§ 38-85. Definitions.

Generally. For the purposes of this article, certain words and phrases shall have the meanings ascribed to them by this section.

(a)

Dealer. Any person, firm, partnership or corporation engaged at any location in the city in the business of purchasing or acquiring precious metals or gems or making loans for which precious metals or gems are received and held as security; provided, however, that retail merchants permanently located within the city shall be exempted insofar as they make purchases directly from manufacturers or wholesalers of precious metals or gems for their inventories. This definition includes merchants whose business is itinerant in nature as well as those whose business is permanently located in the city. As used herein "dealer" includes employers and principals on whose behalf the purchase or loan was made and all employers and agents who personally made such purchase and loans. When any act is required of a corporation, its president shall perform it.

The definition of "dealer" shall not include persons engaged in the following:

(1)

Purchases of precious metals or gems directly from other dealers, manufacturers, or wholesalers for retail or wholesale inventories, provided that the selling dealer has complied with the provisions of this chapter.

(2)

Purchases of precious metals or gems from a qualified fiduciary who is disposing of the assets of an estate being administered by the fiduciary.

(3)

Acceptance by a retail merchant of trade-in merchandise previously sold by the retail merchant to the person presenting that merchandise for trade-in.

(4)

Repairing, restoring or designing jewelry by a retail merchant, if such activities are within his normal course of business.

(5)

Purchases of precious metals or gems by industrial refiners and manufacturers, insofar as such purchases are made directly from retail merchants, wholesalers, dealers, or by mail originating outside the Commonwealth.

(6)

Persons regularly engaged in the business of purchasing and processing nonprecious scrap metals which incidentally may contain traces of precious metals recoverable as a byproduct.

(b)

Gems. Any item containing precious or semiprecious stones customarily used in jewelry.

(c)

Precious metals. Any item, except coins, containing as part of its composition in any degree gold, silver, platinum or platinum alloys.

(Ord. No. 30,898, § 1, 12-9-80; Ord. No. 31,370, § 1, 10-13-81; Ord. No. 39,740, § 1, 10-26-99)

(Ord. No. 30,898, § 1, 12-9-80; Ord. No. 31,370, § 1, 10-13-81; Ord. No. 39,740, § 1, 10-26-99)