Minnesota Statutes 325F.731 – Definitions
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Subdivision 1.Terms.
For the purposes of Laws 1981, chapter 333, sections 1 to 17, the following terms have the meanings given them.
Subd. 2.Precious metal dealer.
Terms Used In Minnesota Statutes 325F.731
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
Terms Used In Minnesota Statutes 325F.731
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
“Precious metal dealer” means any natural person, partnership, or corporation, either as principal or agent, engaging in the business of buying secondhand items containing precious metal, including, but not limited to, jewelry, watches, eating utensils, candlesticks, and religious and decorative objects.
Subd. 3.Precious metals.
“Precious metals” means silver, gold, and platinum.
Subd. 4.Item containing precious metal.
“Item containing precious metal” means an item made in whole or in part of metal and containing more than one percent by weight of silver, gold or platinum.