Custody of precious item; forms of payment to seller; purchase of item from person under 18 years of age

1. Law
2. Mississippi Code
3. Regulation of Trade, Commerce and Investments
4. Business of Purchasing Precious Items for Resale
5. Custody of precious item; forms of payment to seller; purchase of item from person under 18 years of age

1. Any item purchased must be held in the dealer's custody in the same shape and form for which it was receipted for fifteen (15) business days after delivering the list of items required under Section 75-95-5 to the local law enforcement agency.
2. A dealer may make payment to a seller only by check made payable to a named actual intended seller.
3. It is presumptive evidence of intent to violate this chapter if the items purchased are not listed or fail to agree with the description contained in the required list.
4. On notification by a law enforcement agency or district attorney's office that the items purchased are the fruits of a crime, a dealer may not dispose of those items.
5. A dealer may not purchase items from any person under eighteen (18) years of age unless the person is accompanied by a parent or guardian who submits the identification required under Section 75-95-5.

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