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2012 SESSION

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12100642D
HOUSE BILL NO. 1020 Offered January 11, 2012 Prefiled January 11, 2012 A BILL to amend and reenact § 54.1-4104 of the Code of Virginia, relating to precious metal dealers; retention of purchases. ---------- Patrons-- Spruill, Cosgrove and Dance ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 54.1-4104 of the Code of Virginia is amended and reenacted as follows:

§ 54.1-4104. Dealer to retain purchases.

A. The dealer shall retain all precious metals or gems purchased for a minimum of ten 30 calendar days from the date on which a copy of the bill of sale is received by the chief law-enforcement officer of the locality in which the purchase is made. Until the expiration of this period, the dealer shall not sell, alter, or dispose of a purchased item in whole or in part, or remove it from the county, city, or town in which the purchase was made.

B. If a dealer performs the service of removing precious metals or gems, he shall retain the metals or gems removed and the article from which the removal was made for a period of ten 30 calendar days after receiving such article and precious metals or gems.