Ch. 627

LAWS OF MARYLAND

(d) (1) "Precious metals" means gold, silver, PALLADIUM,
IRIDIUM, platinum, or any item composed of those metals or of an
alloy of those metals if the market- value of the metal therein is
principally the gold, silver, PALLADIUM, IRIDIUM, or platinum
component, or if at least 25 percent of the item's weight is
gold, silver, PALLADIUM, IRIDIUM, or platinum.

(2) "Precious metals" includes a precious or a
semiprecious stone, or a pearl, that is OR APPEARS TO HAVE BEEN
attached or affixed to, or inlaid in, gold, silver, platinum,
PALLADIUM, IRIDIUM, or any alloy of any of these metals.

417.

This subtitle does not apply to transactions concerning:

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

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

(3)  Coins or similar numismatic items.

418.

(a)  The Secretary shall license dealers. After June 1,
1981, every dealer in this State shall be licensed as provided in
this subtitle. A license may be issued only to an individual.

(b)  To obtain a license, a dealer shall file a signed
application verified under oath with the Secretary or his
designee. The Secretary may arrange with the clerks of the
circuit court to accept applications and forward them to the
Secretary.

(c)  The application form shall be based on the application
form for a trader's license and shall include:

(1)  The applicant's name, date of birth, and
residence address;

(2)  The fixed address at which the applicant intends
to conduct business, the fixed address in this State at which
precious metals will be stored if different from the business
address, and a telephone number at which the dealer can be
reached during normal business hours;

(3)  A list of the addresses where the applicant has
conducted any type business within the 36 months prior to
application;

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