Title 6
Commercial Law — General Regulatory Provisions

Chapter 11.1
Purchase and Sale of Precious Metals

R.I. Gen. Laws § 6-11.1-4

§ 6-11.1-4. Record of transactions required — Reports to police.

(a) 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.

(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.

(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.

(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 secondhand articles.

(f) Any violation of these provisions shall be subject to the penalties set forth in § 6-11.1-7.

History of Section.
P.L. 1980, ch. 399, § 1; P.L. 1993, ch. 368, § 1; P.L. 1996, ch. 166, § 1; P.L. 1996, ch. 201, § 1; P.L. 2004, ch. 595, art. 26, § 1; P.L. 2008, ch. 349, § 1; P.L. 2013, ch. 502, § 1; P.L. 2013, ch. 507, § 1; P.L. 2014, ch. 528, § 8; P.L. 2022, ch. 382, § 1, effective June 30, 2022; P.L. 2022, ch. 383, § 1, effective June 30, 2022.