HB 382 Summary

• Establishes recordkeeping requirements for secondhand dealers, requiring records of all secondhand transactions to be retained at the business premises for two years from the date of sale.

• Amends recordkeeping requirements for pawnbrokers under section 445-134.17, extending the retention period from one year to two years after the maturity date.

• Specifies that records must be kept on premises and open to inspection at any time by the treasurer, chief of police, or their authorized representatives.

• Changes the requirement from retaining "copies" to retaining "records" of transactions, clarifying the form of documentation required.

• Takes effect upon approval and does not affect rights, duties, or proceedings that began before the effective date.