Chapter 383
2022 -- S 2906 SUBSTITUTE A
Enacted 06/30/2022

A N   A C T
RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- PURCHASE AND SALE OF PRECIOUS METALS -- CATALYTIC CONVERTERS

Introduced By: Senators Goodwin, and McCaffrey

Date Introduced: April 26, 2022

It is enacted by the General Assembly as follows:
     SECTION 1. Section 6-11.1-4 of the General Laws in Chapter 6-11.1 entitled "Purchase
and Sale of Precious Metals" is hereby amended to read as follows:
     6-11.1-4. Record of transactions required -- Reports to police.
     (a) Every Except as provided in subsection (e) of this section, every person licensed under
this chapter shall keep a copy of the report form obtained from or under the direction of the attorney
general, containing a comprehensive record of all transactions concerning precious metals
including catalytic converters. The comprehensive record shall be hand printed legibly or typed.
The record shall include the date and hour of the transaction; the name, address, telephone number
and date of birth of the seller, as well as a photocopy or digital image of a seller's photo
identification; the seller's signature,; and; a complete and accurate description of the property
purchased or sold including any serial numbers or other identifying marks or symbols; and the date
and hour of the transaction.
     (b) For any transacted catalytic converter, the record shall include either the vehicle
registration or the vehicle identification number for the vehicle from which it was removed and the
license plate number, state of issue, make, and model of the vehicle used to deliver the property to
the licensee.
     (b)(c) All persons licensed under this chapter shall deliver or mail weekly to the chief of
police of the city or town in which the business is located and electronically submit to the attorney
general, in a manner specified by the attorney general, all report forms from the preceding seven-
day (7) period.
     (c)(d) Every person licensed under this chapter shall retain a copy of the report form for a
period of one year from the date of the sale stated on the form. These records are to be made
available for inspection by any law enforcement agency requesting to review them. Licensees or
secondary metals recyclers are prohibited from releasing a supplier's information without their
consent, unless the disclosure is made in response to a request from a law enforcement agency.
     (e) The requirements set forth in subsection (b) of this section shall not apply to business-
to-business transactions. For purposes of this section, "business-to-business transactions" means a
purchase of precious metals from a person or entity that is in the business of generating precious
metals from its normal operation or is duly engaged in the business of purchasing, selling, bartering,
or dealing in automotive salvage, precious metals, or second hand secondhand articles.
     (f) Any violation of these provisions shall be subject to the penalties set forth in ยง 6-11.1-
7.
     SECTION 2. This act shall take effect upon passage.
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LC005740/SUB A/2
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