What's happening
This bill requires businesses buying silver, gold, or platinum to prominently display current prices for these metals.
Why it matters
Promotes price transparency. By requiring businesses to post current silver, gold, and platinum prices, the bill helps consumers make more informed decisions and compare offers more easily when selling or buying these metals.
Reduces risk of unfair practices. Prominently displayed prices can help deter dishonest pricing or misleading information, offering greater protection against potential scams, especially for individuals unfamiliar with precious metal markets.
Supports trust in precious metals transactions. The requirement may boost consumer confidence in businesses buying and selling precious metals, encouraging legitimate commerce and potentially increasing participation in these markets.
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Who cares
Headline styles
Display Precious Metal Prices
Plain English, a few words. Used as the page title.
Sponsors
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History
- Referred to consumer affairs and protection
- Referred to consumer affairs and protection
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2610
2019-2020 Regular Sessions
IN ASSEMBLY
January 24, 2019
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Consumer Affairs and Protection
AN ACT to amend the general business law, in relation to requiring businesses that purchase silver, gold and platinum to display current silver, gold and platinum prices
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The general business law is amended by adding a new section 391-u to read as follows:
§ 391-u. Silver, gold and platinum prices displayed. Any business that deals in the purchase of silver, gold and platinum for the purpose of resale, melting or refining shall display a sign with the current prices listed for silver, gold and platinum in a prominent or conspicuous location within the business establishment.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04758-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.