4790                                      LAWS OF MARYLAND                                    Ch. 884

Article 56 - Licenses

Section 416(e), 417, 422, and 423(a) and (b) to be
under the amended subtitle "Secondhand Precious
Metals and Gem Dealers and Pawnbrokers"

Annotated Code of Maryland

(1979 Replacement Volume and 1981 Supplement)

BY adding to

Article 56 - Licenses

Section 416(h) and 425(d)

Annotated Code of Maryland

(1979 Replacement Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article 56 - Licenses

Secondhand Precious Metals and Gem Dealers AND PAWNBROKERS

416.

(e) "Dealer" means a person engaged in the business of
buying, acquiring, or trading commercially with members of
the public in secondhand precious metals in this State OR,
UNLESS OTHERWISE PROVIDED, A PAWNBROKER.

(H) "PAWNBROKER" MEANS ANY PERSON WHO LOANS MONEY ON
DEPOSIT OR PLEDGE OF PERSONAL PROPERTY OR OTHER VALUABLE
THING, OTHER THAN SECURITIES OR PRINTED EVIDENCES OF
INDEBTEDNESS, OR WHO DEALS IN THE PURCHASING OF PERSONAL
PROPERTY OR OTHER VALUABLE THINGS ON CONDITION OF SELLING
THE SAME BACK AT A STIPULATED PRICE.

417.

This subtitle does not apply to transactions

concerning:

(1) Merchandise acquired from an established
manufacturer or licensed dealer with a fixed business
address, if the acquiring dealer retains an invoice or other
customary proof of origin of the merchandise; OR

(2) Metals acquired by a licensed dentist in
connection with the practice of dentistry[; or

(3) Coins or similar numismatic items].

422.