New York S 4133: Requires the registration of mail-in second-hand precious metals dealers with the department of state, regulates the conduct of the business thereof

Bill Text

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S04133 Summary:

BILL NOS04133 

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SAME ASNo Same As

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Add Art 13-C §§239-d - 239-k, Gen Bus L

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Requires the registration of mail-in second-hand precious metals dealers with the department of state; regulates the conduct of the business thereof.

Go to top S04133 Actions:

BILL NOS04133 

&nbsp

02/03/2025REFERRED TO CONSUMER PROTECTION

01/07/2026REFERRED TO CONSUMER PROTECTION

Go to topS04133 Committee&nbspVotes:

Go to topS04133 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04133 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4133

 2025-2026 Regular Sessions

 IN SENATE

 February 3, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Consumer Protection

 AN ACT to amend the general business law, in relation to mail-in
 second-hand precious metals dealers

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The general business law is amended by adding a new article
 2 13-C to read as follows:
 3 ARTICLE 13-C
 4 MAIL-IN SECOND-HAND PRECIOUS
 5 METALS DEALERS
 6 Section 239-d. Definitions.
 7 239-e. Application of article.
 8 239-f. Registration, transaction and recordkeeping.
 9 239-g. Tendering payment.
 10 239-h. Inspection of records and premises.
 11 239-i. Holding period.
 12 239-j. Penalties.
 13 239-k. Powers of the department.
 14 § 239-d. Definitions. As used in this article:
 15 1. "Department" means the department of state.
 16 2. "Jewelry" means a personal ornament that contains a precious metal
 17 and may contain a gemstone or gemstones.
 18 3. "Mail-in second-hand precious metals dealer" means any person or
 19 entity that:
 20 (a) conducts business within this state, that contracts with other
 21 persons or entities to buy precious metals or jewelry through an inter-
 22 net website, the United States mail or telemarketing; or
 23 (b) conducts business within this state, that regularly engages in the
 24 business of purchasing jewelry or precious metals through the United
 25 States mail or internet based transactions.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07691-01-5

 S. 4133 2

 1 4. "Precious metal" means any item containing any gold, silver or
 2 platinum, or any combination thereof.
 3 5. "Seller" means any person or entity offering precious metals or
 4 jewelry for sale, which belong solely to such person or entity and which
 5 has absolute authority to sell such goods.
 6 6. "Transaction" means any event relating to the sale and purchase of
 7 second-hand precious metals or jewelry by a mail-in second-hand precious
 8 metals dealer.
 9 § 239-e. Application of article. This article shall not apply to:
 10 1. any person or entity that is available to the public for walk-in
 11 sales; or
 12 2. the purchase, consignment or trade of second-hand precious metals
 13 or jewelry between second-hand precious metals dealers.
 14 § 239-f. Registration, transaction and recordkeeping. 1. No mail-in
 15 second-hand precious metals dealer shall conduct business unless it is
 16 registered with the department pursuant to this article.
 17 2. No mail-in second-hand precious metals dealer shall remit payment
 18 to a seller unless the seller has provided such dealer with:
 19 (a) the seller's name, address, telephone number and electronic mail
 20 address, if available;
 21 (b) the seller's driver's license number and issuing state, or any
 22 other government issued identification number; and
 23 (c) A sworn statement made by the seller that the driver's license
 24 number or other government issued identification number provided by the
 25 seller is true and accurate, and that the seller is the true and lawful
 26 owner of the goods sold. Such statement shall include the following
 27 language: "I declare under the penalty of perjury that the foregoing is
 28 true and accurate."
 29 3. For every transaction, a mail-in second-hand precious metals deal-
 30 er shall retain a record of the following:
 31 (a) A complete and accurate description of the seller's g