) On receiving the notice, the dealer or other person may |
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not melt, deface, alter, or dispose of the identified crafted |
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precious metal until the hold is released in writing by a peace |
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officer of this state or a court order. |
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SECTION 5. Section 14.201, Finance Code, is amended to read |
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as follows: |
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Sec. 14.201. INVESTIGATION AND ENFORCEMENT AUTHORITY. |
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Investigative and enforcement authority under this subchapter |
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applies only to: |
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(1) Section 339.001; |
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(2) [,] this chapter; |
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(3) [,] Subtitles B and C, [of] Title 4; |
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(4) [,] Chapter 393 with respect to a credit access |
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business; |
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(5) [, and] Chapter 394; and |
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(6) Subchapter B, Chapter 1956, Occupations Code. |
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SECTION 6. Section 1956.063(d), Occupations Code, as |
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amended by this Act, applies to a report filed under Section |
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1956.063, Occupa |
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tions Code, on or after the effective date of this |
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Act. |
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SECTION 7. This Act takes effect September 1, 2015. |