(a)For each item of precious metal sold to a precious metal dealer, he or she shall:
(1)assign a distinct entry number or, in the case of a lot of items, an entry number for the lot and a sub-lot number for each unmatched item in the lot;
(2)maintain the following records for each item or lot of items:
(A)the amount of money paid and the date and time of the transaction;
(B)the name, current address, and telephone number of the seller;
(C)a legible description written on the day of the transaction that includes for each item any distinguishing mark and name of any kind, such as brand and model name, model and serial number, engraving, etching, affiliation with any institution or organization, date, initials, color, vintage, or image represented;
(D)a digital photograph or video, tak
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(a) For each item of precious metal sold to a precious metal dealer, he or she shall:
(1) assign a distinct entry number or, in the case of a lot of items, an entry number for the lot and a sub-lot number for each unmatched item in the lot;
(2) maintain the following records for each item or lot of items:
(A) the amount of money paid and the date and time of the transaction;
(B) the name, current address, and telephone number of the seller;
(C) a legible description written on the day of the transaction that includes for each item any distinguishing mark and name of any kind, such as brand and model name, model and serial number, engraving, etching, affiliation with any institution or organization, date, initials, color, vintage, or image represented;
(D) a digital photograph or video, taken at the time of the transaction, that references the entry number required under subdivision (a)(1) of this section and the date of the transaction;
(E)(i) a government-issued identification card issued to the seller that bears his or her photograph; or
(ii) a government-issued identification card and a digital photograph of the seller’s face; and
(F) documentation of lawful ownership, including a bill of sale, receipt, letter of authorization, or similar evidence, provided that if these forms of documentation are unavailable, the seller shall submit an affidavit of ownership.
(b) A precious metal dealer who sells $50,000.00 or more of precious metal in a consecutive 12-month period shall maintain the records required in this section in a computerized format that can be readily accessed, electronically transmitted, and reproduced in physical form.
(c)(1) A precious metal dealer shall retain the records required in this section for at least three years at his or her normal place of business or other readily accessible and secure location.
(2) At all reasonable times, the records required under this section shall be open to the inspection of law enforcement. (Added 2013, No. 196 (Adj. Sess.), § 3, eff. Jan. 1, 2015.)