§ 5.16.080. Holding periods.

A.

A copy of every purchase report form filled out as required by this article shall be kept on the premises of the secondhand dealer or secondhand collector business during normal business hours for at least three years from the date of purchase. The report form shall be subject to inspection by the police chief.

B.

All regulated property in the categories of precious metals or precious gems, as the same are defined in section 5.16.010, purchased by a secondhand dealer or secondhand collector and required to be recorded on a purchase report form shall be held by said secondhand dealer or secondhand collector for fifteen days from the date of purchase. All other regulated property as defined in the section 5.16.010, purchased by a secondhand dealer or secondhand collector and required to be recorded on a purchase report form shall be held by said secondhand dealer or secondhand collector for at least twenty-one days from the date of purchase. The secondhand dealer or secondhand collector shall maintain the property in substantially the same form as when purchased and shall not alter, exchange, or commingle the property. During the holding period the regulated property shall be kept on the business premises during normal business hours and shall be subject to inspection by the police chief.

C.

The police chief may give written notice to a secondhand dealer or secondhand collector holding regulated properly that the police chief has reasonable grounds to believe more likely than not a specific item of regulated property is associated with criminal conduct. The secondhand dealer or secondhand collector holding the regulated property shall then continue to hold the property specified in the notice in the same manner and place as required under subsection (b) of this section until released by the police chief.

D.

The holding period for any item of regulated property shall not exceed one hundred and eighty days from the date of purchase.

E.

If unreasonable hardship will result from holding regulated property as required under this section, the secondhand dealer or secondhand collector may request in writing that the police chief shorten the length of the holding period. The request should identify the property to which the request relates and state the reason extreme hardship will result if the holding period is not shortened. The police chief may grant a request to shorten the length of the holding period if the secondhand dealer or secondhand collector establishes clear and convincing grounds to believe that undue hardship will occur if the request is not granted. If the police chief decides relief from the holding period is appropriate, the police chief shall provide the secondhand dealer or secondhand collector who requested relief with written authorization to sell, transfer or otherwise dispose of the regulated property. The authorization shall be effective only upon delivery of the written authorization to the secondhand dealer.

(C.O. 11-348, § 1, 12-19-2011)