House Co-Sponsorship Memoranda

House of Representatives
Session of 2013 - 2014 Regular Session

Posted:	January 25, 2013 09:02 AM
From:	Representative Scott Conklin
To:	All House members
Subject:	Amending the Precious Metal Sale Regulation Law (Former House Bill 1773 )

In an effort to protect consumers, I will be introducing legislation that will amend the Precious Metal Sale Regulation Law to require that all transactions of precious metals occur within a permanent place of business owned, leased, or rented by a licensed precious metal dealer in Pennsylvania. Currently unlicensed dealers conduct business in hotel rooms, parking lots and other unregulated and insecure areas. Commonly these unlicensed dealers undervalue these precious items Pennsylvanians seek to trade or sell and constituents are duped into unfair transactions through the convenience provided by these informal settings. Additionally, my legislation would require any applicant for a precious metal license to provide proof of a permanent place of business that is either owned, rented or leased for a minimum of 12 months at market price for the purpose of engaging in the precious metal business. This legislation will bolster the existing system of licensure and regulation of Pennsylvania precious metal dealers, many if not all of whom already maintain such permanent business locations. Further, it will limit the ability of unlicensed out-of-state precious metal dealers to engage in precious metal transactions in Pennsylvania. I invite your co-sponsorship of this important legislation. Previous Co-Sponsors: EVERETT, CALTAGIRONE, COHEN, DeLUCA, FABRIZIO, FARRY, HARKINS, MIRABITO, MURT, SWANGER, WHITE AND YOUNGBLOOD
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Introduced as HB767