[HISTORY: Adopted by the Mayor and Council of the Borough of Runnemede 3-28-1990 by Ord. No. 90-2 (Ch. 77 of the 1970 Code). Amendments noted where applicable.]
The Mayor and Council hereby finds that there is a need to regulate and control the buying and selling of gold, silver and precious or semiprecious gems in order to prevent the easy disposal of items which have been unlawfully obtained as the result of crime while protecting and recognizing the legitimate businesses which are engaged in the buying and selling of gold, silver and precious or semiprecious gems.
The following definitions shall apply to terms used within this chapter, unless the context requires otherwise:
- Any person, partnership or corporation who, through any means, buys gold, silver, precious or semiprecious metals or gems.
- Any person, partnership or corporation who, through any means, buys or sells gold, silver, precious or semiprecious metals or gems, and includes anyone advertising the purchase or sale of any of the aforementioned items.
- Any article or product with a gold content, without regard to the fineness thereof.
- Any person under the age of 18 years.
- PRECIOUS OR SEMIPRECIOUS GEM
- Not limited to those categories known as "diamonds," "rubies," "pearls" and "sapphires" and is commonly called a "jewel."
- Includes any exchange of gold, silver or any precious or semiprecious gem for anything of value. A payment need not be made by way of money in order to constitute purchase for the purpose of this chapter.
- REGULATED ACTIVITY
- The purchase of any used item containing gold or silver for subsequent resale purposes and not for personal use.
- Any person, partnership or corporation who, through any means, sells gold, silver, precious or semiprecious metals or gems.
- Any article or product with a silver content, without regard to the fineness thereof.
- USED ITEM CONTAINING GOLD OR SILVER
- Any item containing gold or silver previously sold or transferred to a consumer for the personal use or enjoyment of such consumer.
License required. No person shall engage in a regulated activity, as defined above, without having first obtained a license therefor from the Borough Clerk, which license shall bear a number issued by the Borough Clerk and shall be prominently displayed within the licensed premises. The requirement of a license shall apply to the business entity and to any individual employee who engages in a regulated activity on behalf of a business entity.
License fee. At the time of filing the application for a license, a license fee of $100 shall be paid for the initial license for the premises where the activity is to be conducted, together with a fee of $25 for each employee who is to be licensed. Thereafter, the annual renewal fee for the license and for each employee who is to be licensed shall be $25.
Term of license. Each license shall expire in December of the year in which it is issued.
Application for license. An application for a license shall be in writing on forms established by the Borough Clerk and shall state the full name and place of residence of the applicant or, if the applicant is a partnership, of each member thereof or, if a corporation or association, of each officer and stockholder thereof, together with the place or places where the business is to be conducted. For any corporation whose stock is publicly traded, the requirement for information on each officer and stockholder may be satisfied by attaching to the application a copy of the most recent annual report of its corporation, listing the officers and directors of the corporation, along with a certification as to the total number of stockholders and the name and address of any stockholders holding more than 10% of the outstanding stock. The application shall include the fingerprints of each individual applicant or licensed employee, each member of a partnership or each stockholder holding more than 10% of the outstanding stock in a corporate applicant.
Upon receipt of an application completed pursuant to this chapter, the Clerk shall refer the application to the Chief of Police, who shall institute such investigation of the applicant's moral character and business responsibility as he deems necessary for the protection of the public welfare. Upon completion of the investigation, which in no case shall take more than 30 days, the Chief of Police shall return the application or a copy thereof to the Clerk, accompanied by his recommendation as to whether the license should be issued or denied. If the recommendation of the Chief of Police is to deny the license, the grounds for the recommendation shall be stated. Grounds for recommending denial of a license may include information indicating that the applicant is not of good moral character or is of questionable business responsibility, and a recommendation of denial shall be given if the applicant has been convicted of a crime of the first or second degree or of any crime involving dishonesty, fraud, deceit or misrepresentation. Upon receipt of the recommendation of the Chief of Police, the Clerk shall issue or deny the license accordingly. Any person aggrieved by such denial may appeal to the Mayor and Council, who may confirm or reverse the denial as deemed advisable.
Any license may be revoked for any violation of this chapter, in addition to any other penalty imposed for any violation. Upon any violation, the Borough of Runnemede may suspend a license upon written notice to the license holder. Upon receipt of the notice of suspension, the license holder may, within 10 days, request a hearing on the suspension before the Borough of Runnemede. The hearing shall be held within 30 days of the request, at which hearing the license holder shall have the opportunity to be heard. At the conclusion of the hearing, the Borough of Runnemede shall either revoke the license or shall reinstate the license. In the event that the license shall be automatically revoked upon the expiration of 10 days after the notice of suspension has been given to the license holder.
No person licensed as a dealer in the Borough shall, by virtue of one license, keep more than one place of business for receiving or taking goods.
No dealer shall, at any time, do business at any place other than the place for which the license was granted.
Every licensee shall issue to the seller and keep for his own records, for not less than one year, a serialized receipt for each purchase of precious metals, containing the following:
The name and address of the buyer.
The date of the transaction.
The names of the precious metals purchased.
The finenesses of the precious metals purchased.
The weights of the precious metals purchased.
The prices paid for the precious metals at the standard measures of weight and fineness.
The name, address and signature of the seller.
The driver's license number of the seller.
The buyer shall make the record of transactions available for inspection by any police officer.
A licensee shall not accept or buy any gold, silver or precious or semiprecious gem from any person under the age of 18 years, unless such minor is accompanied by a parent or guardian and said parent or guardian gives specific written consent to the transaction and acknowledges the receipt required by the buyer to be given to the seller.
No dealers shall sell any article until the same has been in their possession at least 15 days.