§ 445.481 Short title
§ 445.482 Definitions
§ 445.483 Dealer; certificate of registration required; internet drop-off store exempt from registration; application; fee; disclosures; dealer, agent, or employee convicted of misdemeanor or felony; compliance
§ 445.484 Permanent record of each transaction; forms; copies; information required; numbering; sending copy of record of transaction form to police agency or sheriff’s department; inspection; confidentiality;
§ 445.485 Retaining precious item for 9 calendar days; alteration
§ 445.486 Prohibited conduct
§ 445.487 Failure to make entry in records as misdemeanor or felony; penalty
§ 445.488 Violation of MCL 445.483(7) or (8) or 445.484(1)(e), (3), (4), or (5) as misdemeanor or felony; penalty
§ 445.489 Conduct constituting felony; penalty
§ 445.490 Violation of MCL 445.483(1) or 445.485 as felony; penalty
§ 445.491 Action against dealer; grounds; damages, costs, and attorneys’ fees
§ 445.492 Effective date

Terms Used In Michigan Laws > Chapter 445 > Act 95 of 1981

  • Agent or employee: means a person who, for compensation or valuable consideration, is employed either directly or indirectly by a dealer. See Michigan Laws 445.482
  • Appraisal: A determination of property value.
  • Civil infraction: means an act or omission that is prohibited by a law and is not a crime under that law or that is prohibited by an ordinance and is not a crime under that ordinance, and for which civil sanctions may be ordered. See Michigan Laws 600.113
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dealer: means any person, corporation, partnership, or association, which, in whole or in part, engages in the ordinary course of repeated and recurrent transactions of buying or receiving precious items from the public within this state. See Michigan Laws 445.482
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Gold: means elemental gold having an atomic weight of 196. See Michigan Laws 445.482
  • Internet drop-off store: means a person, corporation, or firm that contracts with other persons, corporations, or firms to offer its precious items for sale, purchase, consignment, or trade through means of an internet website and meets the conditions described in section 3(3). See Michigan Laws 445.482
  • Jewelry: means an ornamental item made of a material that includes a precious gem. See Michigan Laws 445.482
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Local governmental unit: means a city, village, township, or county. See Michigan Laws 445.482
  • Local police agency: means the police agency of the city, village, or township, or if none, the county sheriff of the county, in which the dealer or internet drop-off store conducts business. See Michigan Laws 445.482
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • 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, as well as to individuals. See Michigan Laws 8.3l
  • Personal property: All property that is not real property.
  • Platinum: means elemental platinum having an atomic weight of 195. See Michigan Laws 445.482
  • Precious gem: means a diamond, alexandrite, ruby, sapphire, opal, amethyst, emerald, aquamarine, morganite, garnet, jadeite, topaz, tourmaline, turquoise, or pearl. See Michigan Laws 445.482
  • Precious item: means jewelry, a precious gem, or an item containing gold, silver, or platinum. See Michigan Laws 445.482
  • Silver: means elemental silver having an atomic weight of 107. See Michigan Laws 445.482
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o