SB 157
Modifies provisions relating to the disposition of personal property
LR Number:
Last Action:
6/26/2013 - Signed by Governor
Journal Page:
CCS HCS SCS SB 157 & SB 102
Calendar Position:
Effective Date:
August 28, 2013
House Handler:

Current Bill Summary

CCS/HCS/SCS/SB 157 & SB 102 - This act modifies provisions relating to the disposition of personal property.

SALE OF PRECIOUS METALS (Section 407.292) - This act requires that a record be kept for all transactions involving gold, silver, and platinum. Records of buyer transactions may be made available to law enforcement officials or other entities. When a purchase is made from a minor, the written authority of a parent or guardian authorizing the sale shall be attached and maintained with the record. This act also requires that when a weighing devise is used to purchase gold, silver, or platinum, that a sign be posted listing prices for the gold, silver, or platinum as set forth in this act. The weighing device shall be positioned so that it may be read by both the buyer and seller. The person operating the device shall make a verbal statement of the result of the weighing. If a gold, silver, or platinum purchase is not in accordance with this section, it shall be considered a violation and the buyer may be subject to a fine not to exceed $1,000.

SCRAP METAL (Sections 407.300-407.303) - This act modifies the documentation requirement for transactions where junk or scrap metal is sold or traded. A record must be kept for each transaction involving a catalytic converter. In addition, the record must contain the gender, birth date and a photograph of the seller, a full description of the metal, the purchase price, and the license plate number of the vehicle used to haul the scrap metal.

Currently, scrap yards are prohibited from purchasing metal identified as belonging to a public or private cemetery, political subdivision, electrical cooperative, municipal utility, or other utility. This act expands this prohibition to apply to metal identified as belonging to a telecommunications provider, cable provider, wireless service or other communications-related provider, and water utilities.

Any scrap metal dealer paying out an amount $500 or more shall make the payment by a prenumbered check drawn on a regular bank amount in the name of the scrap metal dealer or by using a system for automated cash or electronic payment distribution. Further, any scrap metal dealer that purchases scrap metal from a seller and pays in the form of cash is required to obtain a copy of the seller's driver's or non-driver's license if the metal is copper or a catalytic converter.

This act extends penalty provisions resulting in the revocation of business licenses from dealers, consequential damages related to obtaining stolen scrap metal, and provisions for multiple violations of this act.

These sections are similar to provisions contained in CCS/SCS/HB 103 (2013), and HB 729 (2013).

DONATED GOODS RECEPTACLES (Section 407.485) - This act requires that for-profit entities specify on the deposited goods receptacle the following: "Deposited items are not for charitable organizations and will be resold for profit. Deposited items are not tax deductable." A violation of this provision shall constitute an unfair business practice.

This act also requires not-for-profit entities to specify on the donation receptacle the following: "This receptacle is owned and operated by (not-for-profit entity) and (% of proceeds donated to the not-for-profit entity) a percent of the proceeds from the sale of any donations shall be used for the charitable mission of (cause)." A violation of this provision shall constitute an unfair business practice.

In addition, all receptacles shall display the name, address, and telephone number of the owner and operator of the receptacle. The owner and operator of the receptacle shall maintain permission to place the receptacle on the property where the receptacle is located. Failure to obtain permission shall constitute an unfair business practice. Unless specified in writing, the property owner may remove the receptacle and bill the charges to the receptacle owner. If the receptacle owner does not pay the charges within 30, they relinquish any right to the receptacle. If the receptacle does not display the name, address, and telephone number of the owner and operator, it shall be considered abandoned.

Any owner and operator of a receptacle that does not display the address of the owner and operator, but does display the website of the owner and operator, shall make the address easily accessible on such website. This subsection shall expire on September 1, 2014.

This section is similar to HB 774 (2013), HCS/SS/SCS/SB 83 (2013), and SB 466 (2013).