Rible Bill to Help Prevent Theft in the Scrap Metal Business Signed into Law

January 28, 2009

Contact: Tara Fantini / (732) 974-0400
Assemblyman Dave Rible (R-11)

Law Will Require Scrap Metal Buyers to Keep Detailed Records

A measure sponsored by Assemblyman Dave Rible to reduce theft by establishing new requirements concerning the purchasing and selling of scrap metals has been signed into law.

While there is no previous laws to regulate the scrap metal business, there are regulations in place for buyers of precious metals. Anyone who purchases precious metals from a person who is not in the precious metal business must obtain their contact information and keep a detailed record of their purchase for a minimum of one year.

“This legislation will extend the requirements for purchasing precious metals to the scrap metal industry to help prevent theft,” said Rible.

The bill, A-2706, requires operators of scrap metal businesses to maintain similar records of all scrap metal receipts and purchases for five years. They will also be required to report any suspicious activities to law enforcement authorities.

“These requirements will help to promote better business practices in the scrap metal industry,” said Rible. “This law will also help law enforcement to assist business owners in recovering any stolen property.”

In addition, the bill will authorize State, county and municipal police departments to notify scrap metal businesses of any recent thefts of scrap metal and provide them with the necessary information to help identify the stolen materials. Violations of any of these requirements are considered a fourth degree crime that is punishable by up to 18 months in prison, a $10,000 fine, or both.

Link to Post:

http://www.senatenj.com/index.php/rible/rible-bill-to-help-prevent-theft-in-the-scrap-metal-business-signed-into-law/2358