§ 17-23-201. Registration required
(a) A person shall not engage in the business of purchasing precious metals or precious items from the general public for the purpose of reselling the precious metals or precious items in any condition without first registering with the local law enforcement agency in the jurisdiction as provided under this section and in the manner […]
§ 17-23-202. Registration
(a) (1) A dealer shall register with local law enforcement in writing and on the form prescribed by the local law enforcement agency at least twenty-four (24) hours before conducting business in that jurisdiction. (2) The registration shall include: (A) (i) The name of the registrant. (ii) If the registrant is a partnership or association, […]
§ 17-23-203. Seller identification
(a) A dealer required to register under this chapter shall require the following from each seller of precious metals or precious items: (1) Proof of identification in the form of a valid driver’s license, identification card, armed services identification card, or other valid photo identification; (2) A signed statement stating that the seller is the […]
§ 17-23-204. Melt-down bullion
When a proposed transaction involves the buying of precious metal bulk bullion which appears to have been the result of a melt-down of a former article containing a precious metal, the buyer must first inquire as to what was the source of the item before the melt-down and must notify the Department of Arkansas State […]
§ 17-23-205. Disclosures
Every person required to be licensed under this chapter shall inform the prospective seller of the price per ounce currently being paid for the particular precious metal offered by the prospective seller, and the precious metals shall be weighed in full sight of the prospective seller.
§ 17-23-206. Records
(a) Every person registered under this chapter shall keep a record book containing a comprehensive record of all transactions concerning precious metals or precious items. (b) The record shall include: (1) The name, address, and telephone number of the seller; (2) The date of birth of the seller; (3) The signature of the seller; (4) […]
§ 17-23-207. Holding periods
(a) All persons registered under this chapter shall retain possession of precious metals or precious items in an unaltered condition for fifteen (15) business days after delivering the list to the chief law enforcement officer of the city or town or sheriff of the county as required under § 17-23-206. (b) If the chief law […]