§1864.3. Payment by check for copper, aluminum-copper air conditioning coils, or other
metals required; check cashing prohibited; penalties
A.(1) A secondhand dealer shall not enter into any cash transactions in payment for
the purchase of copper or aluminum-copper air conditioning coils. Payment for copper or
aluminum-copper air conditioning coils shall be made in the form of a check made payable
to the seller of the copper or aluminum-copper air conditioning coils and mailed to the
address recorded on the photo identification of the seller no earlier than five business days
after the date of the transaction.
(2) A secondhand dealer shall not enter into any cash transactions in excess of three
hundred dollars in payment for the purchase of metal property other than copper, aluminum-copper air conditioning coils, or a precious metal object. Payments in excess of three
hundred dollars for metals other than copper, aluminum-copper air conditioning coils, or a
precious metal object shall be made in the form of a check made payable to the name and
address of the seller and may be tendered to the seller at the time of the transaction. The
secondhand dealer, at his discretion, may make payment by either cash or other method for
transactions of three hundred dollars or less for all metals other than copper or aluminum-copper air conditioning coils, or a precious metal object.
B. All payments made by check shall be reported separately in the daily reports
required by R.S. 37:1866.
C.(1) No secondhand dealer shall allow a seller to engage in multiple transactions
within a twenty-four hour period totaling more than three hundred dollars for the purpose of
circumventing this Section.
(2) No secondhand dealer shall cash, offer to cash, or provide the means for
exchanging for cash a check issued to a seller pursuant to this Section on the premises of the
secondhand dealer's place of business, including but not limited to the use of an automatic
teller machine.
D. Violations of this Section shall be subject to the penalties provided for in R.S.
37:1869 and 1870.
Acts 2011, No. 389, §1; Acts 2012, No. 292, §1; Acts 2012, No. 827, §1, eff. June
14, 2012; Acts 2013, No. 381, §1; Acts 2014, No. 243, §1; Acts 2019, No. 255, §1.