Title 17 — Professions, Occupations, and Businesses
83 chapters · 2,038 sections in this title.
Ark. Code Ann. § 17-23-101 Definitions
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(1) As used in this chapter:(1) (A) “Dealer” means a person, corporation, partnership, or other entity that engages in the business of purchasing precious metals or precious items, or both, for the purpose of reselling the items in any form.(B) “Dealer” does not include a person,…
Ark. Code Ann. § 17-23-102 Exemptions
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(1) The provisions of this chapter shall not apply to the following:(1) Transactions involving the sale or transfer of precious metals by a wholesale jeweler to a retail jeweler or licensed dealer;(2) Transactions involving coins regardless of whether or not such coins contain pr…
Ark. Code Ann. § 17-23-103 Penalties
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(a) If the value of the property involved in a transaction is five hundred dollars ($500) or less, a person who violates this chapter is guilty of a Class A misdemeanor. (b) If the value of the property involved in a transaction is greater than five hundred dollars ($500), a pers…
Ark. Code Ann. § 17-23-104 Civil liability
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(a) Any person who has been damaged or injured by the failure of a person required to be licensed under this chapter to comply with the provisions of this chapter may recover the actual damages sustained. (b) The court in its discretion may also award punitive damages and the cos…
Ark. Code Ann. § 17-23-201 Registration required
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(a) A person shall not engage in the business of purchasing precious metals or precious items from the general public for the purpose of reselling the precious metals or precious items in any condition without first registering with the local law enforcement agency in the jurisdi…
Ark. Code Ann. § 17-23-202 Registration
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(a) (1) A dealer shall register with local law enforcement in writing and on the form prescribed by the local law enforcement agency at least twenty-four (24) hours before conducting business in that jurisdiction.(2) The registration shall include:(A) (i) The name of the registra…
Ark. Code Ann. § 17-23-203 Seller identification
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(a) A dealer required to register under this chapter shall require the following from each seller of precious metals or precious items:(1) Proof of identification in the form of a valid driver's license, identification card, armed services identification card, or other valid phot…
Ark. Code Ann. § 17-23-204 Melt-down bullion
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When a proposed transaction involves the buying of precious metal bulk bullion which appears to have been the result of a melt-down of a former article containing a precious metal, the buyer must first inquire as to what was the source of the item before the melt-down and must no…
Ark. Code Ann. § 17-23-205 Disclosures
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Every person required to be licensed under this chapter shall inform the prospective seller of the price per ounce currently being paid for the particular precious metal offered by the prospective seller, and the precious metals shall be weighed in full sight of the prospective s…
Ark. Code Ann. § 17-23-206 Records
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(a) Every person registered under this chapter shall keep a record book containing a comprehensive record of all transactions concerning precious metals or precious items. (b) The record shall include:(1) The name, address, and telephone number of the seller;(2) The date of birth…
Ark. Code Ann. § 17-23-207 Holding periods
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(a) All persons registered under this chapter shall retain possession of precious metals or precious items in an unaltered condition for fifteen (15) business days after delivering the list to the chief law enforcement officer of the city or town or sheriff of the county as requi…
Ark. Code Ann. § 17-23-208 [Repealed.]
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A.C.A. § 17-23-208Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved