16-720. Transactions in precious metals, requirements; refusal to redeliver stolen property to owner, effect.
16-720
16-720. Transactions in precious metals, requirements; refusal to redeliver
stolen property to owner, effect.
(a) A precious metal dealer shall require of every person from whom the
dealer purchases precious metal for resale:
(1) Proof of identification; and
(2) a signed statement saying that the seller is the legal owner of the
precious metal or is an agent of the legal owner who is authorized to sell
such metal and stating when, where and in what manner such metal was acquired
by the seller.
(b) When converted or stolen property has been pawned or sold to a precious
metal dealer and the pawnbroker or dealer
refuses to redeliver such property to the rightful owner upon demand and
presentation of a bill of sale or other proper evidence
of ownership by
the owner, and legal action by the rightful owner to recover the
property becomes necessary, the court may assess the pawnbroker or dealer for
reasonable attorneys' fees incurred by the rightful owner if the court
finds that the pawnbroker or dealer wrongfully withheld the converted or stolen
property.
History: L. 1972, ch. 51, § 15; L. 1981, ch. 91, § 9; July 1.