Sprinkle brisket with seasoned salt and pepper. In a Dutch oven, brown meat in oil on both sides. Remove and keep warm. In the same pan, saute onions and garlic until tender. Return brisket to pan.
Combine broth, chili sauce, brown sugar, vinegar, chili powder and bay leaves; pour over meat. Bring to a boil. Reduce heat; cover and simmer for 2-1/2 to 3 hours or until meat is tender.
Remove brisket to a serving platter. Skim fat from cooking juices; discard bay leaves. Combine flour and cold water until smooth; stir into pan. Bring to a boil; cook and stir for 2 minutes or until thickened. Thinly slice meat across the grain; serve with sauce. Yield: 8 servings.