(1) Regulated property purchased by any secondhand dealer shall not be sold for a period of 14 full days after the date the report required is received by the city. The secondhand dealer shall maintain the purchased property in substantially the same form as purchased and shall not commingle the property in a manner that precludes identification during this 14-day holding period. The purchased property shall be located on the business premises and available for inspection during normal business hours during this holding period as provided in NBCC 5.12.100.

(2) Upon reasonable belief that the purchased property is the subject of theft, the chief of police may provide notice to any used merchandise dealer not to dispose of any specifically described property purchased. The used merchandise dealer shall retain the property in substantially the same form as purchased. Upon receipt of notice pursuant to this subsection, the used merchandise dealer shall not sell, exchange, dismantle or otherwise dispose of the property for a period of time, as determined and stated in the notice by the chief of police, not to exceed 180 days from the date of purchase. (Ord. 1981, 2012)