To amend sections 4728.01 to 4728.14, and 4728.99 and to enact sections 4728.061, 4728.16, 4728.17, and 4728.18 of the Revised Code to make changes to the licensing and records requirements, exemptions, penalties, and other provisions of the Precious Metal Dealers Law and to limit the amount precious metal dealers may charge the true owner of stolen property when restoring that property to the true owner.

Section 1. That sections 4728.01, 4728.02, 4728.03, 4728.04, 4728.05, 4728.06, 4728.07, 4728.08, 4728.09, 4728.10, 4728.11, 4728.12, 4728.13, 4728.14, and 4728.99 be amended and sections 4728.061, 4728.16, 4728.17, and 4728.18 of the Revised Code be enacted to read as follows:

Sec. 4728.01.  As used in this chapter:

(A) "Precious metals dealer" means a person who is engaged in the business of purchasing articles made of or containing gold, silver, platinum, or other precious metals or jewels of any description if, in any manner, including any form of advertisement, signage, electronic media, including electronic mail, or other solicitation of customers, the person holds himself, herself, or itself out to the public as willing to purchase such articles.

(B) "Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code.

(C) "Person" means any individual, firm, partnership, corporation, association, or other business entity. "Person" does not include a person, corporation, partnership, or other entity engaged in business that is exempted under section 4728.11 of the Revised Code.

(D) "Purchase" means the acquisition of precious metals, jewels, or jewelry of any description, or both, for a consideration of cash, goods, or other precious metals, jewels, or jewelry.

(E) "Local law enforcement agency" means any of the following:

(1) For a business located within the jurisdiction of a municipal corporation, the chief or head of the police department for that municipal corporation;

(2) For a business not located within the jurisdiction of a municipal corporation, the sheriff of the county in which the business is located.

Sec. 4728.02.  (A) Except as provided in division (B) of this section, no person shall act as a precious metals dealer or advertise in any form to the public of the person's willingness to purchase precious metals or jewels, without first having obtained a license from the division of financial institutions in the department of commerce.

(B) Notwithstanding any provision in this chapter to the contrary, a person holding a license as a pawnbroker pursuant to Chapter 4727. of the Revised Code may act as a precious metals dealer without being separately licensed pursuant to this chapter. Pawnbrokers are subject to all the requirements imposed upon the conduct of persons holding a regular precious metals dealer's license with respect to any articles that the pawnbroker purchases made of or containing gold, silver, platinum, or other precious metals or jewels of any description.

Sec. 4728.03.  (A) As used in this section, "experience and fitness in the capacity involved" means that the all of the following are fulfilled:

(1) The applicant for a precious metals dealer's license has had sufficient financial responsibility, reputation, and experience in the business of precious metals dealer, or a related business, to act as a precious metals dealer in compliance with this chapter.

(2) The applicant for a precious metals dealer's license and any stockholders, owners, managers, directors, officers, and employees of the applicant have submitted to a criminal records check in accordance with division (G) of this section.

(3) The applicant for a precious metals dealer's license has done either of the following:

(a) Owned or leased for at least one year a fixed premises in the state as a place of business;

(b) Signed a lease for a minimum period of one year for a fixed premises in the state to be used as a place of business.

(B)(1) The division superintendent of financial institutions in the department of commerce may grant a precious metals dealer's license to any person of good character, having experience and fitness in the capacity involved to engage in the business of a precious metals dealer, who demonstrates a net worth of at least ten one hundred thousand dollars and the ability to maintain that net worth during the licensure period. The superintendent of financial institutions shall compute the applicant's net worth according to generally accepted accounting principles.

(2) In place of the demonstration of net worth required by division (B)(1) of this section, an applicant may obtain a surety bond issued by a surety company authorized to do business in this state if all of the following conditions are met:

(a) A copy of the surety bond is filed with the division of financial institutions in the department of commerce;

(b) The bond is in favor of any person, and of the state for the benefit of any person, injured by any violation of this chapter;

(c) The bond is in the amount of not less than ten one hundred thousand dollars.

(3) Before granting a license under this division, the division superintendent shall determine that the applicant meets the requirements of division (B)(1) or (2) of this section.

(C)(1) The division superintendent shall require an applicant for a precious metals dealer's license to pay to the division a nonrefundable, initial investigation fee of two hundred dollars which shall be for the exclusive use of the state. The license fee for a precious metals dealer's license and the renewal fee shall be determined by the superintendent, provided that the fee may not exceed three hundred dollars. A

(2) A license issued by the division superintendent before January 1, 2012, shall expire on the last thirtieth day of June next following the date of its issuance. A license issued by the superintendent on or after January 1, 2012, shall expire on the thirtieth day of June in the even-numbered year next following the date of its issuance. Fifty per cent of license fees shall be for the use of the state, and fifty per cent shall be paid to the municipal corporation, or if outside the limits of any municipal corporation, to the county in which the office of the licensee is located. All portions of license fees payable to municipal corporations or counties that are paid before January 1, 2012, shall be paid as they accrue, by the treasurer of state, on vouchers issued by the director of budget and management. All portions of license fees payable to municipal corporations or counties that are paid on or after January 1, 2012, shall be paid biennially, by the treasurer of state, on vouchers issued by the director of budget and management.

(D) Every such (1) Until December 31, 2011, every license issued or renewed before January 1, 2012, shall be renewed annually by the last thirtieth day of June according to the standard renewal procedure of Chapter 4745. of the Revised Code. Every license issued or renewed on or after January 1, 2012, shall be renewed biennially by the thirtieth day of June in accordance with the standard renewal procedure of Chapter 4745. of the Revised Code.

(2) No license shall be granted to any person not a resident of or the principal office of which is not located in the municipal corporation or county designated in such license, unless, and until such applicant shall, in writing and in due form, to be first approved by and filed with the division, appoint an agent, a resident of the state, and city or county where the office is to be located, upon whom all judicial and other process, or legal notice, directed to the applicant may be served; and in case of the death, removal from the state, or any legal disability or any disqualification of any agent, service of process or notice may be made upon the superintendent.

(3) The superintendent shall not renew the license of a licensee who does not have a place of business as described in division (A)(3) of this section.

(4) The fee for renewal of a license shall be equivalent to the fee for an initial license established by the superintendent pursuant to section 1321.20 of the Revised Code. Any licensee who wants to renew a license, but fails to do so on or before the date the license expires, shall reapply for licensure in the same manner, and subject to the same requirements, as for initial licensure, unless the licensee pays the superintendent, on or before the thirty-first day of August of the year the license expires, a late renewal penalty of one hundred dollars in addition to the regular renewal fee.

(5) Any licensee who fails to renew a license on or before the date the license expires, including a person who renews a license between the first day of July and the thirty-first day of August of the year the license expires, is prohibited from acting as a precious metals dealer until the license is renewed or a new license is issued under this section.

(6) The superintendent may refuse to issue or renew the license of any person who violates division (D) of this section.

(E) The division may, pursuant to Chapter 119. of the Revised Code, upon notice to the licensee and after giving the licensee reasonable opportunity to be heard, revoke or suspend any license, if the licensee or the licensee's officers, agents, or employees violate this chapter. Whenever, for any cause, the license is revoked or suspended, the division shall not issue another license to the licensee nor to the husband or wife of the licensee, nor to any copartnership or corporation of which the licensee is an officer, nor to any person employed by the licensee, until the expiration of at least one year from the date of revocation of the license.

(F) A license issued under this chapter is not transferable.

(G) In conducting an investigation to determine whether an applicant satisfies the requirements for licensure under this section, the superintendent may request that the superintendent of the bureau of criminal identification and investigation investigate and determine whether the bureau has procured any information pursuant to section 109.57 of the Revised Code pertaining to the applicant.

If the superintendent of financial institutions determines that conducting an investigation to determine whether an applicant satisfies the requirements for licensure under this section will require procuring information outside the state, then, in addition to the fee established under division (C) of this section, the superintendent may require the applicant to pay any of the actual expenses incurred by the division to conduct such an investigation, provided that the superintendent shall assess the applicant a total no greater than one thousand dollars for such expenses. The superintendent may require the applicant to pay in advance of the investigation, sufficient funds to cover the estimated cost of the actual expenses. If the superintendent requires the applicant to pay investigation expenses, the superintendent shall provide to the applicant an itemized statement of the actual expenses incurred by the division to conduct the investigation.

(G)(H)(1) Except as otherwise provided in division (G)(H)(2) of this section, a precious metals dealer licensed under this section shall maintain a net worth of at least ten one hundred thousand dollars, computed as required under division (B)(1) of this section, for as long as the licensee holds a valid precious metals dealer's license issued pursuant to this section.

(2) A licensee who obtains a surety bond under division (B)(2) of this section is exempt from the requirement of division (G)(H)(1) of this section, but shall maintain the bond for at least two years after the date on which the licensee ceases to conduct business in this state.

Sec. 4728.04.  (A) The application for a license under this chapter shall state fully the name and address of the person, or corporation, and of every member of the firm, partnership, or association, authorized to do business thereunder, the name of the individual responsible for the daily operation of the business, and the location of the office or place of business in which the business is conducted. In the case of a corporation, the application also shall state the date and place of incorporation, the name and address of the corporation's manager, the names and addresses of corporate directors, and the name and address of the agent, as provided in section 4728.03 of the Revised Code.

The holder of a precious metals dealer's license shall keep the license posted in a conspicuous place in the office where business is transacted. No licensee shall transact or solicit business under any other name or location. Not more than one office or place of business shall be maintained under the same license, except as provided under division (C) of this section. In case of removal, the licensee shall provide written notice in advance to the division of financial institutions in the department of commerce of a prospective change of address of a business location. Upon approval by the superintendent of financial institutions, the division shall issue a new license. If the new location is outside the municipal corporation or county of the original licensed location, the licensee shall pay an additional license fee according to section 4728.03 of the Revised Code.

(B) A person licensed under this chapter shall post a conspicuous notice in its place of business visible to all patrons, in a form and at places designated by rule of the division, that the licensee has no right to retain goods stolen from the true owner, and that the owner may recover the goods or their value from the licensee in an action at law or, if the chief or head of a local police department or the chief's or head's representative law enforcement agency takes custody of the goods, by release pursuant to section 2981.11 of the Revised Code.

(C)(1) The superintendent may issue to a person licensed under this chapter or Chapter 4727. of the Revised Code a temporary exhibition permit for a term that coincides with that of the license of the licensee. A person issued a permit under this division may engage in the business of purchasing articles made of or containing gold, silver, platinum, or other precious metals or jewels from the public at a bona fide auction, convention, exhibition, fair, or show, the primary purpose of which is to display, trade, and sell articles made of or containing precious metals or jewels, for a period not to exceed seven days for any one auction, convention, exhibition, fair, or show. The superintendent shall not issue a permit to a licensee if the sole purpose of the licensee's application is to buy precious metals or jewels at a location other than that listed on the licensee's license.

(2) The superintendent shall determine the application procedures for and the form of the temporary exhibition permit described in this division, provided that a temporary permit shall state fully the name and permanent business address of the licensee to whom it is issued.

(3) The holder of a temporary exhibition permit shall, when participating in any auction, convention, fair, or show, conspicuously display the holder's permit at the location at which the holder transacts business.

(4) A permit holder who wishes to participate in an auction, convention, exhibition, fair, or show shall, at least two weeks prior to its scheduled opening, submit to the superintendent, or and the chief or the head of the local police department law enforcement agency with jurisdiction at the location of the event, the holder's name, the location of the auction, convention, exhibition, fair, or show, and the holder's permanent business address as it appears on the holder's permit issued under division (C)(2) of this section.

(5) All purchases of articles made of or containing gold, silver, platinum, or other precious metals or jewels conducted under a temporary exhibition permit are subject to sections 4728.06 to 4728.09, 4728.13, and 4728.99 of the Revised Code as if made under a license.

Sec. 4728.05.  (A) The superintendent of financial institutions may, either personally or by a person whom the superintendent appoints for the purpose, if the superintendent considers it advisable, investigate at least once a year the business of every person licensed as a precious metals dealer under this chapter, and of every person, partnership, and corporation by whom or for which any purchase is made, whether the person, partnership, or corporation acts, or claims to act, as principal, agent, or broker, or under, or without the authority of this chapter, and for. For that purpose, the superintendent shall have free access to the books and papers thereof of the business, person, partnership, or corporation and other sources of information with regard to the business of the licensee or person and whether the business has been or is being transacted in accordance with this chapter. The superintendent and every examiner may examine, under oath or affirmation, any person whose testimony may relate to any business coming within this chapter.

(B) In making any investigation or conducting any hearing pursuant to this section, the superintendent or a person designated by the superintendent, at any time, may do any of the following:

(1) Compel by subpoena the attendance of witnesses;

(2) Take depositions of witnesses residing without the state in the manner provided for in civil actions;

(3) Pay witnesses the fees and mileage provided for under section 119.094 of the Revised Code;

(4) Administer oaths;

(5) Compel by order or subpoena duces tecum the production of all relevant books, records, accounts, and other documents and examine such books, records, accounts, and other documents.

(C) If a person fails to comply with a subpoena or subpoena duces tecum, the superintendent may apply to the court of common pleas of Franklin county for an order compelling the person to comply with the subpoena or subpoena duces tecum or, for failure to do so, an order holding the person in contempt of court. The superintendent, in accordance with section 4728.03 of the Revised Code, may suspend or revoke the license of any precious metals dealer who fails to comply with this division.

(D) In connection with any investigation under this section, the superintendent may file an action in the court of common pleas of Franklin county or the court of common pleas of the county in which the person who is the subject of the investigation resides to obtain an injunction, a temporary restraining order, or other appropriate relief, if it appears to the superintendent that the person is engaging in actions or threatening to engage in actions in violation of this chapter.

(E) If in an investigation under this section the superintendent determines that a person not licensed under this chapter, or an employee of that person, has been or is engaged or is threatening to engage in activities for which a license is required under this chapter, the superintendent may issue an order to that person requiring the person to show cause why the person should not be subject to licensure under this chapter. If the superintendent determines, after notice and a hearing conducted in accordance with Chapter 119. of the Revised Code, that a person is engaged in, or is threatening to engage in activities that constitute a violation of this chapter, the superintendent may issue a cease and desist order that describes the person and activities that are subject to the order and may impose upon the person a penalty of not less than one five hundred nor more than ten thousand dollars for a violation of this chapter. Any cease and desist order and any penalty issued under this section are enforceable in and may be appealed to a court of common pleas pursuant to Chapter 119. of the Revised Code.

Sec. 4728.06.  Every Except as provided in division (F) of this section, every person licensed under this chapter shall keep and use books and forms approved by the superintendent of financial institutions, which shall disclose, to record information about purchases. The forms and books shall be intelligible, written in the English language, and used exclusively for the purposes described in this section.

(A) The licensee shall record on a form approved by the superintendent all of the following information at the time of each purchase, a:

(1) A full and accurate description, including identifying letters, features, or marks thereon, the name of the manufacturer, and any serial and model numbers, of the articles purchased, with the;

(2) The name, age address, place of residence, and date of birth of the seller;

(3) A valid driver's or commercial driver's license number, military identification number, or other valid personal identification, and a short number of the seller;

(4) A physical description of the person of the seller;

(5) The date and time of the purchase;

(6) The purchase price. The licensee also shall write in the book the name of the maker. The

(B) The licensee shall require a seller, on a form approved by the superintendent, to sign a statement verifying that the seller is the legal owner of the article or is the agent of the legal owner authorized to sell the article to the licensee.

(C)(1) The licensee shall keep the books records and forms in numerical order at all times at the licensed location, open to the inspection of the superintendent or chief of or head of the and local police department, a police officer deputed by the chief or head of police, or the chief executive officer of the political subdivision thereof law enforcement agency that has jurisdiction of the area where the business is located. Upon demand of any of these officials, the licensee shall produce and show an article thus listed and described which is any records, forms, or purchases that are in the licensee's possession.

(2) The licensee shall keep all purchases at the licensee's place of business. No purchased items shall be removed from the place of business for the licensee's personal use or gain.

(3) The licensee shall keep a copy of each form used for a purchase, at all times, in numerical order and shall account for all form numbers.

(4) No licensee shall require a seller, when signing a form described in divisions (A) and (B) of this section, to affix the seller's signature to a blank or partially filled-out form.

(D)(1) The forms described in divisions (A) and (B) of this section shall be identical and consecutively numbered, and each shall contain two or more pages.

(2) One part of each form shall be detachable and, when completed, shall serve as the statement to be given by the licensee to the seller as provided in section 4728.061 of the Revised Code. The remaining part of the form shall be retained in the licensee's permanent records. The licensee shall account for all forms.

(3) Each form shall contain the name under which the licensee is registered with the superintendent and the complete address of the place of business.

(E) Each licensee shall preserve the licensee's books, forms, accounts, and records for at least two years after making the final entry regarding any purchase of property recorded therein.

(F) Notwithstanding any other provision of this chapter, a licensee may use other methods of recording data, keeping records, and keeping books, such as electronic or computerized methods, in lieu of the methods described in this section, provided that written printouts or hard copies of the required data are readily available in a form approved, in advance, by the superintendent.

Sec. 4728.061.  In accordance with division (D)(2) of section 4728.06 of the Revised Code, each person licensed under this chapter shall give to a seller at the time of a purchase a statement upon which shall be legibly written in ink, printed, or typed all of the following:

(A) The name and address of the purchasing licensee;

(B) The purchase price;

(C) The time and date of the purchase;

(D) A full and accurate description of the articles sold, including any serial or model numbers or identifying marks thereon.

The licensee shall retain a copy of the statement for two years from the date of the last entry of the purchase account. Each statement shall be numbered and maintained consecutively, commencing with the number "one," but the licensee may maintain statements in a file.

Sec. 4728.07. (A) Each person licensed under Chapter 4728. of the Revised Code, shall, every business day, make available to the chief or the head of the local police department, on forms furnished by the police department, law enforcement agency a full description of all articles received by the licensee on the business day immediately preceding, together with the number of the receipt record or form issued.

(B) If the local law enforcement agency does not pick up or make arrangements to receive the information described in division (A) of this section, the licensee shall deliver the daily reports to the agency within five business days after the day the record or form was issued.

Sec. 4728.08.  No person licensed under Chapter 4728. of the Revised Code shall purchase any articles from any minor, or from any person known to be intoxicated or under the influence of a controlled substance, from any person who is known or believed by the licensee to be a thief, or a receiver of stolen property.

Sec. 4728.09.  (A) A person licensed under Chapter 4728. of the Revised Code shall retain in this state any articles purchased by him the person until the expiration of five fifteen days after the date of purchase.

(B) If the chief or head of the local police department law enforcement agency to whom the licensee made available the information required by this chapter has probable cause to believe that the article described therein is stolen property, he the agency shall notify the licensee in writing. Upon receipt of notice, the licensee shall retain the article until the expiration of thirty days after the day on which he the licensee is first required to make available the information required by this section, unless the chief or the head of the local police department agency notifies the licensee in writing that he the licensee is not required to retain the article until the expiration.

(C) If the chief or the head of the local police department law enforcement agency determines the identity of the true owner of the allegedly stolen article, that has been purchased and held by a licensee, and informs the licensee of the true owner's identity:

(1) The licensee may restore the allegedly stolen article to its true owner directly.

(2) The true owner may reimburse the licensee for the an amount not exceeding that which the licensee paid for the allegedly stolen article.

(3) The true owner may recover the article and reasonable attorney fees from the licensee in an action at law.

(D) If it is determined that the true owner of the allegedly stolen article, for whatever reason, chooses not to file a charge against the person or persons responsible for the alleged theft, the licensee may charge the true owner of the allegedly stolen article the an amount not exceeding that which the licensee paid for the allegedly stolen article.

Sec. 4728.10. (A) The superintendent of financial institutions shall enforce this chapter, make all reasonable effort to discover alleged violators, notify the proper prosecuting officer whenever the superintendent has reasonable grounds to believe that a violation has occurred, act as complainant in the prosecution thereof, and aid officers to the best of the superintendent's ability in prosecutions. The superintendent shall employ deputies necessary to make the investigations and inspections, and. The superintendent, pursuant to Chapter 119. of the Revised Code, shall adopt reasonable rules, including rules that define terms used in this chapter, for the carrying out of this chapter, and otherwise perform the duties imposed by this chapter.

(B) In order to enforce this chapter, the superintendent may do all of the following:

(1) Issue a cease and desist order against any person the superintendent reasonably suspects has violated, is currently violating, or is about to violate the provisions of this chapter. The superintendent may apply to a court of common pleas for an order compelling a person to comply with any cease and desist order or any subpoena issued by the superintendent.

(2) Obtain from the court of common pleas any form of injunctive relief against any person that has violated, is currently violating, or is reasonably suspected of being about to violate the provisions of this chapter;

(3) Issue a subpoena to any person to compel the production of any item, record, or writing, including an electronic writing;

(4) Issue a subpoena to compel any person to appear and render testimony in regard to a violation of this chapter;

(5) Examine and investigate the business of any person the superintendent reasonably suspects to be advertising, transacting, or soliciting business as a precious metals dealer. This authority includes the authority to examine and investigate the person's business location and any books, records, writings, including electronic writings, safes, files, or storage areas located in or utilized by the business location. The superintendent may request the attendance and assistance of the appropriate local law enforcement agency or the state highway patrol during the examination and investigation of the business.

Sec. 4728.11.  This chapter does not apply to any of the following:

(A) Any purchase of an article that is made of or contains gold, silver, platinum, or other precious metals or jewels and jewelry of any description, including watches, if both the buyer and seller, or the respective agents, brokers, or other intermediaries of both the buyer and seller, deal in such articles or otherwise by their respective occupations, or by their respective avocations as collectors, speculators, or investors, hold themselves out as having knowledge or skill peculiar to such articles or the practices involved in their purchase or sale;

(B) Licensees who obtain licenses under sections 1321.01 to 1321.19 of the Revised Code or registrants who obtain certificates of registration under sections 1321.51 to 1321.60 of the Revised Code Any person doing business under the laws of this state or the United States relating to any broker-dealer, commodity futures commission merchant, or commodity trading advisor or agent duly registered and regulated by the division of securities under Chapter 1707. of the Revised Code or the United States commodity futures trading commission under 7 U.S.C. 1 et seq.;

(C) National banks, state banks, credit unions, or savings and loan associations;

(D) The holder of a salvage motor vehicle dealer's license under Chapter 4738. of the Revised Code who purchases or sells precious metal which, in its original form, is a motor vehicle component part, or a scrap metal processor subject to Chapter 4737. of the Revised Code;

(E) Any purchase of silverware or an article of jewelry made of or containing gold, silver, platinum, or other precious metals or jewels that is made by a person who complies with all of the following:

(1) The person is engaged in the business of selling, at retail, articles of jewelry and silverware;

(2) The person holds a valid vendor's license issued under section 5739.17 of the Revised Code;

(3) The person maintains a fixed place of business in this state at which the person regularly exhibits articles of jewelry and silverware that are for sale at retail Any transactions involving the sale or transfer of gold, silver, platinum, or other precious metals or jewels and jewelry of any description, including watches, by a wholesale jeweler to a retail jeweler or licensed dealer;

(4) The person establishes to the satisfaction of the superintendent of financial institutions or the chief or head of the local police department, upon their request, that the person's purchases of silverware and articles of jewelry that are made of or contain gold, silver, platinum, or other precious metals or jewels are incidental to the person's primary business as described in division (E)(1) of this section. Such purchases are "incidental" if:

(a) In the case of a person who has been in business for less than one year, the average monthly value of the person's purchases of jewelry from the public represents less than twenty-five per cent of the person's total inventory of articles of jewelry held for sale at retail to the public, as computed under section 5711.15 of the Revised Code;

(b) In the case of a person who has been in business for at least one year, the total value of the person's purchases of jewelry from the public represents less than twenty-five per cent of the person's total retail sales of articles of jewelry to the public during the immediately preceding year;

(c) The purchases are of items described in division (F) of this section.

(F) Any purchase of coins, hallmark bars, registered ingots, and other items as numismatic objects, and not for their content of precious metals.

(G) Any purchase made under the supervision of a probate court from the estate of a decedent as provided under section 2113.40 of the Revised Code.;

(H)(G) Except as specified in division (B) of section 4728.02 of the Revised Code, any person licensed under Chapter 4727. of the Revised Code.

Sec. 4728.12.  (A) A person exempt from licensing under division (E) or (F) of section 4728.11 of the Revised Code, and who in the ordinary course of the person's business obtains ownership by purchase of articles made of or containing gold, silver, platinum, or other precious metals or jewels and jewelry of any description, including watches, from the public, shall maintain at each business location for at least the twelve months immediately succeeding any such transaction a record that shall include the following:

(1) The date and time of the transaction purchase;

(2) The name and residential, address, and date of birth of the seller and the means of identification used to establish the seller's identity;

(3) A physical description of the seller;

(4) A complete and accurate description of the purchased article, including any brand names, initials the name of the manufacturer, any serial and model numbers, or other any identifying letters or marks, monograms, or symbols on the article and any identifying features;

(5) The price paid for each article and the means of payment;

(6) A valid driver's license number, military identification number, or other valid personal identification number.

As used in this division section, "purchase" does not include obtaining title to an article that is accepted as a trade-in by a person exempt from licensing under division (E) or (F) of section 4728.11 of the Revised Code when the transaction involves a retail sale of an article of equal or greater value and the value of the trade-in is used as all or a portion of the purchase price, nor does "purchase" include any purchase made under the supervision of a probate court as provided under section 2113.40 of the Revised Code.

(B) No person exempt from licensing under division (E) or (F) of section 4728.11 of the Revised Code to whom division (A) of this section applies shall purchase any article that is made of or contains gold, silver, platinum, or other precious metals or jewels and jewelry of any description, including watches, from any individual whom the person knows or has reason to believe is under eighteen years of age.

(C) Within sixty days after opening a new business location, any Any person exempt from licensing under division (E) or (F) of section 4728.11 of the Revised Code to whom division (A) of this section applies shall notify in writing the chief or head of the police department having local law enforcement agency having jurisdiction in the place where the business is located of the location of the records the person maintains pursuant to division (A) of this section. These records shall be available during normal business hours for inspection by the superintendent of financial institutions or the superintendent's designee, or by the chief or head of the local police department or the chief's or head's designee law enforcement agency.

Sec. 4728.13.  (A) No person, firm, partnership, corporation, or association licensed under this chapter, and no agent, officer, or employee thereof, shall violate this chapter. The division

(B) The superintendent of financial institutions upon a may do any of the following:

(1) Upon the criminal conviction shall of a licensee or any employee, manager, officer, director, shareholder, member, or partner of a licensee for a violation of this chapter, suspend the license of the licensee without a prior hearing to protect the public interest and subsequently revoke any the license theretofore issued to the person, firm, partnership, corporation, or association. The in accordance with the provisions of Chapter 119. of the Revised Code.

(2) Upon the criminal conviction of a licensee or any employee, manager, officer, director, shareholder, member, or partner of the licensee for the violation of any provision of Title XXIX of the Revised Code or under federal law for theft, receiving stolen property, or money laundering, suspend the license of the licensee without a prior hearing to protect the public interest and subsequently revoke the license of the licensee in accordance with the provisions of Chapter 119. of the Revised Code;

(3) Upon the criminal conviction of a licensee for the violation of any provision of Title XXIX of the Revised Code or under federal law for a violation other than theft, receiving stolen property, or money laundering, assess a penalty against the licensee or revoke or suspend the license of the licensee in accordance with the provisions of Chapter 119. of the Revised Code.

(C) The division also of financial institutions may revoke or suspend the license of any licensee in accordance with division (E) of section 4728.03 of the Revised Code upon a criminal conviction of the licensee for any felony offense or crime involving moral turpitude.

(B)(D) No person shall obstruct or refuse to permit any investigation conducted under this chapter by the superintendent of financial institutions, a person acting on behalf of an agency or a political subdivision of this state, or a law enforcement officer. All articles purchased by a person licensed under this chapter shall be made promptly available for inspection by these officials.

(C)(E) In any proceeding or action brought under this chapter, the burden of proving an exemption from a requirement of this chapter falls on the person claiming the benefit of the exemption.

Sec. 4728.14.  Any person who is injured by the failure of a person who is engaged in the business of purchasing articles that are made of or contain gold, silver, platinum, or other precious metals or jewels and jewelry of any description, including watches, to comply with this chapter may commence a civil action to recover compensatory damages from such person. In any action under this section, the court may award punitive damages or reasonable attorney's fees to a prevailing plaintiff.

Sec.  4728.16.  (A) Every sale, transfer, or hypothecation of any stock, security, membership, partnership, or other equitable, beneficial, or ownership interest in a person licensed as a precious metals dealer, in an amount representing a ten per cent or greater equitable, membership, partnership, beneficial, or other ownership interest in the licensee, must be approved in writing by the superintendent of financial institutions prior to the sale, transfer, or hypothecation of the interest in the licensee.

(B) Every person acquiring or receiving an interest as described in division (A) of this section is subject to the licensing requirements of this chapter as if the person were a new and separate license applicant.

Sec. 4728.17.  (A) A person licensed as a precious metals dealer under this chapter shall state the license number issued by the superintendent of financial institutions in all advertisements, offers, and solicitations.

(B) No person not licensed under this chapter may advertise as a precious metals dealer.

Sec. 4728.18.  Any precious metals dealer who purchases precious metals from the public shall have and use a national type evaluation program certified, legal for trade scale, which shall be inspected and certified annually by the auditor of the county in which the person's business is located in accordance with section 319.55 of the Revised Code.

Sec. 4728.99.  (A) Whoever violates Chapter 4728. sections 4728.03 to 4728.14 or sections 4728.16 to 4728.18 of the Revised Code is guilty of a misdemeanor of the first third degree on a first offense and a felony misdemeanor of the fifth second degree on each subsequent offense.

(B) Whoever violates section 4728.02 of the Revised Code is guilty of a felony of the fifth degree.

Section 2.  That existing sections 4728.01, 4728.02, 4728.03, 4728.04, 4728.05, 4728.06, 4728.07, 4728.08, 4728.09, 4728.10, 4728.11, 4728.12, 4728.13, 4728.14, and 4728.99 of the Revised Code are hereby repealed.