LD 1715
pg. 2
Page 1 of 4 An Act To Facilitate the Recovery of Stolen Property Page 3 of 4
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LR 2430
Item 1

 
C.__The transaction does not create a security interest that
secures an obligation; and

 
D.__Title to the goods does not pass until the sale.

 
2.__Consignment merchant.__"Consignment merchant" means a
merchant who receives tangible personal property for sale on
consignment.

 
3.__Junk.__"Junk" means old iron, chains, brass, copper, tin,
lead or other base metals, old rope, old bags, rags, wastepaper,
paper clippings, scraps of woolens, clips, bagging, rubber and
glass and empty bottles of different kinds when less than one
gross and all articles discarded or no longer used or a
manufactured article composed of any one or more of the materials
mentioned in this subsection.

 
4.__Junk collector.__"Junk collector" means anyone dealing or
trading in junk or anyone who engages in the collection, storage,
transfer or sale of junk.

 
5.__Merchant.__"Merchant" means a person who deals in tangible
personal property or otherwise by that person's occupation holds
that person out as having knowledge or skill peculiar to the
practices or goods involved in a transaction of tangible personal
property or to whom such knowledge or skill may be attributed by
that person's employment of an agent or broker or other
intermediary who by that agent's, broker's or other
intermediary's occupation holds that person out as having such
knowledge or skill.

 
6.__Secondhand dealer.__"Secondhand dealer" means a person who
engages in the purchase, collection, transfer or storage for
later resale, or who engages in the trading or selling, unless
such sale is by auction of less than 4 days' duration, of any
article, vehicle or material, or a portion thereof, of which
prior use has been made in any manner whatsoever. "Secondhand
dealer" does not include pawnbrokers, junk collectors, used car
dealers or persons primarily engaged in the retail sale of new
and unused goods who deal with used goods only incidentally, such
as accepting such goods in trade as part of a transaction
involving the sale of new goods, but only to the extent that such
used goods are of the same type as the new goods.

 
7. Tangible personal property. "Tangible personal property"
includes motor vehicles, but does not include documents
evidencing title to motor vehicles. "Tangible personal property"
also does not include checks, drafts or similar instruments or
real estate.


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