Indiana Code 24-4-19-19. Retention of precious metal purchases
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Sec. 19. (a) A precious metal dealer shall hold each article of precious metal purchased by the precious metal dealer for at least ten (10) calendar days after the date the precious metal dealer purchases the precious metal:
(2) separate from other precious metal.
(1) at the precious metal dealer’s permanent place of business where the purchase occurred; and
Terms Used In Indiana Code 24-4-19-19
- permanent place of business: means a fixed premises:
Indiana Code 24-4-19-4
- 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
- purchase: means to acquire property in exchange for cash, credit, or other valuable consideration. See Indiana Code 24-4-19-8
(b) During the ten (10) calendar days that the precious metal dealer must hold precious metal under subsection (a), the precious metal dealer:
(1) may not change the form of the precious metal; and
(2) shall allow a law enforcement officer to inspect the precious metal.
As added by P.L.222-2013, SEC.3.