OLR Bill Analysis

sHB 6519

AN ACT CONCERNING PAWNBROKERS, PRECIOUS METAL AND STONE DEALERS AND THE RECOVERY OF STOLEN JEWELRY AND PRECIOUS METALS AND STONES.

SUMMARY:

This bill requires pawnbrokers to keep a photograph of any jewelry received for at least 60 days. It also requires precious metal and stone dealers to hold any goods purchased for at least 10 days before resale or transfer.

EFFECTIVE DATE: October 1, 2009

BACKGROUND

Pawnbrokers' Record-Keeping

By law, pawnbrokers must keep records of their purchases.  Local officials who license pawnbrokers (police chiefs in cities and the selectmen in other towns) must determine the appropriate system in which pawnbrokers must record their purchases. This record must describe the goods received; the name, address, and proof of identity of the person from whom they were received; and the time and date the goods were received. The identification must include a photograph, address, and, if available on the identification, an indentifying number (CGS § 21-41).

Precious Metal and Stone Dealers

A “precious metal and stone dealer” is anyone who is in the business of buying gold; silver; items plated with gold, silver, or platinum; watches; jewelry; precious stones; or coins. The law requires these dealers to be licensed by the chief of police, or if there is none, the first selectman of the municipality in which they do business. Licenses may be revoked for cause and licensing authorities may not issue them to anyone convicted of a felony. The licensing authority may require an applicant to submit to state and national criminal history records checks. Precious metal and stone dealers are not currently required to retain purchased goods for a specified period (CGS § 21-100).

COMMITTEE ACTION

General Law Committee

Joint Favorable Substitute