55-1502. Equipment dealers; records required; penalties for violations. - Kansas Statutes

55-1502

Chapter 55.--OIL AND GAS Article 15.--REGULATIONS CONCERNING FIELD EQUIPMENT, CRUDE OIL AND RELATED PRODUCTS

      55-1502.   Equipment dealers; records required; penalties for violations.(a) Any dealer who has gross receipts of more than $100,000 from the saleof used oil or gas field equipment in the calendar year shall record, foreach purchase or sale of used oil or gas field equipment by the dealer:

      (1)   The name and address of the person selling the equipment to or buyingthe equipment from the dealer;

      (2)   the date of the transaction;

      (3)   the general location of the equipment at the time of the transaction; and

      (4)   the serial number or other identifying number or mark of each pieceof the equipment purchased or sold and the kind, make, size, weight, lengthand quantity of each piece.

      This subsection shall not apply to the purchase or sale of equipment whichhas a fair market value of less than $50.

      (b)   The record required by this section shall be maintained by the dealerfor not less than one year after the transaction.

      (c)   Law enforcement officers of the federal government, the state of Kansasand of the city or county where a dealer's business is located shall haveaccess during regular business hours to the dealer's place of business.Access shall be for the purpose of periodically inspecting the dealer'sinventory of used oil or gas field equipment and records relating to thepurchase and sale of that equipment, to determine if the dealer is complyingwith the provisions of this act.

      (d)   Failure to maintain the records required by this section or to allowlaw enforcement officers access to a dealer's place of business as providedby this section is a class B misdemeanor.

      History:   L. 1982, ch. 227, § 2; April 22.