Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-23-101. Definitions

(2) “Permanent place of business” means a fixed premises either owned by a person or leased by a person for a period of at least one (1) year and located in the State of Arkansas;

(3) “Person” means any individual, partnership, corporation, association, or other business entity;

(4) “Precious items” means precious or semiprecious stones or pearls whether mounted or unmounted;

(5) “Precious metals” means an article made, in whole or in part, of gold, silver, platinum, or a combination of gold, silver, or platinum;

(6) “Purchase” means the acquisition of a precious metal or a precious item, or both, for a consideration of cash, goods, or other precious metals or precious items; and

(7) “Silver” means sterling silver.