407.303. Scrap metal dealers--payments in excess of $500 to be made by check--exceptions. - Missouri Statutes

Scrap metal dealers--payments in excess of $500 to be made bycheck--exceptions.

407.303. 1. Any scrap metal dealer paying out an amount that is fivehundred dollars or more shall make such payment in the form of a check orshall pay by any method in which a financial institution makes and retainsa record of the transaction.

2. This section shall not apply to any transaction for which theseller has an existing business relationship with the scrap metal dealerand is known to the scrap metal dealer making the purchase to be anestablished business or political subdivision that operates a business witha fixed location that can be reasonably expected to generate regulatedscrap metal and can be reasonably identified as such a business.

(L. 2008 S.B. 1034 & 802)