Amending Various Sections within Chapter 4 Requiring Electronic Reporting of Transactions by Precious Metals Dealers Regulated

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Electronic Reporting Ordinance Page 5 inked or digital fingerprint on the form. The inked or digital fingerprint shall be made in a manner readable by the Police Department and shall not be blurred or obliterated. (2) The dealer shall also record the seller's physical description and a description of the property purchased, as required by this section, and shall retain the physical secondhand sales report and information for three (3) years from the date of the last purchase recorded therein. The physical precious metal report and information can be stored, by the dealer, in either printed or digital form as long as a printed physical precious metal report is available to the police department upon request within the three (3) years from the date of the last purchase recorded therein. (3) Any records required to be kept or maintained under this section shall be available at all times for inspection by the Police Chief or person duly authorized by him or her to inspect the records. (f) Secondhand Purchased Items to be Held Before Resale by Dealer. All secondhand purchased items, purchased by a dealer, must be held for fifteen (15) days in the dealer's possession, before being resold, exchanged, or altered in any manner. All such secondhand purchased items must be held at the secondhand dealer's permanent place of business where the purchase occurred. if the i4ems purehased are held or ster-ed at a leeatien e4her than the dealer's premises lieensed under this seetion, the leeatien of these goods and the holder's identifieation mus! be filed w4h the Peliee Chief within twenty four- ?4) hours €erm the tithe of ll goods required to be held under this section shall be available at all times for inspection by the Police Chief or a person duly authorized by the Police Chief to inspect the goods.4 Section IV. If any section, subsection, sentence clause or phrase of this Article is for any reason declared to be unconstitutional or otherwise invalid by a Court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this ordinance. Section V. This ordinance shall be in full force and effect from and after its passage by the Common Council, approval by the Mayor, legal publicatio . r", Council Member Karen L. White Council Member at Large of the Common Council Council Member Tim Scott I" District Council Member of the Common Council John Voorde, City Clerk 4 Indiana Code § 24 -4 -14 sets forth the State of Indiana's regulations addressing "Used Jewelry Sales" which was updated by Public Law 222 -2013 effective January 1, 2014. Local regulations are supplemental to the state law provisions.