Ch. 227

1997 LAWS OF MARYLAND

Article - Business Regulation

12-101.

(a) In this title the following words have the meanings indicated.

(b) (1) "Dealer" means an individual who acquires commercially from the
public or trades commercially with the public in secondhand precious metal objects or,
unless otherwise provided, a pawnbroker.

(2) "Dealer" includes a retail jeweler as to transactions in which the retail
jeweler acquires commercially from the public or trades commercially with the public in
secondhand precious metal objects.

(c) "Employee" means an individual who is employed by a dealer or pawnbroker
to buy, sell, or supervise directly the buying or selling of secondhand precious metal
objects.

(D) "FIXED BUSINESS ADDRESS" MEANS A SINGLE PHYSICAL LOCATION
WHERE A LICENSEE REGULARLY CONDUCTS BUSINESS AND AT WHICH THE
LICENSEE OR AN EMPLOYEE OF THE LICENSEE IS PHYSICALLY PRESENT:

(1) DURING NORMAL BUSINESS HOURS; OR

(2) OTHER HOURS AS PROVIDED IN THE APPLICATION FOR THE
LICENSE WHICH ARE SUFFICIENT TO PROVIDE AN AUTHORIZED LAW
ENFORCEMENT OFFICER OR AGENT ACCESS TO THE LICENSEE'S PLACE OF BUSINESS
AS PROVIDED IN § 12-306 OF THIS TITLE.

[(d)] (E) "License" means a license issued by the Secretary to do business as a
dealer.

(F) "LOCAL LAW ENFORCEMENT UNIT' MEANS THE DEPARTMENT OF STATE
POLICE, A POLICE DEPARTMENT, OR SHERIFF, AS DESIGNATED BY RESOLUTION OF
THE COUNTY OR MUNICIPAL GOVERNING BODY, WITH JURISDICTION OVER ANY
PLACE WHERE A DEALER TRANSACTS BUSINESS OTHER THAN THE DEALER'S FIXED
BUSINESS ADDRESS.

[(e)] (G) "Pawnbroker" means a person who engages in pawn transactions.

[(f)] (H) "Pawn transaction" means a loan of money by a dealer on deposit or
pledge of personal property or other valuable thing other than securities or printed
evidences of indebtedness, or a purchase by a dealer of personal property or other
valuable things on condition of selling the same back at a stipulated price.

[(g)] (I) "Precious metal object" means:

(1) a precious metal that is:

(i) gold;

(ii) iridium;

(iii) palladium;

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