LD 71
Session - 126th Maine Legislature
H "A" to C "A", Filing Number H-551, Sponsored by Fowle
LR 240
Item 4
Bill Tracking, Additional Documents Chamber Status

Amend the amendment in section 1 in §3972 by striking out all of subsection 3 and inserting the following:

3 Retention and maintenance of records.   The records required under subsection 2 must be kept for a period of one year and maintained in order by date of purchase.

Amend the amendment in section 1 in §3972 in subsection 5 in the last line (page 2, line 23 in amendment) by striking out the following: " 10" and inserting the following: ' 5 business'

Amend the amendment in section 1 in §3972 by inserting after subsection 6 the following:

7 Exemption.   This section does not apply to an auctioneer licensed under Title 32, chapter 5-B.

Amend the amendment in section 1 in §3972 by renumbering the subsections to read consecutively.


This amendment makes the following changes to Committee Amendment "A."

1. It removes the requirement that records kept by dealers in secondhand precious metals be contained either in a bound volume or ledger or in a binder in which pages can be affixed.

2. It reduces from 10 days to 5 business days the period of time a dealer in secondhand precious metals must wait before selling or altering precious metals that are not listed in an electronic database designed to catalog stolen property.

3. It exempts auctioneers from the provisions governing dealers in secondhand precious metals.

Top of Page