Okla. Stat. tit. 59, § 59-1531

property - Time period - Procedure.

A. Every dealer must keep at the business location designated

in the license application, all used articles made, in whole or in

part, of precious metals or gems, for inspection by any law

enforcement officer and the Department of Consumer Credit at

reasonable times for a period of ten (10) days or until the articles

have been released by written authorization of any law enforcement

officer authorized by the law enforcement agency or its designee,

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except as provided for in subsection C of Section 1525 of this

title. During this period, the appearance of such articles shall

not be altered in any way. A dealer is not prohibited from selling

or arranging to sell such articles during the ten-day period as long

as such articles remain in his or her possession as required by this

section.

B. Whenever a peace officer has probable cause to believe that

property in possession of a licensed dealer is stolen or embezzled,

the peace officer of the local law enforcement agency of the

municipality or other political subdivision in which the dealer is

located may place a written hold order on the property. The initial

term of the written hold order shall not exceed thirty (30) days.

However, the holding period may be extended in successive thirty-day

increments upon written notification prior to the expiration of the

initial holding period. If the holding period has expired and has

not been extended, the hold order shall be considered expired and no

longer in effect, and title shall vest in the dealer subject to any

restrictions contained in a sale contract. The initial written hold

order shall contain the following information:

1. Signature of the dealer or designee;

2. Name, title and identification number of the peace officer

placing the hold order;

3. Name and address of the agency to which the peace officer is

attached and the offense number;

4. Complete description of the property to be held, including

model number, serial number and transaction number;

5. Name of agency reporting the property stolen or embezzled;

6. Mailing address of the dealer where the property is held;

and

7. Expiration date of the holding period.

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C. While a hold order is in effect, the dealer may consent

to release, upon written receipt, the stolen or embezzled

property to the custody of the local law enforcement

agency to which the peace officer placing the hold order is

attached. The consent to release the stolen or embezzled

property to the custody of law enforcement is not a

waiver or release of the dealer's property rights or

interest in the property. Otherwise, the dealer shall not

release or dispose of the property except pursuant to a

court order or the expiration of the holding period

including all extensions. The district attorney's office

shall notify the dealer in writing in cases where criminal

charges have been filed that the property may be needed

as evidence. The notice shall contain the case number, the

style of the case and a description of the property. The

dealer shall hold such property until receiving notice of

the disposition of the case from the district attorney's

office. The district attorney's office shall notify the dealer

in writing within fifteen (15) days of the disposition of the

case. Willful noncompliance of a dealer to a written hold

order shall be cause for the dealer's license to either be

suspended or revoked. A hold order may be released

prior to the expiration of any thirty-day holding period by

written release from the agency placing the initial hold

order.

D. Upon approval of the Administrator, a dealer may also

designate an additional location for storage of items required to be

held under the provisions of the Precious Metal and Gem Dealer
dealer's license to either be

suspended or revoked. A hold order may be released

prior to the expiration of any thirty-day holding period by

written release from the agency placing the initial hold

order.

D. Upon approval of the Administrator, a dealer may also

designate an additional location for storage of items required to be

held under the provisions of the Precious Metal and Gem Dealer

Industry Act. This location shall be either a vault or a bank. The

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address of the designated additional location shall be filed with

the Administrator. The Administrator shall require documentation to

verify that the additional storage location will be utilized by the

dealer, including, but not limited to, a lease or rental agreement

between the dealer and the owner of the additional storage location.

The Administrator shall also require the name, contact person and

telephone number of the additional storage location. The

Administrator shall release the designated location only to law

enforcement agencies. The designated additional location shall be

available for inspection by the Department of Consumer Credit or any

law enforcement officer of this state authorized by the law

enforcement agency to inspect the same. A dealer shall provide

written notice to the Administrator at least thirty (30) days prior

to terminating a lease or rental agreement for an additional storage

location.