Secondhand Precious Metal Object Dealers - Temporary Event-Based Dealer Limited License - Establishment
HB1191 creates a new “limited license” for temporary event-based dealers in secondhand precious metal objects. Under the bill, a person who does not maintain a fixed business address in Maryland may apply to the Secretary of Labor for this license, pay a $300 nonrefundable application fee, and operate only at the fixed business addresses of existing licensed dealers identified in the application. The bill defines a temporary event-based dealer as someone who buys or trades in secondhand precious metal objects at discrete, limited-duration events held at one or more locations that are not the dealer’s permanent place of business.
The bill also updates the precious metals dealer licensing law to treat limited licensees much like regular dealers for purposes of recordkeeping, advertising, display of license, law-enforcement access, renewal, discipline, and subpoenas. It requires limited licensees to keep records, submit transaction information to law enforcement, comply with holding-period rules, and allow inspections of business and storage locations. The Secretary may issue, renew, transfer, suspend, revoke, or penalize limited licenses under the same general enforcement framework that applies to existing dealer licenses. The act takes effect July 1, 2026.
HB1191 amends Title 12 of the Business Regulation Article to add a new licensing category and to revise multiple existing provisions so they apply to both standard dealer licenses and the new limited license. It expands the definition of “dealer,” adds definitions for “limited license” and “temporary event-based dealer,” and authorizes the Secretary of Labor to license and regulate these temporary operators. The bill also modifies enforcement and compliance provisions so limited licensees are subject to the same inspection, record retention, reporting, and penalty rules as other secondhand precious metal object dealers.
The bill appears to have broad support in the House, where it received a favorable committee report with amendments and passed third reading 122-2 after a committee amendment was adopted unanimously. The near-unanimous votes suggest general agreement with creating a regulated pathway for temporary event-based dealers while preserving law-enforcement oversight. No committee transcript was provided, so the available record shows support but not detailed floor or committee debate.
The main policy issue appears to be balancing business flexibility with anti-theft and consumer-protection safeguards. Supporters likely favor allowing itinerant or event-based precious metals dealers to operate legally without a fixed Maryland business address, while opponents or cautious lawmakers may have concerns about theft, traceability, and enforcement at temporary events. The bill addresses those concerns by requiring law-enforcement access, record submission, storage-location disclosure, and the same disciplinary tools used for regular dealers.