Bill Text: NY S02618 | 2013-2014 | General Assembly | Amended

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Bill Title: Requires dealers in second-hand precious metals to maintain certain records related to the purchase of such items.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-05-08 - PRINT NUMBER 2618D [S02618 Detail]

Download: New_York-2013-S02618-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2618--D
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 23, 2013
                                      ___________
       Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
         printed to be committed to the Committee  on  Consumer  Protection  --
         recommitted to the Committee on Consumer Protection in accordance with
         Senate  Rule  6, sec. 8 -- committee discharged, bill amended, ordered
         reprinted as amended and recommitted to said  committee  --  committee
         discharged, bill amended, ordered reprinted as amended and recommitted
         to  said  committee  --  committee  discharged,  bill amended, ordered
         reprinted as amended and recommitted to said  committee  --  committee
         discharged, bill amended, ordered reprinted as amended and recommitted
         to said committee
       AN ACT to amend the general business law, in relation to the purchase of
         second-hand precious metals
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The general business law is amended by adding a new section
    2  391-t to read as follows:
    3    S 391-T. SECOND-HAND PRECIOUS METALS; RECORDS.  1.  DEFINITIONS.    AS
    4  USED IN THIS SECTION:
    5    (A) "DEALER" SHALL MEAN ANY PERSON WHO, IN THE REGULAR COURSE OF BUSI-
    6  NESS,  DEALS IN THE PURCHASE OF SECOND-HAND ARTICLES OR THINGS COMPRISED
    7  OF GOLD, SILVER OR PLATINUM FOR THE PURPOSE OF RESALE, MELTING OR REFIN-
    8  ING, AND SHALL INCLUDE COLLATERAL LOAN BROKERS.
    9    (B) "PERSON" SHALL MEAN AN INDIVIDUAL OR BUSINESS ENTITY, INCLUDING  A
   10  COLLATERAL LOAN BROKER AS DEFINED IN SECTION FIFTY-TWO OF THIS CHAPTER.
   11    (C)  "SELLER"  SHALL MEAN ANY PERSON WHO SELLS ANY SECOND-HAND ARTICLE
   12  OR THING COMPRISED OF GOLD, SILVER OR PLATINUM.
   13    2. NO DEALER SHALL TAKE POSSESSION OF AND  PROVIDE  CONSIDERATION  FOR
   14  ANY SECOND-HAND ITEM COMPRISED OF GOLD, SILVER OR PLATINUM FROM A SELLER
   15  WITHOUT  CONFIRMING THE IDENTITY OF SUCH SELLER UPON PRESENTATION OF TWO
   16  FORMS OF IDENTIFICATION. THE DEALER SHALL  MAINTAIN  A  RECORD  OF  EACH
   17  SECOND-HAND  ITEM  COMPRISED OF GOLD, SILVER OR PLATINUM HE OR SHE TAKES
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07113-09-4
       S. 2618--D                          2
    1  POSSESSION OF, AND SUCH RECORD SHALL INCLUDE A  COPY  OF  THE  FORMS  OF
    2  IDENTIFICATION  PRESENTED  BY  THE  SELLER  AND  A  TELEPHONE NUMBER AND
    3  ADDRESS AT WHICH THE SELLER MAY BE CONTACTED. EACH DEALER  SHALL  INSTI-
    4  TUTE  REASONABLE MEASURES TO KEEP SUCH RECORDS SECURE.  ALL SUCH RECORDS
    5  SHALL BE MAINTAINED BY THE DEALER FOR A PERIOD  OF  NOT  LESS  THAN  TWO
    6  YEARS,  AND  SHALL  ONLY  BE MADE AVAILABLE FOR INSPECTION DURING NORMAL
    7  BUSINESS HOURS BY THE ATTORNEY GENERAL OR  HIS  OR  HER  DESIGNEES,  THE
    8  LOCAL LICENSING AUTHORITY OR A POLICE OFFICER.
    9    3.  UPON  TAKING POSSESSION OF ANY SECOND-HAND ITEM COMPRISED OF GOLD,
   10  SILVER OR PLATINUM, A DEALER SHALL RETAIN POSSESSION OF SUCH ITEM FOR  A
   11  PERIOD  OF  NOT  LESS THAN SEVENTY-TWO HOURS.  THE GOVERNING BODY OF THE
   12  CITY, TOWN OR VILLAGE IN WHICH THE DEALER IS LOCATED MAY ESTABLISH FINES
   13  AND PENALTIES OF NOT LESS THAN TWENTY-FIVE DOLLARS  NOR  MORE  THAN  ONE
   14  HUNDRED  DOLLARS  FOR  VIOLATIONS OF THE PROVISIONS OF THIS SUBDIVISION.
   15  SUCH CITY, TOWN OR VILLAGE SHALL HAVE FULL POWER AND AUTHORITY, AFTER  A
   16  HEARING, TO IMPOSE SUCH FINES AND PENALTIES UPON A FINDING THAT A DEALER
   17  VIOLATED THIS SUBDIVISION.
   18    4. NO PROVISION OF THIS SECTION SHALL BE DEEMED TO PREEMPT OR PROHIBIT
   19  ANY  MUNICIPALITY  FROM  ENACTING  A LOCAL LAW OR ORDINANCE WHICH ESTAB-
   20  LISHES MORE STRINGENT STANDARDS THAN THOSE ESTABLISHED BY THIS  SECTION.
   21  EVERY  DEALER  SHALL COMPLY WITH ALL LOCAL LAWS AND ORDINANCES GOVERNING
   22  SUCH DEALERS AND THE PROVISIONS OF THIS SECTION SHALL  BE  ENFORCED  AND
   23  VIOLATIONS THEREOF ADJUDICATED BY THE CITY, TOWN OR VILLAGE IN WHICH THE
   24  DEALER CONDUCTS BUSINESS.
   25    S  2.  This  act  shall take effect on the sixtieth day after it shall
   26  have become a law.