Indiana § 24-4-19-15 - Books, accounts, and records

§ 24-4-19-15. Books, accounts, and records

Sec. 15. (a) A precious metal dealer shall keep and use in the precious metal dealer's business the books, accounts, and records necessary to determine whether the precious metal dealer is complying with this chapter.

(b) A precious metal dealer shall preserve the books, accounts, and records, including cards used in the card system, for at least two (2) years after making the final entry on any purchase recorded.

(c) The precious metal dealer shall keep the books and records so that the business of purchasing precious metal for resale may be readily separated and distinguished from any other business in which the precious metal dealer is engaged.

(d) If a precious metal dealer, in the conduct of the business, purchases precious metal from a seller, the purchase shall be evidenced by a bill of sale properly signed by the seller verifying the accuracy of the information in the bill of sale. All bills of sale must be in duplicate and must list the following separate items:

(1) The date of sale.

(2) The:

(A) name;

(B) address;

(C) date of birth; and

(D) driver's license number or Social Security number;

of the seller from whom the precious metal was purchased.

(3) The amount of consideration paid for the precious metal.

(4) The:

(A) name of the precious metal dealer; and

(B) address of the permanent place of business where the purchase occurred.

(5) A description of each article of precious metal sold. However, if multiple articles of precious metal of a similar nature are delivered together in one (1) transaction, the description of the articles is adequate if the description contains the quantity of the articles delivered and a physical description of the type of articles delivered, including any unique identifying marks, numbers, names, letters, or special features.

(6) The type of government issued photographic identification used to verify the identity of the seller under section 14 of this chapter, together with the name of the governmental agency that issued the photographic identification and the identification number present on the government issued photographic identification.

(e) If a precious metal dealer purchases precious metal, the precious metal dealer shall retain as part of the books, accounts, and records kept by the precious metal dealer under this section:

(1) the original copy of the bill of sale described in subsection (d); and

(2) the:

(A) copy of the seller's government issued photographic identification; and

(B) photograph of the precious metal;

obtained by the precious metal dealer as required under section 14 of this chapter.

The second copy of the bill of sale shall be delivered to the seller by the precious metal dealer at the time of sale.

(f) The heading on all bill of sale forms must be in boldface type.

As added by P.L.222-2013, SEC.3.