Section 360.700  Definitions

As stated in Section 15(a) of the Act and for purposes of this Subpart:

"Temporary buying location" means a location used by an unregistered buyer, including, but not limited to, hotels and motels.

"Unregistered buyer" means an individual business, or an agent of an individual business, engaged in the business of purchasing from the public, scrap precious metals, including, but not limited to, jewelry, precious stones, semi-precious stones, coins, silver, gold, and platinum, that conducts transactions at a temporary buying location but is not registered under the Act.

(Source:  Added at 35 Ill. Reg. 14957, effective September 9, 2011)