Idaho § 54-2704 - RECORD FOR COMMERCIAL ACCOUNTS

§ 54-2704. RECORD FOR COMMERCIAL ACCOUNTS

(1) 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 be retained for five (5) years and must include the following information:

(a) The full name of the commercial enterprise or commercial account;

(b) The business address and telephone number of the commercial enterprise or commercial account;

(c) The full name of the primary contact of the commercial enterprise or whoever is authorized to deliver nonferrous metal and stainless steel and commercial metal property to the scrap metal business; and

(d) The full name of the primary contact of the commercial enterprise who is authorized to permit a scrap metal business to take possession of nonferrous metal and stainless steel and commercial metal property at the business location of the commercial enterprise.

(2) The record maintained by a scrap metal business for a commercial account must document every purchase or receipt of nonferrous metal and stainless steel and commercial metal property made in the previous five (5) years from the commercial enterprise. The documentation must include, at a minimum, the following information:

(a) The time, date and value of the property being purchased or received;

(b) A description of the predominant types of property being purchased or received.

(3) Payment for nonferrous metal and stainless steel and/or commercial metal property purchased or received by the scrap metal business under a commercial account will be made by cash, credit cards, electronic funds transfer or check payable to the commercial enterprise.

[54-2704, added 2009, ch. 152, sec. 2, p. 443; am. 2014, ch. 321, sec. 3, p. 797.]