- A. Every dealer must keep at the business location designated in the license application, all used articles made, in whole or in part, of precious metals or gems, for inspection by any law enforcement officer at reasonable times for a period of ten (10) days or until the articles have been released by written authorization of any law enforcement officer authorized by the law enforcement agency or its designee, except as provided for in subsection C of Section 5 of this act. During this period, the appearance of such articles shall not be altered in any way. A dealer is not prohibited from selling or arranging to sell such articles during the ten-day period as long as such articles remain in his possession as required by this section.
- B. A dealer may also designate an additional location for storage of items required to be held under the provisions of this act. This location shall be either a vault or a bank. The address of the designated additional location shall be filed with the Administrator. The Administrator shall release the designated location only to law enforcement agencies. The designated additional location shall be available for inspection by any law enforcement officer of this state authorized by the law enforcement agency to inspect the same.
Laws 1981, HB 1305, c. 213, § 11, emerg. eff. July 1, 1981.