(a) Each dealer engaged in the business of purchasing precious items for the purpose of reselling the items shall purchase a state license in the amount of one hundred dollars ($100) and a county license in the amount of fifty dollars ($50) under Article 1, Chapter 12, Title 40. The dealer shall purchase one state license per year and shall annually purchase the county license in each county where he or she conducts business. No dealer shall operate in the State of Alabama unless he or she first obtains the business license required herein to engage in the business of purchasing precious items.

Terms Used In Alabama Code 8-34-2

  • dealer: Any person, corporation, or partnership that engages in the business of purchasing precious items for the purpose of reselling such items in any form. See Alabama Code 8-34-1
  • LOCAL LAW ENFORCEMENT AGENCY: The chief of police for businesses located within the jurisdiction of a municipality and the county sheriff for businesses located outside the jurisdiction of a municipality. See Alabama Code 8-34-1
  • PERMANENT PLACE OF BUSINESS: A fixed premises either owned by the dealer or leased by the dealer for at least one year. See Alabama Code 8-34-1
  • purchase: The acquisition of a precious item or items for a consideration of cash, goods, or another precious item. See Alabama Code 8-34-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1

(b) A dealer may only operate from the permanent place of business listed on the business license. The dealer shall forward a copy of each state and county license to the local law enforcement agency within five days of receipt.

(Act 2010-732, p. 1843, §2.)