South Carolina § 40-54-10 - Definitions.
Full text of South Carolina South Carolina Code of Laws § 40-54-10 — Definitions., with citation guidance and answers to common questions.
§ 40-54-10. Definitions.
As used in this chapter:
(1) "Dealer" means any person, corporation, or partnership who buys precious metal or precious or semiprecious stones or gems from the general public, whether in bulk or in manufactured form, with an intent to obtain a monetary profit for himself or for a principal.
(2) "Precious metal" means any article made in whole or in part of gold, silver, or platinum.
(3) "Precious or semiprecious stone or gem" means any stone or gem that is rare or costly or any stone or gem that is of lower value than those classified as precious.
(4) "Local law enforcement agency" means the chief of police for businesses located within the corporate limits of a municipality and the county law enforcement agency for businesses located outside the corporate limits of a municipality.
(5) "Permanent place of business" means a fixed premises either owned by the dealer or leased by him. One year's lease is a presumption of permanency.
(6) "Places proposed to do business" means the counties or municipalities in which the dealer intends to purchase precious metals or precious or semiprecious stones or gems or both precious metals and precious or semiprecious stones or gems.
(7) "Purchase" means the acquisition, including by means of being pawned to a dealer, of precious metal or precious or semiprecious stones or gems or both precious metal and precious or semiprecious stones or gems for a consideration of cash, goods, or other precious metals or precious or semiprecious stones or gems or both precious metals and precious or semiprecious stones or gems. Trade-ins are covered by the provisions of this chapter unless the item traded was purchased directly from the dealer allowing the trade.
HISTORY: 1981 Act No. 147 SECTION 1; 1988 Act No. 413, SECTION 1; 2014 Act No. 292 (H.3149), SECTION 1, eff June 23, 2014.
Effect of Amendment
2014 Act No. 292, SECTION 1, in paragraph (7), inserted ", including by means of being pawned to a dealer,".
Frequently Asked Questions About South Carolina § 40-54-10
What does South Carolina Code of Laws § 40-54-10 cover?
Section 40-54-10 ("Definitions.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 40-54-10?
A common citation format is "South Carolina Code of Laws § 40-54-10" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 40-54-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.