HomeMy Public PortalAbout1981_03_25_O008ORDINANCE NO.
AN ORDINANCE:
TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTED March 25, 1981
81-0-8 ADOPTED March 25, 1981
ADDING A NEW ARTICLE TO THE TOWN CODE REGARDING
PRECIOUS METALS DEALERS
WHEREAS, the 1981 session of the Virginia General Assembly
adopted legislation establishing mandatory regulation of precious
metals dealers in the Commonwealth.
THEREFORE, ORDAINED by the Council of the Town of Leesburg
in Virginia as follows:
SECTION I. The Town Code is amended by adding a new article
to Chapter 11, to be numbered Article IV, which shall read as follows:
Article IV. Precious Metals Dealers
SeC. 11-71. Adoption of State Law
Ail of the provisions and requirements contained in
Chapter 23.2 of Title 54 of the Code of Virginia, as
amended, are adopted and made a part of this Article as
fully as though set out herein, and are hereby made applicable
within the town. It shall be unlawful for any person, within
the town to violate or fail, neglect or refuse to comply with
any Section of the Code of Virginia which is adopted by this
Section.
Sec. 11-72. Permit and Bond Required
No person shall engage in the activities of a precious
metals dealer as defined in Section 54-859.2 of the Code of
Virginia without first obtaining an annual permit including
payment of a $200 application fee from the Chief of Police.
The procedures for obtaining a permit shall be as set out in
Section 54-859.23 of the Code of Virginia. Before a permit
is issued, the dealer shall enter into a recognizance to the
town secured by a corporate surety authorized to do business
in the Commonwealth, in the penal sum of $10,000 conditioned
upon due observance of the terms of this article. In lieu of
a bond, a dealer may cause to be issued by a bank authorized
to do business in the Commonwealth a letter of credit in favor
of the town in the sum of $10,000.
-2-
Sec. 11-73. Coins Exempt
The provisions of this Article shall not apply to the
sale or purchase of coins.
Sec. 11-74. Waivers for Temporary Shows.
The Chief of Police may waive, by written notice, imple-
mentation of any one or more of the provisions of this Article
except the provision which prohibits dealers from purchasing
precious metals or gems from any seller who is under the age
of 18, for particular numismatic, gem, antique exhibitions or
craft shows sponsored by non-profit organizations, provided that
the purpose of the exhibitions is non-profit in nature,
notwithstanding the fact that there may be casual purchases
and trades made at such exhibitions.
SECTION II. This ordinance shall be in full force and effect
from and after July 1, 1981.
PASSED this 25th
day of March , 1981.
, Mayor
Town of Leesburg
ATTEST:
Clerk ~Council