Texas Occupations Code 1956.0381 – Payment by Metal Recycling Entity
(a) A metal recycling entity may pay for a purchase of regulated material only by:
(1) cash if the seller has been issued a cash transaction card under § 1956.0382, unless the metal recycling entity is prohibited from paying in cash under § 1956.038(b);
(2) debit card if the seller has been issued a cash transaction card under § 1956.0382;
(3) check;
(4) money order; or
(5) direct deposit by electronic funds transfer.
(b) A metal recycling entity shall include in the record of purchase required by § 1956.033, as applicable, a copy of:
(1) the seller’s cash transaction card or approved application for a cash transaction card if the entity paid for a purchase of regulated material by cash;
(2) the debit card receipt and the seller’s cash transaction card or approved application for a cash transaction card if the entity paid for a purchase of regulated material by debit card; or
(3) the check if the entity paid for a purchase of regulated material by check.
Terms Used In Texas Occupations Code 1956.0381
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC