Guam § 74105 - Record for Commercial Accounts.

§ 74105. Record for Commercial Accounts.

(a) Every scrap metal business must create and maintain a

permanent record with a commercial enterprise, including another scrap

metal business, in order to establish a commercial account. That record,

at a minimum, must include the following information:

(1) the full name of the commercial enterprise or commercial

account;

(2) the business address and telephone number of the

commercial enterprise or commercial account; and

(3) the full name of the person employed by the commercial

enterprise who is authorized to deliver nonferrous metal property

and commercial metal property to the scrap metal business.

(b) The record maintained by a scrap metal business for a

commercial account must document every purchase or receipt of

nonferrous metal property and commercial metal property from the

commercial enterprise. The documentation must include, at a minimum,

the following information:

(1) the time, date, and value of the property being purchased

or received;

(2) a description of the predominant types of property being

purchased or received; and

COL292017

11 GCA FINANCE & TAXATION

(3) the signature of the person delivering the property to the

scrap metal business.