H.R.4501 - Guarantee of a Legitimate Deal Act of 2010

To require certain return policies from businesses that purchase precious metals from consumers and solicit such transactions through an Internet website. view all titles (5)

All Bill Titles

  • Short: Guarantee of a Legitimate Deal Act of 2010 as passed house.
  • Short: Guarantee of a Legitimate Deal Act of 2010 as reported to house.
  • Short: Guarantee of a Legitimate Deal Act of 2009 as introduced.
  • Official: To require certain return policies from businesses that purchase precious metals from consumers and solicit such transactions through an Internet website. as introduced.
  • : .

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
01/21/10
 
12/08/10
 
 
 
 
 

 

Latest Vote

Result: Passed - December 08, 2010

Roll call number 620 in the House

Question: On Motion to Suspend the Rules and Pass, as Amended: H R 4501 Guarantee of a Legitimate Deal Act of 2010

 

Official Summary

Guarantee of a Legitimate Deal Act of 2010 - Prohibits any purchaser of precious metals from: (1) selling, transfering to a third party, or refining through melting or otherwise permanently destroying an item of jewelry or precious metal before the purchaser has received an affirmative acce

Official Summary

Guarantee of a Legitimate Deal Act of 2010 - Prohibits any purchaser of precious metals from:
(1) selling, transfering to a third party, or refining through melting or otherwise permanently destroying an item of jewelry or precious metal before the purchaser has received an affirmative acceptance of an offer to purchase the item from the consumer at a specific price;
(2) failing to promptly return any jewelry or other precious metal if the consumer declines the offer; or
(3) failing to adequately insure any return shipment. Exempts a sale or transfer to law enforcement agencies. Deems a violation of this Act as an unfair or deceptive act or practice under the Federal Trade Commission Act.  Gives the Federal Trade Commission (FTC) authority to enforce these provisions. Makes this Act effective 60 days after enactment.

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