Senate Bill S7032

2009-2010 Legislative Session

Requires the registration of mail-in second-hand precious metals dealers with the department of state, regulates the conduct of the business thereof

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Codes Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S7032 (ACTIVE) - Details

See Assembly Version of this Bill:
A10004
Current Committee:
Senate Codes
Law Section:
General Business Law
Laws Affected:
Add Art 12-C §§220 - 227, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2011-2012: S1097, A4123
2013-2014: S2632, A3645
2015-2016: S2637
2017-2018: S2218
2019-2020: S4295
2021-2022: S4758
2023-2024: S5689

2009-S7032 (ACTIVE) - Summary

Requires the registration of mail-in second-hand precious metals dealers with the department of state; and regulates the conduct of the business thereof.

2009-S7032 (ACTIVE) - Sponsor Memo

2009-S7032 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7032

                            I N  S E N A T E

                              March 9, 2010
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Codes

AN ACT to amend  the  general  business  law,  in  relation  to  mail-in
  second-hand precious metals dealers

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general business law is amended by adding a new article
12-C to read as follows:
                               ARTICLE 12-C
                      MAIL-IN SECOND-HAND PRECIOUS
                             METALS DEALERS
SECTION 220. DEFINITIONS.
        221. APPLICATION OF ARTICLE.
        222. REGISTRATION, TRANSACTION AND RECORDKEEPING.
        223. TENDERING PAYMENT.
        224. INSPECTION OF RECORDS AND PREMISES.
        225. HOLDING PERIOD.
        226. PENALTIES.
        227. POWERS OF THE DEPARTMENT.
  S 220. DEFINITIONS. AS USED IN THIS ARTICLE:
  1. "DEPARTMENT" MEANS THE DEPARTMENT OF STATE.
  2. "JEWELRY" MEANS A PERSONAL ORNAMENT THAT CONTAINS A PRECIOUS  METAL
AND MAY CONTAIN A GEMSTONE OR GEMSTONES.
  3.  "MAIL-IN  SECOND-HAND  PRECIOUS METALS DEALER" MEANS ANY PERSON OR
ENTITY THAT:
  (A) CONDUCTS BUSINESS WITHIN THIS STATE,  THAT  CONTRACTS  WITH  OTHER
PERSONS  OR ENTITIES TO BUY PRECIOUS METALS OR JEWELRY THROUGH AN INTER-
NET WEBSITE, THE UNITED STATES MAIL OR TELEMARKETING; OR
  (B) CONDUCTS BUSINESS WITHIN THIS STATE, THAT REGULARLY ENGAGES IN THE
BUSINESS OF PURCHASING JEWELRY OR PRECIOUS  METALS  THROUGH  THE  UNITED
STATES MAIL OR INTERNET BASED TRANSACTIONS.
  4.  "PRECIOUS  METAL"  MEANS  ANY  ITEM CONTAINING ANY GOLD, SILVER OR
PLATINUM, OR ANY COMBINATION THEREOF.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15566-01-0
              

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