H.R. 4501 — Guarantee of a Legitimate Deal Act of 2010

Summary

Guarantee of a Legitimate Deal Act of 2010 - Prohibits any purchaser of precious metals from: (1) selling, transfering to a third party, or refining through melting or otherwise permanently destroying an item of jewelry or precious metal before the purchaser has received an affirmative acceptance of an offer to purchase the item from the consumer at a specific price; (2) failing to promptly return any jewelry or other precious metal if the consumer declines the offer; or (3) failing to adequately insure any return shipment. Exempts a sale or transfer to law enforcement agencies.

Deems a violation of this Act as an unfair or deceptive act or practice under the Federal Trade Commission Act. Gives the Federal Trade Commission (FTC) authority to enforce these provisions.

Makes this Act effective 60 days after enactment.

Legislative Actions

2010-01-21

Introduced in House

2010-01-21

Referred to the House Committee on Energy and Commerce.

2010-01-22

Referred to the Subcommittee on Commerce, Trade and Consumer Protection.

2010-05-13

Subcommittee Hearings Held.

2010-06-30

Subcommittee Consideration and Mark-up Session Held.

2010-06-30

Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .

2010-07-15

Committee Consideration and Mark-up Session Held.

2010-07-15

Ordered to be Reported (Amended) by Voice Vote.

2010-12-07

Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 111-673.

2010-12-07

Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 111-673.

2010-12-07

Placed on the Union Calendar, Calendar No. 402.

2010-12-08

Mr. Weiner moved to suspend the rules and pass the bill, as amended.

2010-12-08

Considered under suspension of the rules. (consideration: CR H8105-8107)

2010-12-08

DEBATE - The House proceeded with forty minutes of debate on H.R. 4501.

2010-12-08

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

2010-12-08

Considered as unfinished business. (consideration: CR H8151)

2010-12-08

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 324 - 81 (Roll no. 620).(text: CR H8105-8106)

Roll Call #620 (House)

2010-12-08

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 324 - 81 (Roll no. 620). (text: CR H8105-8106)

Roll Call #620 (House)

2010-12-08

Motion to reconsider laid on the table Agreed to without objection.

2010-12-09

Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation.

Guarantee of a Legitimate Deal Act of 2010

Sponsors

Subjects

Summary

Full Text

Legislative Actions

Ask about this bill