House Bill #5690 (2019)

AN ACT RELATING TO COMMERCIAL LAW - GENERAL REGULATORY PROVISIONS - PURCHASE AND SALE OF PRECIOUS METALS

Requires a licensed buyer of precious metals or articles, tools, and electronics to take a digital photograph of purchase and upload it to the attorney general's license sales tracking system database, maintained for a period of 3 years.

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Changes since original draft

  • 2019 – H 5690
  • 2019 – H 5690 SUBSTITUTE A
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  • LC001938
  • LC001938/SUB A
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  • S TATE OF RHODE IS L AND
  • IN GENERAL ASSEMBLY
  • JANUARY SESSION, A.D. 2019
  • ____________
  • A N A C T
  • RELATING TO COMMERCIAL LAW - GENERAL REGULATORY PROVISIONS -
  • PURCHASE AND SALE OF PRECIOUS METALS
  • S T A T E O F R H O D E I S L A N D
  • IN GENERAL ASSEMBLY
  • JANUARY SESSION, A.D. 2019
  • ____________
  • A N A C T
  • RELATING TO COMMERCIAL LAW - GENERAL REGULATORY PROVISIONS -
  • PURCHASE AND SALE OF PRECIOUS METALS
  • Introduced By: Representatives Noret, Caldwell, Canario, Amore, and Serodio
  • Date Introduced: February 27, 2019
  • Referred To: House Corporations
  • It is enacted by the GeneralAssembly as follows:
  • SECTION 1. Section 6-11.1-3 of the General Laws in Chapter 6-11.1 entitled "Purchase and Sale of Precious Metals"is hereby amended to read as follows:
  • It is enacted by the General Assembly as follows:
  • SECTION 1. Section 6-11.1-3 of the General Laws in Chapter 6-11.1 entitled "Purchase and Sale of Precious Metals" is hereby amended to read as follows:
  • 6-11.1-3. Identification and authority of seller – Posting of prices – Weighing.
  • (a) Every person required to be licensed under this chapter shallrequire positive proof of identification with photograph, date of birth, and current address of every seller from whom precious metals or an article made from or containing a precious metal is to be purchased and shall require the seller to sign a statement on a form to be approved by the attorney generalstating that the seller is the legal owner of the property or is the agent of the owner authorized to sellthe property and when and where or in what manner the property was obtained. Provided further, that the licensed buyer of precious metals under this chapter, shallbe required to take a clear and true color digital photograph, accurately depicting all purchased precious metals or articles. The digital photograph(s) shall be uploaded to the attorney general's license sales tracking system (LSTS) database where the photograph(s) of the purchased precious metal(s) or article(s) shallbe maintained for a period of three (3) years from the date of purchase.
  • (b) Every person required to be licensed under this chapter shall, before purchasing any precious metal or article made from or containing a precious metal, shall require the seller, if a minor, to be accompanied by the parent or legalguardian of the minor.
  • (c) Every person required to be licensed under this chapter shallpost the prices per ounce that are currently being paid for precious metals in full sight of the prospective seller and the precious metals shall be weighed in full sight of the prospective seller.
  • SECTION 2. Section 6-53-3 of the GeneralLaws in Chapter 6-53 entitled "Purchase and Sale of Tools and Electronics" is hereby amended to read as follows:
  • (a) Every person required to be licensed under this chapter shall require positive proof of identification with photograph, date of birth, and current address of every seller from whom precious metals or an article made from or containing a precious metal is to be purchased and shall require the seller to sign a statement on a form to be approved by the attorney general stating that the seller is the legal owner of the property or is the agent of the owner authorized to sell the property and when and where or in what manner the property was obtained. Provided further, that, with the exception of the purchase of any article containing a catalytic converter as defined in § 6-11.1-1, the licensed buyer of precious metals under this chapter, shall be required to take a clear and true color digital photograph, accurately depicting all purchased precious metals or articles. The digital photograph(s) shall be uploaded to the attorney general's license sales tracking system (LSTS) database where the photograph(s) of the purchased precious metal(s) or article(s) shall be maintained for a period of three (3) years from the date of purchase.
  • (b) Every person required to be licensed under this chapter shall, before purchasing any precious metal or article made from or containing a precious metal, shall require the seller, if a minor, to be accompanied by the parent or legal guardian of the minor.
  • (c) Every person required to be licensed under this chapter shall post the prices per ounce that are currently being paid for precious metals in full sight of the prospective seller and the precious metals shall be weighed in full sight of the prospective seller.
  • SECTION 2. Section 6-53-3 of the General Laws in Chapter 6-53 entitled "Purchase and Sale of Tools and Electronics" is hereby amended to read as follows:
  • 6-53-3. Identification and authority of seller.
  • (a) Every person required to be licensed under this chapter shallrequire positive proof of identification with photograph, date of birth, and current address of every seller from whom tools and electronics are to be purchased and shallrequire the seller to sign a statement, on a form to be approved by the attorney general, stating that the seller is the legalowner of the property or is the agent of the owner authorized to sell the property and when and where or in what manner the property was obtained. Provided further, that the licensed buyer of tools and electronics under this chapter, shall be required to take a clear and true color digitalphotograph, accurately depicting all purchased tools and electronics. The digital photograph(s) shall be uploaded to the attorney general's license sales tracking system(LSTS) database where the photograph(s) of the purchased tools and electronics shall be maintained for a period of three (3) years from the date of purchase.
  • (a) Every person required to be licensed under this chapter shall require positive proof of identification with photograph, date of birth, and current address of every seller from whom tools and electronics are to be purchased and shall require the seller to sign a statement, on a form to be approved by the attorney general, stating that the seller is the legal owner of the property or is the agent of the owner authorized to sell the property and when and where or in what manner the property was obtained. Provided further, that the licensed buyer of tools and electronics under this chapter, shall be required to take a clear and true color digital photograph, accurately depicting all purchased tools and electronics. The digital photograph(s) shall be uploaded to the attorney general's license sales tracking system (LSTS) database where the photograph(s) of the purchased tools and electronics shall be maintained for a period of three (3) years from the date of purchase.
  • (b) Every person required to be licensed under this chapter shall, before purchasing any tool or electronic device, require the seller, if a minor, to be accompanied by the parent or legal guardian of the minor.
  • SECTION 3. This act shalltake effect upon passage.
  • SECTION 3. This act shall take effect on January 1, 2020.
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  • LC001938
  • LC001938/SUB A
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  • LC001938 - Page 2of 3
  • EXPLANATION
  • BY THE LEGISLATIVE COUNCIL
  • OF
  • A N A C T
  • RELATING TO COMMERCIAL LAW - GENERAL REGULATORY PROVISIONS -
  • PURCHASE AND SALE OF PRECIOUS METALS
  • ***
  • This act would require a licensed buyer of precious metals or articles, tools, and electronics to take a digital photograph of their purchase and upload it to the attorney general's license sales tracking system database, where it will be maintained for a period of three (3) years from the date of purchase.
  • This act would take effect upon passage. ======== LC001938 ========
  • LC001938 - Page 3of 3
  • EXPLANATION
  • BY THE LEGISLATIVE COUNCIL
  • OF
  • A N A C T
  • RELATING TO COMMERCIAL LAW - GENERAL REGULATORY PROVISIONS -
  • PURCHASE AND SALE OF PRECIOUS METALS
  • ***
  • This act would require a licensed buyer of certain precious metals or articles, tools, and electronics to take a digital photograph of their purchase and upload it to the attorney general's license sales tracking system database, where it will be maintained for a period of three (3) years from the date of purchase.
  • This act would take effect on January 1, 2020. ======== LC001938/SUB A ========

Votes

NOTE: Electronic voting records are unofficial and may not be accurate. For an official vote tally, check the House or Senate Journal from the day of the vote.

Floor vote for PASSAGE

April 30, 2019 at 4:45pm
Yeas: 65 / Nays: 1 / Not voting: 2 / Recused: 0
Legislator Vote
Rep. Abney Y
Rep. Ackerman Y
Rep. Ajello Y
Rep. Almeida Y
Rep. Alzate Y
Rep. Amore Y
Rep. Azzinaro Y
Rep. Barros Y
Rep. Bennett Y
Rep. Blazejewski Y
Rep. Caldwell Y
Rep. Canario Y
Rep. Carson NV
Rep. Casey Y
Rep. Casimiro Y
Rep. Cassar Y
Rep. Chippendale Y
Rep. Cortvriend Y
Rep. Corvese Y
Rep. Costantino Y
Rep. Craven Y
Rep. Diaz Y
Rep. Donovan Y
Rep. Edwards Y
Rep. Fellela Y
Rep. Filippi Y
Rep. Fogarty Y
Rep. Handy Y
Rep. Hawkins Y
Rep. Hull Y
Rep. Jackson Y
Rep. Jacquard Y
Rep. Johnston Y
Rep. Kazarian Y
Rep. Kennedy Y
Rep. Kislak Y
Rep. Knight Y
Rep. Lima Y
Rep. Lombardi Y
Rep. Lyle Y
Rep. Maldonado Y
Rep. Marszalkowski Y
Rep. Mattiello Y
Rep. McEntee Y
Rep. McKiernan Y
Rep. McLaughlin Y
Rep. McNamara Y
Rep. Mendez Y
Rep. Messier Y
Rep. Millea Y
Rep. Morin Y
Rep. Nardone Y
Rep. Newberry Y
Rep. Noret Y
Rep. O'Brien Y
Rep. Phillips Y
Rep. Place Y
Rep. Price N
Rep. Quattrocchi Y
Rep. Ranglin-Vassell Y
Rep. Roberts Y
Rep. Ruggiero Y
Rep. Serodio Y
Rep. Serpa NV
Rep. Shanley Y
Rep. Shekarchi Y
Rep. Slater Y
Rep. Solomon Y