§ 43.91. Same—Recyclers; Limitations on Cash Transactions.

(1)

A secondary metals recycler shall not enter into any cash transaction for purchase of regulated metals property listed in Section 43.92(1) of this Code.

(2)

Payment by a secondary metals recycler for the purchase of regulated metals property listed in Section 43.92 (1) of this Code shall be made by check issued to the seller of the metal and payable to the seller or by electronic payment to the seller's or employee of the seller's bank account.

(3)

Each check for payment shall be mailed by the secondary metals recycler directly to the current street address of the seller which is on file with the secondary metals recycler. Payment shall not be mailed to a post office box. Electronic payments shall be sent to an account for which the seller is listed as an account holder or an employee or agent thereof.

(4)

Each check or electronic payment shall be mailed or electronically transferred by the secondary metals recycler to the seller within three (3) days of the purchase transaction.

(Ord. No. 2010-19, § 1, 8-30-2010, Doc. #1008301110; Ord. No. 2011-4, § 1, 1-24-2011, Doc. #1101241102)