Bill Text: VA HB1528 | 2011 | Regular Session | Introduced

---

Bill Title: Precious metals dealers; required to prepare daily reports.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-02-08 - House: Left in General Laws [HB1528 Detail]

Download: Virginia-2011-HB1528-Introduced.html

---

11100156D
HOUSE BILL NO. 1528 Offered January 12, 2011 Prefiled December 22, 2010 A BILL to amend and reenact § 54.1-4101 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 54.1-4101.01, relating to precious metals dealers; daily reports. ---------- Patron-- Bell, Richard P. ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 54.1-4101 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding a section numbered 54.1-4101.01 as follows:

§ 54.1-4101. Records to be kept; copy furnished to local authorities.

A. Every dealer shall keep at his place of business an accurate and legible record of each purchase of precious metals or gems. The record of each purchase shall be retained by the dealer for at least twenty-four months and shall set forth the following:

1. A complete description of all precious metals or gems purchased from each seller. The description shall include all names, initials, serial numbers or other identifying marks or monograms on each item purchased, the true weight or carat of any gem, and the price paid for each item;

2. The date, time and place of receiving the items purchased;

3. The full name, residence address, work place, home and work telephone numbers, date of birth, sex, race, height, weight, hair and eye color, and other identifying marks of the seller;

4. Verification of the identification of the seller by the exhibition of a government-issued identification card such as a driver's license or military identification card. The record shall contain the type of identification exhibited, the issuing agency, and the number thereon; and

5. A statement of ownership from the seller.

B. The information required by subdivisions 1 through 3 of subsection A of this section shall appear on each bill of sale for all precious metals and gems purchased by a dealer, and a copy shall be mailed or delivered within twenty-four hours of the time of purchase to the chief law-enforcement officer of the locality in which the purchase was made.

§ 54.1-4101.01. Daily reports; fees.

A. Every dealer shall prepare a daily report containing the information required by § 54.1-4101 sold to him each day and shall file such report by noon of the following day with the chief of police or other law-enforcement officer of the county, city or town where his business is conducted designated by the local attorney for the Commonwealth to receive it. A dealer may compile and maintain the daily report in an electronic format and, if so maintained, shall file the required daily report electronically with the appropriate law-enforcement officer through use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer. Any local governing body may by ordinance require a dealer to maintain and file a daily report electronically through the use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer.

B. For each transaction, a dealer may charge a service fee for making the daily electronic reports to the appropriate law-enforcement officer required by this section and for creating and maintaining the electronic records. Such fee shall not exceed five percent of the amount paid by the dealer for such item or $3, whichever is less.

C. The Superintendent of State Police shall adopt regulations for the uniform reporting of information required by this section.