76-10-907.3 - Restrictions on the purchase of regulated metal -- Exemption.
76-10-907.3. Restrictions on the purchase of regulated metal -- Exemption.
(1) A dealer may conduct purchase transactions involving regulated metal only between thehours of 6 a.m. and 7 p.m.
(2) Except when the dealer pays a government entity by check for regulated metal, the dealermay not purchase any of the following regulated metal without obtaining and keeping on file reasonabledocumentation that the seller is an employee, agent, or contractor of a governmental entity who isauthorized to sell the item of regulated metal property on behalf of the governmental entity:
(a) a manhole cover or sewer grate;
(b) an electric light pole; or
(c) a guard rail.
(3) (a) A dealer may not purchase suspect metal without obtaining the information underSubsection (3)(b) identifying the owner of the suspect metal.
(b) The owner of the suspect metal shall provide in writing:
(i) the owner's telephone number;
(ii) the owner's business or residential address, which may not be a post box;
(iii) a copy of the owner's driver license; and
(iv) a signed statement that the person is the lawful owner of the suspect metal and authorizesthe seller, identified by name, to sell the suspect metal.
(c) The dealer shall keep the identifying information provided in Subsection (3)(b) on file fornot less than one year.
(4) Transactions with businesses that have an established account with the dealer are exemptfrom the requirements of Subsections (2) and (3) if the business holds a valid business license, and:
(a) (i) the dealer has on file a statement from the business identifying those employeesauthorized to sell all metals to the dealer; and
(ii) the dealer conducts regulated metal transactions only with those identified employees of thebusiness and records the name of the employee when recording the transaction;
(b) the dealer has on file reasonable documentation from the business that any person verifiedas representing the business as an employee, and whom the dealer has verified is an employee, may sellregulated metal; or
(c) the dealer makes payment for regulated metal purchased from a person by issuing a checkto the business employing the seller.
Amended by Chapter 325, 2009 General Session