Ohio Revised Code
Chapter 4728 | Precious Metals Dealers
Section 4728.09 | Retention Period - Stolen Property.

Effective: July 22, 1994
Latest Legislation: House Bill 376 - 120th General Assembly
(A) A person licensed under Chapter 4728. of the Revised Code shall retain in this state any articles purchased by him until the expiration of five days after the date of purchase.
(B) If the chief or head of the local police department to whom the licensee made available the information required by this chapter has probable cause to believe that the article described therein is stolen property, he shall notify the licensee in writing. Upon receipt of notice, the licensee shall retain the article until the expiration of thirty days after the day on which he is first required to make available the information required by this section, unless the chief or the head of the local police department notifies the licensee in writing that he is not required to retain the article until the expiration.
(C) If the chief or the head of the local police department determines the identity of the true owner of the allegedly stolen article, that has been purchased and held by a licensee, and informs the licensee of the true owner's identity:
(1) The licensee may restore the allegedly stolen article to its true owner directly.
(2) The true owner may reimburse the licensee for the amount the licensee paid for the allegedly stolen article.
(3) The true owner may recover the article and reasonable attorney fees from the licensee in an action at law.
(D) If it is determined that the true owner of the allegedly stolen article, for whatever reason, chooses not to file a charge against the person or persons responsible for the theft, the licensee may charge the true owner of the allegedly stolen article the amount the licensee paid for the allegedly stolen article.

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