CASH TRANSACTION CARD.

(a) A metal recycling entity may pay a seller for a purchase of regulated material by cash or debit card only if, before the entity issues payment:

(1) the seller presents to the entity a valid cash transaction card issued by the entity or by another metal recycling entity located in this state; or

(2) the entity obtains a copy of the seller's cash transaction card from the records of the entity.

(b) An application for the issuance or renewal of a cash transaction card must include:

(1) the name, address, sex, and birth date of the applicant;

(2) the identification number from the applicant's personal identification document;

(3) a digital photograph that accurately depicts the applicant's entire face taken at the time the applicant completes the application;

(4) a clear and legible thumbprint of the applicant; and

(5) the signature of the applicant.

(c) On receipt of an application that contains the information required by Subsection (b), a metal recycling entity may approve the application and issue a cash transaction card to the applicant. The individual approving the application on behalf of the metal recycling entity must sign the application.

(d) A cash transaction card must include:

(1) the name and address of the seller;

(2) a digital photograph of the seller that accurately depicts the seller's entire face;

(3) an identifying number that is unique to the individual card; and

(4) the expiration date of the card, which may not be later than two years from the date the card was issued or renewed.

(e) A metal recycling entity must mail the issued cash transaction card to the address provided on the application for the card.

(f) A cash transaction card issued under this section is not transferable.

(g) A metal recycling entity shall preserve:

(1) each application for a cash transaction card the entity receives until the second anniversary of the date the application was received; and

(2) a copy of each cash transaction card the entity issues or renews until the second anniversary of the date the card was issued or renewed.