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IN SB0351

Bill

Official Source

Status

Introduced

1/12/2010

Primary Sponsor

Brent Waltz

Click for details

Origin

Senate

2010 Regular Session

AI Summary

  • Establishes a new chapter in Indiana Code (IC 35-46-9) creating criminal penalties for gold purchases below market value
  • Makes it a Class A misdemeanor to purchase gold for resale at less than 78% of the closing spot price from the New York Mercantile Exchange for the preceding trading day
  • Defines "closing spot price of gold" as the price determined on the New York Mercantile Exchange and "trading day" as any day when a closing price is determined
  • Applies to persons who knowingly or intentionally purchase gold for resale below the specified threshold
  • Takes effect July 1, 2010

Legislative Description

Minimum price for gold purchased by resellers.

Last Action

First reading: referred to Committee on Corrections, Criminal, and Civil Matters

1/12/2010

Full Bill Text

No bill text available