Oklahoma § 59-1530

§ 59-1530.

Records.

A. Every dealer shall keep a record of any transaction

with any person involving the purchasing of any used

item made, or containing in whole or in part, any precious

metal or gem. The following information shall be

recorded for precious metals or gems:

1. An account and detailed description or photograph of the

item purchased, including, if applicable, the manufacturer's name,

the model, the model number, the serial number and any engraved

marking;

Oklahoma Statutes - Title 59. Professions and Occupations

2. The amount of money involved in the transaction;

3. The date;

4. The name, address and driver license number of the person

involved in the transaction with the dealer; if the person has no

driver license, then the date of birth and general physical

description, including hair color and approximate height and weight

of that person; and

5. The signature of the seller.

For purposes of describing the item or items in the transaction

pursuant to paragraph 1 of this subsection, it shall be a violation

for the dealer to state only the number of grams and type of

precious metal or type of gem as a description. The description

shall clearly and accurately describe each item containing any

precious metals or gems presented to the dealer for purposes of the

transaction.

B. The record required by this section shall be kept for a

period of four (4) years. Such record shall be made available

during regular business hours for inspection by the Department of

Consumer Credit and any law enforcement officer authorized by a law

enforcement agency to inspect such record.

C. No dealer shall be required to furnish the description of

any new property purchased from manufacturers or wholesale dealers

at an established place of business or of any goods purchased from

any bankrupt stock. Such goods shall be accompanied by a bill of

sale or other evidence of open and legitimate purchase. The bill of

sale shall also be available for inspection during regular business

hours.

D. No dealer shall be required to furnish a description of

property purchased from another licensed dealer or to meet the

holding period provided for in Section 1531 of this title if that

dealer has met the requirements provided for in subsection A of this

section and Section 1531 of this title upon the initial purchase of

the property; provided, that each shall record the license number of

the other dealer and the amount of the transaction.

Added by Laws 1981, c. 213, § 10, operative July 1, 1981. Amended

by Laws 2013, c. 153, § 3, eff. Nov. 1, 2013; Laws 2015, c. 322, §

1, eff. Nov. 1, 2015.