1301:8-5-07 Purchases; list of property held for sale.

(A) No owner, officer, member, partner, stockholder, agent, or employee of a licensee shall purchase personal property in circumvention of the record-keeping requirements of Chapter 4727. of the Revised Code.

(B) A licensee shall document the acquisition of all property held for sale on the licensed premises through a pawn ticket, purchase ticket, sales receipt, bill of sale, consignment agreement, or barter agreement. Consignment or barter agreements shall include the information listed in division (B) of section 4727.08 of the Revised Code. All documentation shall be kept at the licensed location at all times and shall be available for inspection by the superintendent of financial institutions and by the chief of police of the municipal corporation or township in which the licensee’s place of business is located, or, if the place of business is not located within a municipal corporation or a township that has a chief of police, by the sheriff of the county in which the place of business is located. Upon demand of any of them, the licensee shall produce and show the documentation.

Effective: 06/16/2005

R.C. 119.032 review dates: 11/15/2009

Promulgated Under: 119.03

Statutory Authority: 4727.13

Rule Amplifies: 4727.08