Louisiana: No Cash For Secondhand Goods
October 21, 2011 by Sam Rolley
If youâ€™re in Louisiana and you plan to buy secondhand goods, cash may be useless.
By order of new legislation in the State, House Bill 195, those who buy or sell secondhand goods are no longer allowed to use cash to complete the transactions more than once a month, according to The Consumerist.
Lawmakers in the State claim that the new legislation will cut down on theft of metal and other goods by creating a paper trail of money orders, checks and electronic transactions for police to use as investigative leads.
The law puts requirements on any individual who has a yard sale more than one time in a month and will also affect trading posts and flea markets. They will now all be required to keep detailed records of transactions by logging customer IDs and accepting only checks, money orders or electronic transfers. Many individuals who operate trading posts and flea markets reportedly are unaware of the new law, but backlash is expected as knowledge of the cumbersome fiscal regulation spreads.Â Â
“The government is placing a significant restriction on individuals transacting in their own private property,” Thad Ackel Jr., a lawyer in the State told KLFY.
Pawn shops, which were already required to record transactions in detail, and nonprofit organizations are exempt from the law.