Every new and unused property merchant shall maintain receipts for the acquisition of new and unused property which must contain all of the following information:
The date of the transaction on which the property was acquired;
The name and address of the person, corporation, or entity from whom the property was acquired;
An identification and description of the property acquired;
The price paid for such property; and
The signatures of the person selling the property and the new and unused property merchant only if the new and unused property merchant acquires the property vis-á-vis the person selling the property if such person is not regularly engaged in the normal course of business of selling such property.
If a new and unused property merchant makes a single purchase of five hundred dollars ($500) or more from an individual or corporation, the bill of sale from such purchase shall be sufficient to satisfy the recordkeeping requirements of this subsection (a).
