§ 13-120. Limitations on cash transactions.

(a)

A secondary metals recycler shall not enter into any cash transaction for purchase of any restricted regulated metals property.

(b)

Payment by a secondary metals recycler for the purchase of restricted regulated metal property shall be made by check issued to the seller and payable to the seller or by electronic payment to the seller's bank account or to the seller's employer's bank account.

(c)

Each check for payment shall be mailed by the secondary metals recycler directly to the current street address of the seller which is on file with the secondary metals recycler unless otherwise provided in this article. Payment shall not be mailed to a post office box. Electronic payments shall be sent to a bank account for which the seller is listed as an account holder or an employee or agent thereof.

(d)

Each check or electronic payment shall be mailed or electronically transferred by the secondary metals recycler to the seller within three (3) business days of the purchase of the regulated metals property unless otherwise provided in this article.

(e)

The secondary metals recycler may provide a check at the time of the purchase transaction, rather than mailing said check as required above, if the seller is in one (1) of the following exempt categories:

(1)

Organizations, corporations, or associations registered with the state as charitable, philanthropic, religious, fraternal, civic, patriotic, social, or school-sponsored organizations or associations, or from any nonprofit corporation or association;

(2)

A law enforcement officer acting in an official capacity;

(3)

A trustee in bankruptcy, executor, administrator, or receiver who has presented proof of such status to the secondary metals recycler;

(4)

Any public official acting under judicial process or authority who has presented proof of such status to the secondary metals recycler;

(5)

A sale on the execution, or by virtue of any process issued by a court, if proof thereof has been presented to the secondary metals recycler; or

(6)

A manufacturing, industrial, or other commercial vendor that generates regulated materials in the ordinary course of business.

(Ord. No. 12-07, § 3, 3-12-12)