1Amending the act of February 24, 1984 (P.L.92, No.17), entitled
2"An act regulating the purchase and sale of precious metals,"
3further providing for records of transactions, for dealer's
4retention of precious metal and availability for inspection
5and for penalties.

6The General Assembly of the Commonwealth of Pennsylvania
7hereby enacts as follows:

8Section 1. Sections 3(a), 4(a) and 10 of the act of February
924, 1984 (P.L.92, No.17), referred to as the Precious Metal Sale
10Regulation Law, are amended to read:

11Section 3. Records of transactions.

12(a) Dealers to keep record.--Every dealer in precious metals
13shall keep a record of every transaction upon a form approved by
14the Attorney General. The record shall include as a minimum:

15(1) The name, age and address of the seller which must
16be verified by said dealer, requiring proof of identity from
17the seller sufficient to insure the accuracy of the
18represented name and address of the seller. The proof of 
19identity provided shall include a photograph.

1(2) An accurate description of the property purchased,
2including any serial number or other identifying marks or
3symbols and the date and hour of the transaction.

4* * *

5Section 4. Dealer's retention of precious metal and
6availability for inspection.

7(a) Precious metal to be retained for [five] 14 days.--Each
8item of precious metal purchased by a dealer in precious metals
9shall be retained in unaltered condition for [five full working]
1014 calendar days after report of its purchase has been filed
11with the proper district attorney or his designee.

12* * *

13Section 10. Penalty.

14(a) Unlicensed dealers.--The purchase of an item of precious
15metal by an unlicensed dealer in precious metals shall
16constitute a violation of this act and the dealer shall be
17guilty of a misdemeanor of the [third] first degree.

18(b) Licensed dealers.--Any licensed dealer in precious
19metals who violates any provisions of this act shall be guilty
20of a misdemeanor of the [third] first degree.

21(c) Revocation of license and ineligibility.--Any
22individual, partnership, association, corporation or business
23entity violating any provisions of this act shall, upon
24conviction, in addition to the penalties set forth in
25subsections (a) and (b) hereof, suffer immediately revocation of
26any existing license issued pursuant to the provisions of this
27act and shall be ineligible to apply for a dealer's license 
28under this act for a period of [five] ten years thereafter.

29Section 2. This act shall take effect in 60 days.