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2011 SESSION

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HB 1528 Precious metals dealers; required to prepare daily reports.

Introduced by: Richard P. Bell | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Precious metals dealers; daily reports.  Requires every dealer to prepare a daily report containing certain information and to file such report by noon of the following day with the chief of police or other law-enforcement officer of the county, city or town where his business is conducted designated by the local attorney for the Commonwealth to receive it. The bill allows a dealer to compile and maintain the daily report in an electronic format and, if so maintained, to file the required daily report electronically with the appropriate law-enforcement officer through use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer. Any local governing body may, by ordinance, require a dealer to maintain and file a daily report electronically through the use of a disk, electronic transmission, or any other electronic means of reporting approved by the law-enforcement officer. The bill allows a dealer to charge a service fee per transaction for making the daily electronic reports to the appropriate law-enforcement officers and for creating and maintaining the electronic records. Such fee shall not exceed five percent of the amount paid by the dealer for an item or $3, whichever is less. The bill requires the Superintendent of State Police to adopt regulations for the uniform reporting of information required by this section. The bill also contains technical amendments.


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