Senate amendment makes the following changes to 3rd edition.
Amends GS 66-415(7) to clarify that regulated metals property does not include precious metals. Makes clarifying changes in proposed GS 66-416(b) to the records required for each purchase of regulated metals property by a secondary metals recycler. Deletes provision requiring any secondary metals recycler not convicted of a specified felony to hold and retain nonferrous metals for a certain amount of time. Increases the limitation on cash purchases from $50 to $100 for nonferrous metal property. Allows the revocation of a permit for six months if the owner or employees at a fixed site are convicted of three or more violations of proposed Part 3 within a ten-year period.
Makes other clarifying changes and makes a technical correction. Clarifies that pawnbroker licenses and permits to engage as a dealer purchasing precious metals that are valid on October 1, 2012 (was, December 1, 2012) will continue in force until their natural expiration, unless otherwise revoked or suspended under applicable law. Act applies to offenses committed on or after October 1, 2012 (was, December 1, 2012).