16-715. Report of property pledged or purchased; required holding period for precious metal purchased; report not open to public inspection.
16-715
16-715. Report of property pledged or purchased; required holding period
for precious metal purchased; report not open to public inspection.
(a) On or before Tuesday of each week, or at more frequent intervals if
required by city ordinance or county resolution, every pawnbroker or precious
metal dealer shall report the description of all property received
in pledge or purchased as a pawnbroker or precious metal dealer during the
preceding calendar week, in whatever quantity received. Such report shall
include all property purchased
as secondhand merchandise at
wholesale, secondhand merchandise taken in for sale or possessed on
consignment for sale and secondhand merchandise taken in trade. No such
report need be made concerning property or merchandise acquired from another
pawnbroker or precious metal dealer
licensed in this state in a transaction involving the purchase or other
acquisition from the other pawnbroker or precious metal dealer of the other
pawnbroker's or dealer's stock in trade, or a substantial part thereof in
bulk, where the other pawnbroker has made the reports
required by this section with respect to such property or merchandise.
(b) If a transaction required to be reported under this section takes
place within the territorial limits of a city of the first or second class,
the report shall be
submitted to the chief of police of the city. If the transaction
takes place outside the territorial limits of any such city, the report
shall be submitted to the sheriff of the county in which the transaction takes place.
(c) All reports made pursuant to this section shall comply with and be
submitted in accordance with the terms of any applicable city ordinances
or county resolutions requiring such reporting.
(d) Every precious metal dealer shall retain in the dealer's possession
for a period of 10 days all precious metal purchased as a precious metal
dealer, and such
metal shall remain in the condition in which it was purchased. The ten-day
period shall commence on the date that the appropriate police chief or sheriff
receives the report of its acquisition in compliance with this section.
If the police chief or sheriff has probable cause to believe that any precious
metal reported by a dealer has been stolen, the police chief or sheriff
may give written notice to the dealer to retain such metal for an additional
period of 15 days. Upon such notice, the dealer shall retain such metal
in an unaltered condition for the additional fifteen-day period unless the
police chief or sheriff notifies the dealer in writing that the waiting
period is terminated at an earlier time.
(e) Reports made pursuant to this section shall be available for inspection
only by law enforcement officers and county and district attorneys and their
employees, for law enforcement purposes.
History: L. 1972, ch. 51, § 10; L. 1981, ch. 91, § 5; July 1.