It shall be the duty of each precious metals dealer to retain each and every item containing a precious metal purchased second hand by him or her in the same state or condition in which it was received, at the place of business where purchased, for a period of not less than 15 complete working days, which time period shall begin to run on the first working day following transfer of the duplicate record of the transaction to the Police Department. During such 15 days of retention period the article may not be resold, exchanged, altered, or otherwise disposed of.
Penalty, see § 112.99