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Gold, silver, precious metals, regulated property and/or restricted metals purchased by a secondhand dealer, shall not be sold, modified, altered or destroyed for a period of 12 calendar days after the date of purchase. The property purchased must be kept in its original form, not commingled, along with a copy of the transaction record, as set forth in § 123.22, on the premises of the business location during the holding period for purposes of inspection, if necessary, as provided by this subchapter. This section shall not apply to ferrous or nonferrous metals that are intended for scrap or recycling and are not defined as restricted metals.
(Lou. Metro Ord. No. 192-2007, approved 10-1-2007, effective 1-29-2008; Lou. Metro Am. Ord. No. 27-2012, approved 2-10-2012; Lou. Metro Am. Ord. No. 132-2012, approved 8-1-2012; Lou. Metro Am. Ord. No. 198-2015, approved 11-24-2015, effective 1-23-2016; Lou. Metro Am. Ord. No. 138-2019, approved 9-24-2019; Lou. Metro Am. Ord. No. 69-2021, approved 5-27-2021) Penalty, see § 115.999