Amending Chapter 4 Require Licensing of Precious Metals Dealers

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other than the point of sale, the location of these goods and the holder's identification must be filed with the Police Chief within twenty -four (24) hours from the time of purchase. All goods required to be held under this section shall be available at all times for inspection by the Police Chief or person duly authorized by him to inspect the goods. (f) Coin Purchase. Any purchase of coins made up in part of gold or silver where the total purchase exceeds Fifty ($50.00) Dollars shall comply with subsections (c)(2) and (4). (g) Exemptions. The provisions of this section shall not apply to wholesale precious metal purchases or to transactions between dealers of precious metals where the selling dealer has already complied with the terms of this section, including subsection (e). (h) Penalty. Any violation of the provisions of this section shall be deemed an offense, and upon conviction, the offender shall be fined not less than One Hundred ($100.00) Dollars nor more than Two Thousand Five Hundred ($2,500.00) Dollars. Each violation shall constitute a separate offense and be punishable as such. SECTION III. This Ordinance shall be in full force and effect from and after its passage by the Common Council, approval by the Mayor and publication as provided by law. e Member of th6 Xommon Council 1,t READING 1-1 1—J'Z- PUBLIC HEARING 2nd READING NOT APPROVED REFERRED PASSED FILED IN CLERK'S OFFICE JAN 6:982 Irene Gam=n CITY CLERK, SOUTH SEND, iND.