HP0507, LD 686, item 1, An Act To Ease Record-keeping Requirements for Auctioneers

An Act To Ease Record-keeping Requirements for Auctioneers

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 30-A MRSA §3971, sub-§§1 and 2, as enacted by PL 2003, c. 582, §2, are amended to read:

1. Records required. Every dealer in used personal property shall record the following information before completing the purchase of any used personal property:

A. The date of the purchase;

B. The seller's name and address; and

C. A brief description of the property, including any identification numbers.

Notwithstanding paragraph C, an auctioneer licensed under Title 32, chapter 5-B is not required to record the serial numbers of paper money being auctioned.

Before recording the information required by this subsection, a dealer shall require reasonable written proof of the seller's identification in the form of a motor vehicle operator's license, military identification card, adult liquor identification card or similar item.

2. Form of records. The records required under subsection 1 must be kept for the purpose of complying with this section, maintained in order by date of purchase and contained either in a bound volume or ledger or in a binder in which pages can be affixed. An auctioneer licensed under Title 32, chapter 5-B may keep the records required under subsection 1 in electronic form.

summary

This bill provides that an auctioneer is not required to record the serial numbers on paper money that is subject to purchase. It retains the provision in current law that an auctioneer record a brief description of property the auctioneer purchases. It also allows an auctioneer to keep certain records regarding the purchase of used personal property in electronic form.

HP0507 LD 686	Session - 129th Maine Legislature		LR 1226 Item 1
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