Sec. 1. (a) When used in this chapter, “valuable metal” means any product made of metal that readily may be resold. The term:

(1) includes metal bossies and small component motor vehicle parts; and

(2) does not include the following:

(A) A beverage can.

(B) Used jewelry regulated under IC 24-4-13.

(C) Precious metal regulated under IC 24-4-19.

     (b) As used in this chapter, “valuable metal dealer” means any individual, firm, corporation, limited liability company, or partnership engaged in the business of purchasing and reselling valuable metal either at a permanently established place of business or in connection with a business of an itinerant nature, including junk shops, junk yards, junk stores, auto wreckers, scrap metal dealers or processors, salvage yards, collectors of or dealers in junk, and junk cars or trucks. The term includes a core buyer. The term does not include a person who purchases a vehicle and obtains title to the vehicle.

Terms Used In Indiana Code 25-37.5-1-1

  • core buyer: means a person engaged in the business of purchasing or acquiring small component motor vehicle parts for resale, including catalytic converters, automobile radiators, and batteries. See Indiana Code 25-37.5-1-0.2
  • 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.
  • valuable metal: means any product made of metal that readily may be resold. See Indiana Code 25-37.5-1-1

     (c) As used in this chapter, “purchase” means acquiring a valuable metal product for a consideration, but does not include purchases between scrap metal processing facilities (as defined in IC 8-23-1-36).

Formerly: Acts 1971, P.L.380, SEC.1; Acts 1972, P.L.11, SEC.11. As amended by P.L.145-1990, SEC.1; P.L.8-1993, SEC.403; P.L.2-2007, SEC.349; P.L.170-2007, SEC.1; P.L.3-2008, SEC.205; P.L.63-2008, SEC.4; P.L.158-2009, SEC.3; P.L.222-2013, SEC.6.