§486M-4 Minimum retention of items. (a) No dealer, the dealer's agents, employees, or representatives shall alter, melt, deface, break apart, dispose of, or change the character or integrity of the precious or semiprecious metals or precious or semiprecious gems received or purchased for a period of fifteen calendar days in counties with a population of less than 300,000, and thirty calendar days in counties with a population of 300,000 or more after the purchase or possession by the dealer, whichever comes later. Every article received by the dealer, the dealer's agents, employees, or representatives shall be retained by the dealer in the county where received or purchased for a period of fifteen calendar days in counties with a population of less than 300,000, and thirty calendar days in counties with a population of 300,000 or more after the purchase or possession by the dealer, whichever comes later.
(b) At the discretion of the chief of police of each county, the holding period may be reduced to fifteen calendar days; provided that the dealer has computerized record-keeping and transmittal capabilities acceptable to the chief of police or the chief of police's authorized representative. [L 1982, c 282, pt of §2; gen ch 1985; am L 1991, c 120, pt of §1; am L 1998, c 99, §3]
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