2015S0382-1 03/04/15
 
  By: Eltife S.B. No. 957
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the regulation of crafted precious metal dealers.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1956.051(3), Occupations Code, is
  amended to read as follows:
               (3)  "Crafted precious metal" means jewelry,
  silverware, an art object, or another object, made wholly or partly
  from precious metal, that is selling at less than 105 percent of the
  scrap value of the object, other than a coin, a bar, or a
  commemorative medallion[, or scrap or a broken item selling at five
  percent or more than the scrap value of the item].
         SECTION 2.  Section 1956.0613, Occupations Code, is amended
  to read as follows:
         Sec. 1956.0613.  INVESTIGATION BY COMMISSIONER; INSPECTION
  OF RECORDS.  (a) The commissioner shall:
               (1)  monitor the operations of a dealer to ensure
  compliance with this subchapter [chapter]; and
               (2)  receive and investigate complaints against a
  dealer or a person acting as a dealer.
         (b)  If the commissioner receives a written complaint
  regarding a violation of this subchapter by a person, or has
  reasonable cause to believe that a person is violating this
  subchapter, the commissioner or the commissioner's authorized
  representative may inspect any record, account, paper, book, or
  correspondence of the person, regardless of whether the person is
  registered as a dealer.
         (c)  The commissioner or the commissioner's authorized
  representative may take statements under oath in an investigation
  of a matter under this subchapter.
         SECTION 3.  Section 1956.063, Occupations Code, is amended
  by amending Subsections (c) and (d) and adding Subsection (c-1) to
  read as follows:
         (c)  For each transaction regulated by this subchapter, the
  dealer shall submit a report on a preprinted and prenumbered form
  prescribed by the commissioner or in the manner described by
  Subsection (c-1).  The form must include the following:
               (1)  the date of the transaction;
               (2)  a description of the crafted precious metal
  purchased by the dealer;
               (3)  the name and physical address of the dealer; and
               (4)  the name, physical description, and physical
  address of the seller or transferor.
         (c-1)  A dealer may submit a list required by Section
  1956.062(b) in satisfaction of the reporting requirement of this
  section if the list contains the information described by
  Subsection (c).
         (d)  The dealer shall retain a copy of the report until the
  later of:
               (1)  the second anniversary of the date the dealer
  sells or otherwise disposes of the crafted precious metal purchased
  by the dealer; or
               (2)  the third anniversary of the date the report is
  filed.
         SECTION 4.  Sections 1956.064(b) and (c), Occupations Code,
  are amended to read as follows:
         (b)  A peace officer who has reasonable suspicion to believe
  that an item of crafted precious metal in the possession of a
  dealer, or in the possession of another person on behalf of the
  dealer, is stolen may place the item on hold for a period not to
  exceed 60 days by issuing to the dealer or other person a written
  notice that:
               (1)  specifically identifies the item alleged to be
  stolen and subject to the hold; and
               (2)  informs the dealer or other person of the
  requirements of Subsection (c).
         (c)  On receiving the notice, the dealer or other person may
  not melt, deface, alter, or dispose of the identified crafted
  precious metal until the hold is released in writing by a peace
  officer of this state or a court order.
         SECTION 5.  Section 14.201, Finance Code, is amended to read
  as follows:
         Sec. 14.201.  INVESTIGATION AND ENFORCEMENT AUTHORITY.  
  Investigative and enforcement authority under this subchapter
  applies only to:
               (1)  Section 339.001;
               (2)  [,] this chapter;
               (3)  [,] Subtitles B and C, [of] Title 4;
               (4)  [,] Chapter 393 with respect to a credit access
  business;
               (5)  [, and] Chapter 394; and 
               (6)  Subchapter B, Chapter 1956, Occupations Code.
         SECTION 6.  Section 1956.063(d), Occupations Code, as
  amended by this Act, applies to a report filed under Section
  1956.063, Occupations Code, on or after the effective date of this
  Act.
         SECTION 7.  This Act takes effect September 1, 2015.