§ 563-36. Definitions.

As used in this article, the following terms shall have the meanings indicated:

BOND

An insurance agreement pledging security for payment of any bank draft or other negotiable instrument.

BUSINESS DAY

Any calendar day except Sunday or any County holiday.

COIN

Metal money exchanged for purchase or sale for more than its melt-down value, unless deemed to be an investment in numismatics.

GEM

Articles composed wholly or in part of the following: emerald, diamond, ruby, sapphire, black opal, ruby spinal, citrine, demantoid, bloodstone, jasper, pearl, aquamarine, beryl, topaz, garnet, chrysolite, fire opal, moonstone, rose quartz, tourmaline, carnelian, peridot, sardonyx, zircon, morganite, chrysoprase, kunzite, cat's eye, amethyst, chalcedony, onyx, agate, alexandrite, star sapphire, lapis lazuli, harlequin opal, turquoise, jade, or any other item composed wholly or in part of any gem or stone whose value is in excess of $100.

[Added 5-12-2009 by L.L. No. 18-2009]

PRECIOUS METAL

Gold, silver or platinum or coins, utensils or objects containing one or more of these metals.

PRECIOUS METAL AND GEM EXCHANGE

Persons engaged in the business of a collateral loan broker, as defined in Article 5 of the New York General Business Law, or in the business of sale, purchase, or exchange of precious metals and/or gems for other objects of precious metals or gems, for United States currency, bank drafts or other negotiable instruments as defined in the Uniform Commercial Code.

[Amended 5-12-2009 by L.L. No. 18-2009; 12-6-2011 by L.L. No. 2-2012]

PRECIOUS METAL AND GEM EXCHANGE ESTABLISHMENT

Any shop, store, residence, place or premises from which a precious metal and gem exchange business is conducted.

[Amended 5-12-2009 by L.L. No. 18-2009]

Amended 2-9-1982 by L.L. No. 5-1982; 6-10-2003 by L.L. No. 21-2003