Mississippi Code Title 75. Regulation of Trade, Commerce and Investments § 75-95-1

(a) “Dealer” means any person, corporation or partnership that engages in the business of purchasing precious items for the purpose of reselling such items in any form. The term “dealer” does not include a manufacturer, retail merchant, pawnbroker licensed under the Mississippi Pawnshop Act (Article 7, Chapter 67, Title 75, Mississippi Code of 1972) or person in the wholesale business, nor does it include any person who purchases precious items at a social gathering in a private residence.

(b) “Local law enforcement agency” means the chief of police for businesses located within the jurisdiction of a municipality and the county sheriff for businesses located outside the jurisdiction of a municipality.

(c) “Permanent place of business” means a fixed premises either owned by the dealer or leased by the dealer for at least one (1) year.

(d) “Precious item” means any of the following:

(e) “Purchase” means the acquisition of a precious item or items for a consideration of cash, goods or another precious item.