{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-1531","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-1531","heading":"Certain goods to be kept by dealer - Stolen or embezzled","body":"property - Time period - Procedure.\n\nA. Every dealer must keep at the business location designated\n\nin the license application, all used articles made, in whole or in\n\npart, of precious metals or gems, for inspection by any law\n\nenforcement officer and the Department of Consumer Credit at\n\nreasonable times for a period of ten (10) days or until the articles\n\nhave been released by written authorization of any law enforcement\n\nofficer authorized by the law enforcement agency or its designee,\n\nexcept as provided for in subsection C of Section 1525 of this\n\ntitle. During this period, the appearance of such articles shall\n\nnot be altered in any way. A dealer is not prohibited from selling\n\nor arranging to sell such articles during the ten-day period as long\n\nas such articles remain in his or her possession as required by this\n\nsection.\n\nB. Whenever a peace officer has probable cause to believe that\n\nproperty in possession of a licensed dealer is stolen or embezzled,\n\nthe peace officer of the local law enforcement agency of the\n\nmunicipality or other political subdivision in which the dealer is\n\nlocated may place a written hold order on the property. The initial\n\nterm of the written hold order shall not exceed thirty (30) days.\n\nHowever, the holding period may be extended in successive thirty-day\n\nincrements upon written notification prior to the expiration of the\n\ninitial holding period. If the holding period has expired and has\n\nnot been extended, the hold order shall be considered expired and no\n\nlonger in effect, and title shall vest in the dealer subject to any\n\nrestrictions contained in a sale contract. The initial written hold\n\norder shall contain the following information:\n\n1. Signature of the dealer or designee;\n\n2. Name, title and identification number of the peace officer\n\nplacing the hold order;\n\n3. Name and address of the agency to which the peace officer is\n\nattached and the offense number;\n\n4. Complete description of the property to be held, including\n\nmodel number, serial number and transaction number;\n\n5. Name of agency reporting the property stolen or embezzled;\n\n6. Mailing address of the dealer where the property is held;\n\nand\n\n7. Expiration date of the holding period.\n\nC. While a hold order is in effect, the dealer may consent\n\nto release, upon written receipt, the stolen or embezzled\n\nproperty to the custody of the local law enforcement\n\nagency to which the peace officer placing the hold order is\n\nattached. The consent to release the stolen or embezzled\n\nproperty to the custody of law enforcement is not a\n\nwaiver or release of the dealer's property rights or\n\ninterest in the property. Otherwise, the dealer shall not\n\nrelease or dispose of the property except pursuant to a\n\ncourt order or the expiration of the holding period\n\nincluding all extensions. The district attorney's office\n\nshall notify the dealer in writing in cases where criminal\n\ncharges have been filed that the property may be needed\n\nas evidence. The notice shall contain the case number, the\n\nstyle of the case and a description of the property. The\n\ndealer shall hold such property until receiving notice of\n\nthe disposition of the case from the district attorney's\n\noffice. The district attorney's office shall notify the dealer\n\nin writing within fifteen (15) days of the disposition of the\n\ncase. Willful noncompliance of a dealer to a written hold\n\norder shall be cause for the dealer's license to either be\n\nsuspended or revoked. A hold order may be released\n\nprior to the expiration of any thirty-day holding period by\n\nwritten release from the agency placing the initial hold\n\norder.\n\nD. Upon approval of the Administrator, a dealer may also\n\ndesignate an additional location for storage of items required to be\n\nheld under the provisions of the Precious Metal and Gem Dealer\ndealer's license to either be\n\nsuspended or revoked. A hold order may be released\n\nprior to the expiration of any thirty-day holding period by\n\nwritten release from the agency placing the initial hold\n\norder.\n\nD. Upon approval of the Administrator, a dealer may also\n\ndesignate an additional location for storage of items required to be\n\nheld under the provisions of the Precious Metal and Gem Dealer\n\nIndustry Act. This location shall be either a vault or a bank. The\n\naddress of the designated additional location shall be filed with\n\nthe Administrator. The Administrator shall require documentation to\n\nverify that the additional storage location will be utilized by the\n\ndealer, including, but not limited to, a lease or rental agreement\n\nbetween the dealer and the owner of the additional storage location.\n\nThe Administrator shall also require the name, contact person and\n\ntelephone number of the additional storage location. The\n\nAdministrator shall release the designated location only to law\n\nenforcement agencies. The designated additional location shall be\n\navailable for inspection by the Department of Consumer Credit or any\n\nlaw enforcement officer of this state authorized by the law\n\nenforcement agency to inspect the same. A dealer shall provide\n\nwritten notice to the Administrator at least thirty (30) days prior\n\nto terminating a lease or rental agreement for an additional storage\n\nlocation.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6283bfb3fd848aee002f162bfe7d6f8b02c96c462b6014ca5dce3d78e0de272d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-1530","next":"us-ok/okla.-stat.-tit.-59-59-1532"},"notice":"GroundRules: Original legal text. Not legal advice."}