[Amended 6-26-1996 by Ord. No. 96-13]
No person regulated by this chapter shall sell, melt down or otherwise dispose of any merchandise covered by this chapter purchased by such person until after the expiration of 20 days from the filing of a report pursuant to §
173-5; provided, however, that no such waiting period shall be required if the merchandise is purchased from a person regularly engaged in the business of buying and selling precious metals and licensed and regulated pursuant to an ordinance of another municipality similar to this chapter and requiring a similar waiting period of not less than 20 days.
Each licensee shall maintain duplicate copies of all seller receipts issued pursuant to §
173-3, in legible form, for a period of at least two years from the date of each sale. The license shall be posted in a conspicuous place at the location of the sale or sales licensed under this chapter. Within 36 hours of any purchase, the licensee shall deliver to the Manalapan Township Police Department a list of all items purchased. Said list shall contain a description of each item, any identifying numbers or inscriptions, the time of purchase and the name and address of the seller.
Within 10 days of the issuance of a license,
each licensee shall deliver a bond to the Township Clerk executed
by the applicant as principal, with a surety company authorized to
do business under the laws of the State of New Jersey as surety. The
bond, to be approved by the Township Attorney, shall be in the penal
sum of $10,000 continued for the due and proper observance of and
compliance with the provisions and requirements of all ordinances
of the Township in force or which may be adopted respecting the conduct
of this business and conditioned also that the bond shall be and remain
for the benefit of any person or persons who shall have received judgment
against the licensee licensed under this chapter by reason of any
damage sustained by any such person as a result of the operations
of the licensee under this chapter, which damage shall be established
by a judgment of a court of proper jurisdiction. Said bond shall contain
the following language: "The obligation of this bond shall,
in addition to the Township of Manalapan, be and remain for the benefit
of any person who shall obtain a judgment against the obligor as a
result of damage sustained in operation pursuant to any license granted
under Township ordinance." Said bond shall be kept in force
for a minimum period of one year from the date of issuance of the
license and must be renewed annually along with the license.
Any individual person, partnership or corporation
found in violation of the provisions of this chapter shall be subject
to a fine not to exceed $500, and imprisonment not to exceed 30 days,
or both, in the discretion of the court.