Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 25 - SECONDHAND PRECIOUS METALS AND GEM DEALERS AND PAWNBROKERS
Chapter 09.25.01 - Licenses
Section 09.25.01.01 - License Required
Universal Citation: MD Code Reg 09.25.01.01
Current through Register Vol. 51, No. 19, September 20, 2024
A. Individuals engaged in the business of buying, acquiring, or trading commercially with members of the public in secondhand precious metals are required to be licensed as dealers unless specially exempt under Business Regulation Article, §12-102, Annotated Code of Maryland.
B. Each of the following individuals, when engaged in the secondhand precious metals business, shall be licensed as dealers:
(1) In a sole
proprietorship, the owner shall be licensed as a dealer;
(2) In a partnership, each partner shall be
licensed as a dealer;
(3) In a
corporation whose stock is not publicly traded on one of the stock exchanges,
the individual who owns the controlling interest in the corporation shall be
licensed as a dealer;
(4) In a
corporation whose stock is publicly traded, the individual who is the manager
of the shop which deals in secondhand precious metals shall be licensed as a
dealer.
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