85R4157 TSR-F
By: Longoria H.B. No. 517
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, 2017.