(1) A person shall not engage in the business of purchasing precious metals or precious items from the general public for the purpose of reselling the precious metals or precious items in any condition without first registering with the local law enforcement agency in the jurisdiction as provided under this section and in the manner provided under § 17-23-202.
(2) If the person has a permanent place of business in the State of Arkansas and the transaction is being conducted at the person's permanent place of business, the person shall register with the local law enforcement agency in the jurisdiction of the permanent place of business.
(3) A person shall register with the local law enforcement agency in the jurisdiction where the transaction occurs if the person: Has a permanent place of business in the State of Arkansas and the transaction is being conducted from a location that is different from the person's permanent place of business; or
(4) Is a nonresident that enters into an association or partnership with a person that is required to register with the local law enforcement agency having jurisdiction under subdivision (c)(1) of this section.