What transaction records relating to the scrap metal are required as of July 1, 2008?
The requirements include transaction records of each purchase by date of purchase, name of seller, the amount paid for the scrap metal and the weight of each kind of scrap metal. A detailed description of the metal being purchased shall also be maintained using the uniform terminology developed by the department. Such entries shall be made in chronological order of sale from day to day, as the business is transacted. (Please note that terminology rules have not yet been promulgated by the Department of Commerce and Insurance.
The requirements include transaction records of each purchase by date of purchase, name of seller, the amount paid for the scrap metal and the weight of each kind of scrap metal. A detailed description of the metal being purchased shall also be maintained using the uniform terminology developed by the department. Such entries shall be made in chronological order of sale from day to day, as the business is transacted.
