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DE HB393

Bill

Status

Engrossed

6/28/2012

Primary Sponsor

John Kowalko

Click for details

Origin

House of Representatives

146th General Assembly

AI Summary

  • Requires posting of current precious metals prices based on London Bullion Market Association (LBMA) and London Platinum and Palladium Market (LPPM) daily rates on a conspicuous sign near weighing devices.

  • Mandates price postings include per troy ounce prices for 24, 18, 14, and 10 karat gold; pure and sterling silver; and platinum.

  • Requires display of metric-to-troy ounce conversion chart (31.10348 grams per troy ounce) when weight measurements are expressed in metric units.

  • Defines "precious metals" as items containing or being gold, silver, or platinum including jewelry and silver services, but excluding coins, ingots, bullion, photographic film, and items with less than 5% precious metal content by weight.

  • Sets minimum weighing device standards requiring 0.1 gram or 0.1 pennyweight graduation for scales with capacity of 3,000 grams or 100 troy ounces or less, and positions scales for visibility and observation by both buyer and seller.

Legislative Description

An Act To Amend Title 24 Of The Delaware Code Relating To Pawnbrokers, Secondhand Dealers, And Scrap Metal Processors And Precious Metals, Pricing, And Weighing.

Last Action

Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT

6/28/2012

Committee Referrals

Economic Development/Banking/Insurance/Commerce6/19/2012

Full Bill Text

No bill text available