§ 18-199. Holding period.

Latest version.

(a)

Each secondhand dealer shall retain possession of any secondhand property purchased by him in an unaltered condition for a period of ten days following the purchase. However, this section may not be construed to limit the right of the secondhand dealer to transfer ownership of the secondhand property prior to the expiration of the required holding period, provided he retains physical possession of the secondhand property for the remainder of the holding period. Further, this section shall not prevent any secondhand dealer from allowing the true owner of an article of secondhand property to redeem, repurchase or recover the article at any time within such ten-day period.

(b)

This section shall not apply to transactions between dealers licensed under section 18-202, provided the articles have been registered in accordance with section 18-198 and held in the possession of the licensee for the requisite ten-day holding period.

(Code 1981, § 16.5-4)

                    
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