MCL - Act 95 of 1981
AN ACT to regulate the business of buying and receiving gold, silver, platinum, gems, jewelry, and other precious items; to provide powers to certain state and local officers and agencies with respect to such regulation; to provide for the registration of precious metal and gem dealers; to provide for civil damages; and to prescribe penalties.
History: 1981, Act 95, Eff. Sept. 11, 1981
| Document | Type | Description |
|---|---|---|
| Section 445.481 | Section | Short title. |
| Section 445.482 | Section | Definitions. |
| Section 445.483 | Section | Dealer; certificate of registration required; internet drop-off store exempt from registration; application; fee; disclosures; dealer, agent, or employee convicted of misdemeanor or felony; compliance with local ordinances; issuance and posting of certificate; notification of change in name or address. |
| Section 445.484 | Section | Permanent record of each transaction; forms; copies; information required; numbering; sending copy of record of transaction form to police agency or sheriff's department; inspection; confidentiality; retention period; size of form; definition. |
| Section 445.485 | Section | Retaining precious item for 9 calendar days; alteration. |
| Section 445.486 | Section | Prohibited conduct. |
| Section 445.487 | Section | Failure to make entry in records as misdemeanor or felony; penalty. |
| Section 445.488 | Section | Violation of MCL 445.483(7) or (8) or 445.484(1)(e), (3), (4), or (5) as misdemeanor or felony; penalty. |
| Section 445.489 | Section | Conduct constituting felony; penalty. |
| Section 445.490 | Section | Violation of MCL 445.483(1) or 445.485 as felony; penalty. |
| Section 445.491 | Section | Action against dealer; grounds; damages, costs, and attorneys' fees. |
| Section 445.492 | Section | Effective date. |