Texas Occupations Code 1956.055 – Exception: Crafted Precious Metal Acquired From Another Dealer Who Previously Made Required Reports
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Terms Used In Texas Occupations Code 1956.055
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
This subchapter does not apply to crafted precious metal acquired in good faith in a transaction involving the stock-in-trade of another dealer who previously made the reports concerning that metal as required by this subchapter if:
(1) the selling dealer delivers to the acquiring dealer a written document stating that the reports have been made;
(2) the acquiring dealer submits a copy of the statement to the chief of police of the municipality or the sheriff of the county in which the selling dealer is located; and
(3) each dealer involved in the transaction retains a copy of the statement until the third anniversary of the date of the transaction.