Sec. 14. (a) If a precious metal dealer purchases precious metal from a seller, the precious metal dealer shall:

(1) verify the identity of the seller by use of a government issued photographic identification;

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Terms Used In Indiana Code 24-4-19-14

  • precious metal: means :

    Indiana Code 24-4-19-6

  • precious metal dealer: means a person who engages in the business of purchasing precious metal for the purpose of reselling the precious metal in any form. See Indiana Code 24-4-19-7
  • seller: means a consumer or other person who sells precious metal to a precious metal dealer. See Indiana Code 24-4-19-9
(2) make a copy of the seller’s government issued photographic identification; and

(3) take a photograph of the precious metal.

     (b) A precious metal dealer shall retain a copy of the:

(1) government issued photographic identification; and

(2) photograph;

described in subsection (a) as required in section 15(e) of this chapter.

As added by P.L.222-2013, SEC.3.

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