New Law Requires License to Buy or Sell Catalytic Converters in Indiana
Indiana Governor Eric Holcomb has signed a bill that regulates the sale of catalytic converters in an effort to protect vehicle owners from theft of the precious metal.
Secretary of State Holli Sullivan proposed the bill.
“Every day, Hoosiers vehicles across our state are targeted by thieves looking to make a quick buck by cutting out catalytic converters,” Secretary Sullivan said. “The metal component can be stolen in minutes, but can cost unsuspecting car owners thousands of dollars to repair and replace. Through our Automotive Dealer Services Division, we are committed to slowing this trending and protecting Hoosiers’ hard-earned money.
The new law defines catalytic converters as a “major component,” so only licensed salvage recyclers can buy or sell catalytic converters.
Salvage recyclers must keep the same records as precious metals dealers, caps cash payments for spare catalytic converters at $25 per purchase per day. Purchases of catalytic converters over $25 must be paid for by check.
The law also requires buyers to keep records of the sale, including:
- Name, address, age, and driver’s license or social security number of the person selling the item. The person’s identity must be verified via a government-issued ID
- The date and place of purchase.
- The motor vehicle registration number of the vehicle or conveyance on which the precious metal was delivered to the precious metal dealer.
- The price paid, a description and weight of the metal purchased and the source of the item sold
The buyer must take a photo of the seller and the item purchased.
The law comes into force on July 1, 2022.