Sec. 7.
(1) A dealer or an agent or employee of a dealer who knowingly fails to make an entry of any material matter in his or her records kept as required by section 4 is guilty of a misdemeanor, punishable by imprisonment for not more than 1 year, or a fine of $1,000.00, or both.
(2) A dealer or an agent or employee of a dealer who knowingly violates subsection (1) a subsequent time is guilty of a felony, punishable by imprisonment for not more than 2 years, or a fine of $5,000.00, or both.
History: 1981, Act 95, Eff. Sept. 11, 1981
Structure Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 95 of 1981 - The Precious Metal and Gem Dealer Act (445.481 - 445.492)
Section 445.481 - Short Title.
Section 445.482 - Definitions.
Section 445.485 - Retaining Precious Item for 9 Calendar Days; Alteration.
Section 445.486 - Prohibited Conduct.
Section 445.487 - Failure to Make Entry in Records as Misdemeanor or Felony; Penalty.
Section 445.489 - Conduct Constituting Felony; Penalty.
Section 445.490 - Violation of MCL 445.483(1) or 445.485 as Felony; Penalty.
Section 445.491 - Action Against Dealer; Grounds; Damages, Costs, and Attorneys' Fees.