Section 85.1001 - DefinitionsThe following terms, when used in this subchapter, have the following meanings:
(1) Broken item--An item that has been damaged so that it cannot be used for its original purpose without substantial repair.(2) Crafted precious metal--Has the meaning provided by Texas Occupations Code, § RSA 1956.051(3). The term does not include a coin, a bar, a commemorative medallion, an item that contains incidental or trace amounts of precious metal, or an item that is purchased by a dealer for 105% or more of the item's scrap value.(3) Date of purchase. (A) For in-person sales, the date of purchase is the date the seller transfers the crafted precious metal to the dealer. (B) For mail order or Internet sales, the date of purchase is the earlier of: (i) the date the dealer sends payment for the crafted precious metal; or (ii) the date the seller agrees by phone or written communication to a price offered by the dealer.(4) Local law enforcement. (A) For in-person sales, local law enforcement is: (i) the chief of police of the municipality where the sale occurs, if the sale occurs in a municipality that maintains a police department; or (ii) the sheriff of the county where the sale occurs, if the sale does not occur in a municipality that maintains a police department.(B) For mail order or Internet sales, local law enforcement is: (i) if the seller resides in Texas: (I) the chief of police of the municipality where the seller resides, if the seller resides in a municipality that maintains a police department; or (II) the sheriff of the county where the seller resides, if the seller does not reside in a municipality that maintains a police department; or(ii) if the seller does not reside in Texas and the dealer's permanent registered location is in Texas: (I) the chief of police of the municipality of the dealer's permanent registered location, if the dealer's permanent registered location is in a municipality that maintains a police department; or (II) the sheriff of the county of the dealer's permanent registered location, if the dealer's permanent registered location is not in a municipality that maintains a police department.(5) OCCC--The Office of Consumer Credit Commissioner of the State of Texas. (6) Permanent registered location--A location where a crafted precious metal dealer engages in the business of buying crafted precious metal for one year or longer.(7) Scrap--An item that is intended to be melted down or otherwise transformed so that it will not be used for its original purpose. (8) Scrap value--The value at which an item would be purchased by a person who will melt the item or otherwise transform it so that it will not be used for its original purpose. (9) Seller--An individual selling crafted precious metal to a dealer, including a transferor. (10) Temporary location--A location where a crafted precious metal dealer engages in the business of buying crafted precious metal for less than one year.7 Tex. Admin. Code § 85.1001
The provisions of this §85.1001 adopted to be effective November 10, 2011, 36 TexReg 7531; Amended by Texas Register, Volume 41, Number 10, March 4, 2016, TexReg 1680, eff. 3/10/2016