OH HB164

Increases precious metals dealer net worth requirement from $10,000 to $100,000, with option to obtain surety bond of same amount instead.

Changes license renewal from annual to biennial (every two years) for licenses issued on or after January 1, 2012, with expiration on June 30 of even-numbered years.

Limits charges to true owners recovering stolen precious metal items to only the amount the dealer originally paid, preventing dealers from charging fees or markups.

Expands record-keeping requirements to include seller's date of birth, valid personal identification numbers, and requires forms to be consecutively numbered with detachable receipts given to sellers.

Changes criminal penalties for violations from misdemeanor of first degree to third degree on first offense, and from felony of fifth degree to misdemeanor of second degree on subsequent offenses, with separate fifth-degree felony penalty for unlicensed dealing.