Bill > S06444

This bill provides comprehensive updates to the recordkeeping requirements for second-hand dealers and pawnbrokers in New York State, transitioning from traditional paper-based record-keeping to electronic record-keeping. The legislation mandates that dealers in second-hand articles involving precious metals, used electrical appliances, electronic equipment, and mobile phones must create and maintain detailed electronic records for each transaction. These records must include transaction date and time, staff conducting the transaction, detailed personal information of the seller (including identification details and a digital photograph), and a comprehensive description of the item being sold, including digital photographs. The electronic records must be retained for at least six years and will be accessible to law enforcement, state officials, and authorized personnel for verification purposes. Pawnbrokers are subject to similar requirements, with additional specifics about loan information and pledged items. The bill allows for internet-based business operations and specifies that these records can be shared electronically with the New York State Secretary of State. Violations of these requirements can result in fines ranging from $25 to $500, potential imprisonment, and civil penalties. The law will take effect 180 days after its passage, giving businesses time to adapt to the new electronic reporting standards.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S6444