(a) Generally. An initial registration for a permanent location is effective from the date of its issuance until December 31. For each calendar year following the initial registration for a permanent registered location, a crafted precious metal dealer must renew the registration annually. A registration for a permanent registered location expires on December 31 of each year. After renewal, a registration is effective for a term of one year, from January 1 to December 31.
(b) Renewal procedure. A crafted precious metal dealer may renew its registration for a permanent registered location by providing the following:
  (1) the fees required by §85.1011 of this title (relating to Fees); and
  (2) any information required by the OCCC.
(c) Due date for renewal fees and information. The fees and information described by subsection (b) of this section are due by December 31 of each year.
(d) Late renewal.
  (1) If a crafted precious metal dealer renews its registration on or before the 30th day following expiration (i.e., on or before January 30), then there is no late renewal fee.
  (2) If a crafted precious metal dealer renews its registration after the 30th day following expiration, but on or before the 180th day following expiration, then the dealer must pay a late renewal fee of $50 for each permanent registered location, in addition to the fees described by §85.1011 of this title.
  (3) A registration for a permanent registered location may not be renewed after the 180th day following expiration. In order to obtain a registration, the crafted precious metal dealer must reapply under §85.1002 of this title (relating to Filing of New Application).
(e) Administrative penalty. If a person has engaged in the purchase of crafted precious metal while its registration was not effective, the person may be subject to an administrative penalty under Texas Occupations Code, §1956.0615.
(f) Temporary locations. A registration for a temporary location is effective from the date of its issuance until it expires on December 31. A registration for a temporary location is not renewable.

Source Note: The provisions of this §85.1007 adopted to be effective May 10, 2018, 43 TexReg 2762; amended to be effective September 5, 2019, 44 TexReg 4722