Conditions and limitations on payments for regulated metal property; exception for transaction between business entities

(a) A secondary metals recycler shall pay only by check, electronic funds transfer, cash, or voucher for regulated metal property and shall make any such payment as specifically provided for in this Code section. (b) Any check, electronic funds transfer, or voucher shall be payable only to the person recorded as the seller of the regulated metal property to the secondary metals recycler. (c) Any voucher shall be provided to the seller at the time of the purchase transaction or mailed to the seller at the address indicated on the personal identification card of the seller presented at the time of such transaction. If the voucher is provided to the seller at the time of the purchase transaction and not mailed to the seller, the secondary metals recycler shall not redeem the voucher for three days from the date of the purchase transaction. The voucher shall include the date of purchase, name of the seller, the amount paid for the regulated metal property, a detailed description of the regulated metal property purchased, information as to whether the voucher was mailed or provided at the time of the purchase transaction, the first date on which the voucher may be redeemed, and the date on which the voucher expires. The voucher may only be redeemed for cash by the person whose name appears on the voucher as the seller or by such person’s heirs or legal representative. If a voucher is not redeemed by the person whose name appears on the voucher as the seller or by such person’s heirs or legal representative within six months of the date of the transaction, the voucher shall expire and the secondary metals recycler shall not be required to honor the voucher after the expiration date. (d) A secondary metals recycler shall be prohibited from: (1) redeeming or cashing any check or electronic funds transfer paid to a seller for regulated metal property; and (2) providing or permitting any mechanism on the premises of the secondary metals recycler for the redemption or cashing of any check or electronic funds transfer. (e) The provisions of this Code section shall not apply to any transaction between business entities. History. Code 1981, § 10-1-352.1, enacted by Ga. L. 2009, p. 731, § 3/SB 82; Code 1981, § 10-1-355, as redesignated by Ga. L. 2012, p. 112, § 1-1/HB 872; Ga. L. 2023, p. 71, § 1-4/SB 60, effective January 1, 2024; Ga. L. 2023, p. 71, § 2-1/SB 60, effective January 1, 2026. Delayed effective date. Code Section 10-1-355 is set out twice in this Code. This version is effective January 1, 2026. For version effective until January 1, 2026, see the preceding version. Amendments. The first 2023 amendment, effective January 1, 2024, in subsection (a), inserted “cash” following “transfer” and added “and shall make any such payment as specifically provided for in this Code section” at the end; added subsection (d); redesignated former subsections (d) and (e) as present subsections (e) and (f); and, in present subsection (f), inserted “, other than a transaction related to used, detached catalytic converters,”. The second 2023 amendment, effective January 1, 2026, deleted subsection (d), which read: “No secondary metals recycler shall: “(1) Pay to any seller more than $100.00 in cash for any transaction or complete more than two transactions per seller, per day, per registered secondary metals recycler location; “(2) Pay cash to any seller for used, detached catalytic converters or coils; “(3) Pay cash to any seller for used utility wire; “(4) Pay cash to any seller for used communications copper; “(5) Pay cash to any seller for copper wire; or “(6) Pay cash to any seller for a battery.”; redesignated former subsections (e) and (f) as present subsections (d) and (e); and, in present subsection (e), deleted “, other than a transaction related to used, detached catalytic converters,” following “any transaction”. See Editor’s notes for applicability.