2016 Indiana Code TITLE 24. TRADE REGULATION ARTICLE 4. REGULATED BUSINESSES CHAPTER 20. FOREIGN SELLERS OF PRECIOUS METALS BULLION AND CURRENCY
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IC 24-4-20
Chapter 20. Foreign Sellers of Precious Metals Bullion and
Currency
IC 24-4-20-1
Definitions
Sec. 1. The following definitions apply throughout this chapter:
(1) "Currency" means a coin made of gold, silver, or other metal
or paper money that is or has been used as legal tender.
(2) "Foreign entity" means:
(A) if the person is a sole proprietor, an individual who does
not reside in Indiana; or
(B) if the person is not a sole proprietor, a person who is not
authorized under the laws of Indiana.
(3) "Person" means a sole proprietor, a partnership, a
corporation, a limited liability company, or other business
entity.
(4) "Precious metals bullion" means bars, ingots, or
commemorative medallions of gold, silver, platinum, palladium,
or a combination of these materials for which the value of the
metal depends on its content and not its form.
(5) "Secretary" refers to the secretary of state.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-2
Temporary registration issuance
Sec. 2. The secretary may issue a temporary registration in
accordance with this chapter to a foreign entity that:
(1) wishes to sell precious metals bullion or currency at a trade
fair or coin show in Indiana;
(2) is not otherwise lawfully authorized to conduct business in
Indiana; and
(3) complies with requirements of this chapter.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-3
Temporary registration expiration
Sec. 3. A registration issued under this chapter expires not later
than twenty-eight (28) days after the date on which the registration
is issued.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-4
Requirements for a temporary registration
Sec. 4. A foreign entity that wishes to obtain a temporary
registration to sell precious metals bullion or currency at a trade fair
or coin show in Indiana under this chapter must do the following:
(1) Submit an application to the secretary in the form and the
Indiana Code 2016
manner prescribed by the secretary.
(2) Pay a fee of thirty-five dollars ($35) to the secretary.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-5
Contract requirements
Sec. 5. A foreign entity registered under this chapter is entitled to
sell precious metals bullion and currency at a trade fair or coin show
in Indiana during the term of the registration if the contract:
(1) is for the purchase of precious metal bullion or currency;
(2) requires physical delivery of the quantity of the precious
metals bullion or currency purchased not later than twenty-eight
(28) calendar days after payment in full of the purchase price;
and
(3) provides for the purchaser to receive physical delivery of the
quantity of precious metals bullion or currency purchased not
later than twenty-eight (28) calendar days after payment in full
of the purchase price.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-6
Foreign entity requirements
Sec. 6. A foreign entity may not sell precious metals bullion or
currency at a trade fair or coin show in Indiana unless the foreign
entity:
(1) registers with the secretary of state under this chapter; or
(2) is otherwise authorized to conduct business in Indiana.
As added by P.L.195-2016, SEC.2.
IC 24-4-20-7
Fees
Sec. 7. Fees collected under this chapter shall be deposited in the
electronic and enhanced access fund established by IC 4-5-10-5.
As added by P.L.195-2016, SEC.2.
Indiana Code 2016
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