83R7207 DDT-D
By: Raymond H.B. No. 1649
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of crafted precious metals 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, including [other than] a coin, a bar, a
commemorative medallion, and [or] scrap or a broken item [selling
at five percent or more than the scrap value of the item].
SECTION 2. Section 1956.052, Occupations Code, is amended
to read as follows:
Sec. 1956.052. APPLICABILITY OF SUBCHAPTER. This
subchapter applies only to crafted precious metal that has been
previously sold or used [primarily for personal, family, or
household purposes].
SECTION 3. Subchapter B, Chapter 1956, Occupations Code, is
amended by adding Section 1956.0601 to read as follows:
Sec. 1956.0601. EXCEPTION: FINANCIAL INSTITUTIONS. This
subchapter does not apply to a financial institution as defined by
Section 201.101, Finance Code.
SECTION 4. Section 1956.064(a), Occupations Code, is
amended to read as follows:
(a) A dealer may not melt, deface, alter, or dispose of
crafted precious metal that is the subject of a report required by
this subchapter before the 21st [11th] day after the date the report
is filed unless:
(1) the peace officer to whom the report is submitted,
for good cause, authorizes disposition of the metal; or
(2) [the dealer obtains the name, address, and
description of the buyer and retains a record of that information;
or
[(3)] the dealer is a pawnbroker and the disposition
is the redemption of pledged property by the pledgor.
SECTION 5. The changes in law made by this Act apply only to
an offense committed on or after the effective date of this Act. An
offense committed before the effective date of this Act is governed
by the law in effect on the date the offense was committed, and the
former law is continued in effect for that purpose. For purposes of
this section, an offense was committed before the effective date of
this Act if any element of the offense occurred before that date.
SECTION 6. This Act takes effect January 1, 2014.