Current through Register Vol. 54, No. 49, December 7, 2024
Section 501.11 - Penalties(a) The purchase of an item of precious metal by an unlicensed dealer in precious metals shall constitute a violation of the act, and the dealer shall be guilty of a misdemeanor of the third degree.(b) A licensed dealer in precious metals who violates the act shall be guilty of a misdemeanor of the third degree.(c) An individual, partnership, association, corporation or business entity violating the act shall, upon conviction, in addition to the penalties set forth in subsections (a) and (b), suffer immediate revocation of an existing license issued under the act and be ineligible to apply for a dealer's license under the act for 5 years thereafter.