Number
110384
Version
SUBSTITUTE 3
Reference
Sponsor
ALD. DAVIS
Title
A substitute ordinance relating to regulation of precious metal and gem dealers.
Sections
92-10-1-c am
92-10-2 rc
92-10-3-e rn
92-10-3-e cr
92-10-5-a am
92-10-5-d rn
92-10-5-d cr
92-10-5-e rn
92-10-5-e cr
92-10-6-c am
92-10-6-j cr
92-10-8 am
Analysis
This ordinance requires a precious metal and gem dealer licensed by the city to maintain a fixed place of business in the city at which all records of transactions conducted within the city are kept. Factors relating to the suitability of the business premises may be considered in decisions to authorize issuance of a new license and in decisions to renew, suspend or revoke a license.
The ordinance includes the same exceptions as s. 134.71, Wis. Stats., regulating secondhand article and jewelry dealers.
The ordinance clarifies procedures for application for and, renewal, suspension and revocation of, a precious metal and gem dealer license.
The ordinance also requires that an application include a plan of operation which requires disclosure of the following:
1. The principal location of the applicant's business within the city at which all required records are kept and available for inspection.
2. The location or locations at which the applicant will conduct business as a precious metal and gem dealer within the city; and
3. If transactions involving the sale, purchase or exchange of precious metals or gems are conducted at locations in addition to the identified business premises, a description of the manner in which such transactions will be conducted including whether transactions will occur at temporary locations, door-to-door or otherwise.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 92-10-1-c of the code is amended to read:
92-10. Precious Metal and Gem Dealer’s License. 1. DEFINITIONS.
c. "Precious metal and gem dealer" means any person, corporation, p...
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