AB 2003 Summary

• Eliminates cash as a payment option for nonferrous materials; junk dealers and recyclers must pay by check only.
• Requires checks to be mailed to the seller's address rather than allowing in-person pickup on or after the third business day after sale.
• Maintains existing requirements for photographing the seller and material, obtaining valid identification with address, preserving records for two years, and obtaining seller thumbprints.
• Provides exemptions for high-volume sellers (five or more transactions per month on separate days), business-to-business transactions with valid business documentation, beverage container redemptions under $20, and coin dealers or automobile dismantlers.