(a) Every secondhand dealer and coin dealer shall retain in his or her possession for a period of seven days all tangible personal property, as defined in Section 21627, reported pursuant to Sections 21628 and 21630. The seven-day holding period with respect to tangible personal property shall commence with the date the report of its acquisition was made to CAPSS.

(b) During the seven-day holding period specified in subdivision (a), every secondhand dealer and coin dealer shall produce any tangible personal property reported pursuant to Sections 21628 and 21630 for inspection by any peace officer or employee designated by the local licensing authority or the Department of Justice.

Terms Used In California Business and Professions Code 21636.1

  • coin dealer: means any person, firm, partnership, or corporation whose principal business is the buying, selling, and trading of coins, monetized bullion, or commercial grade ingots of gold, or silver, or other precious metals. See California Business and Professions Code 21626
  • Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
  • Personal property: All property that is not real property.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • secondhand dealer: as used in this article , means and includes any person, copartnership, firm, or corporation whose business includes buying, selling, trading, taking in pawn, accepting for sale on consignment, accepting for auctioning, or auctioning secondhand tangible personal property. See California Business and Professions Code 21626
  • Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
  • tangible personal property: means all secondhand tangible personal property that bears a serial number or personalized initials or inscription or that, at the time it is acquired by the secondhand dealer, bears evidence of having had a serial number or personalized initials or inscription. See California Business and Professions Code 21627

(c) Tangible personal property subject to inspection as specified in subdivision (b) and all tangible personal property held in pawn that is stored off the business premises of the licensee shall, upon request for inspection, be produced at the licensee’s business premises within one business day of a request by the local licensing authority or the Department of Justice.

(d) (1) If 5 days have elapsed since the transmission of the report of acquisition pursuant to Section 21628 or 21630, the remainder of the seven-day hold specified in subdivision (a) shall not apply to any tangible personal property sold by the secondhand dealer or coin dealer when the following are present:

(A) The secondhand dealer or coin dealer has recorded the sale in its book of records.

(B) The record of sale includes:

(i) The name of buyer to whom the tangible personal property was sold.

(ii) The buyer’s address.

(iii) At least one of the following:

(I) The buyer’s telephone number.

(II) The buyer’s email address.

(III) The buyer’s electronic address for receiving text messages.

(2) In documenting the record of sale as set forth in paragraph (1), the secondhand dealer or coin dealer shall record the information provided by the buyer and shall not have any duty to verify the accuracy of the information provided by the buyer.

(3) The information collected pursuant to this subdivision shall be retained by the secondhand dealer or coin dealer for 21 days following the date of sale of the property by the secondhand dealer or coin dealer and shall be available for inspection by a local law enforcement agency during this period.

(4) If a sale of property is made pursuant to this subdivision, and within 21 days of the sale a local law enforcement agency notifies the secondhand dealer or coin dealer that the property has been reported stolen, the record of the sale and all information contained therein shall be provided to that local law enforcement agency by the secondhand dealer or coin dealer upon written request by that agency.

(Added by Stats. 2018, Ch. 184, Sec. 2. (AB 1993) Effective January 1, 2019.)

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