§ 26-158. Method of payment.

(1)

A Secondary Metals Recycler shall not enter into any singular or aggregate cash transaction(s) of Regulated Metals, in excess of $1,000.00 from any Seller in any given day.

(2)

A Secondary Metals Recycler shall not enter into any cash transaction for the purchase of any Restricted Regulated Metals.

(3)

Payment in the excess of $1,000.00 for the purchase of Regulated Metals or payment in any amount for the purchase of Restricted Regulated Metals shall be made by check issued and payable to the Seller or by electronic payment to the Seller's or Seller's employer's bank account.

(4)

Each check for payment for Restricted Regulated Metals shall be mailed by the Secondary Metals Recycler directly to the current street address of the Seller or Seller's employer as provided by the Seller at the time of the Transaction. No payments shall be mailed to any post office box. Electronic payments shall be sent to a bank account for which the Seller is listed as an account holder or an employee or agent thereof.

(5)

Each check for payment for Restricted Regulated Metals shall be mailed, or electronic payment transferred, by the Secondary Metals Recycler to the Seller within three business days of the Transaction. However, the Secondary Metals Recycler may provide a check at the time of the Transaction, rather than mailing the check, if the check is made payable to a Seller who is in one of the following exempt categories:

(a)

Organizations, corporations, or associations registered with the state as charitable, philanthropic, religious, fraternal, civic, social, school-sponsored organizations or associations or from any nonprofit corporation;

(b)

A trustee in bankruptcy, executor, administrator, or receiver who has presented proof of such status to the Secondary Metals Recycler;

(c)

Any public official acting under judicial process or authority who has presented proof of such status to the Secondary Metals Recycler;

(d)

A sale on the execution, or by virtue of any process issued by a court, if proof thereof has been presented to the Secondary Metals Recycler; or

(e)

A manufacturing, industrial, or other commercial vendor that generates regulated materials in the ordinary course of business and who has presented proof of such status to the Secondary Metals Recycler.

(Ord. No. 2011-072, § 10, 12-13-2011)