Source: https://regulations.atf.gov/555-124/2019-06266
Timestamp: 2020-03-31 10:12:32
Document Index: 187128266

Matched Legal Cases: ['§ 555', 'art;\n2', '§ 555', '§ 555', '§ 555', '§ 555', '§555']

27 CFR § 555.124 | eRegulations
a.(a) Each licensed dealer shall take true and accurate physical inventories which will include all explosive materials on hand required to be accounted for in the records kept under this part. The licensed dealer shall take a special inventory
1.(1) At the time of commencing business, which is the effective date of the license issued upon original qualification under this part;
2.(2) At the time of changing the location of his premises to another region;
3.(3) At the time of discontinuing business; and
4.(4) At any other time the Director, Industry Operations may in writing require. Each special inventory is to be prepared in duplicate, the original of which is submitted to the Director, Industry Operations, and the duplicate retained by the licensed dealer. If a special inventory required by paragraphs (a) (1) through (4) of this section has not been taken during the calendar year, at least one physical inventory will be taken. However, the record of the yearly inventory, other than a special inventory required by paragraphs (a) (1) through (4) of this section, will remain on file for inspection instead of being sent to the Director, Industry Operations. (See also § 555.127.)
b.(b) Each licensed dealer shall, not later than the close of the next business day following the date of purchase or other acquisition of explosive materials (except as provided in paragraph (d) of this section), enter the following information in a separate record:
1.(1) Date of acquisition.
2.(2) Name or brand name of manufacturer and name of importer (if any).
3.(3) Manufacturer's marks of identification.
4.(4) Quantity (applicable quantity units, such as pounds of explosives, number of detonators, number of display fireworks, etc.).
5.(5) Description (dynamite (dyn), blasting agents (ba), detonators (det), display fireworks (df), etc.) and size (length and diameter or diameter only of display fireworks).
6.(6) Name, address, and license or permit number of the person from whom the explosive materials are received.
c.(c) Each licensed dealer shall, not later than the close of the next business day following the date of use (if the explosives are used by the dealer) or the date of distribution of any explosive materials to another licensee or a permittee (except as provided in paragraph (d) of this section), enter in a separate record the following information:
1.(1) Date of disposition.
6.(6) License or permit number of licensee or permittee to whom the explosive materials are distributed.
d.(d) When a commercial record is kept by a licensed dealer showing the purchase or other acquisition information required for the permanent record prescribed by paragraph (b) of this section, or showing the distribution information required for the permanent record prescribed by paragraph (c) of this section, the licensed dealer acquiring or distributing the explosive materials may, for a period not exceeding seven days following the date of acquisition of distribution of the explosive materials, delay making the required entry into the permanent record of acquisition or distribution. However, until the required entry of acquisition or disposition is made in the permanent record, the commercial record must be (1) kept by the licensed dealer separate from other commercial documents kept by the licensee, and (2) readily available for inspection on the licensed premises.
e.(e) The Chief, Explosives Industry Programs Branch may authorize alternate records to be maintained by a licensed dealer to record his acquisition or disposition of explosive materials, when it is shown by the licensed dealer that alternate records will accurately and readily disclose the required information. A licensed dealer who proposes to use alternate records shall submit a letter application to the Chief, Explosives Industry Programs Branch and shall describe the proposed alternate records and the need for them. Alternate records are not to be employed by the licensed dealer until approval is received from the Chief, Explosives Industry Programs Branch.
f.(f) Each licensed dealer shall maintain separate records of the sales or other distribution made of explosive materials to nonlicensees or nonpermittees. These records are maintained as prescribed by § 555.126.
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Is there a requirement for licensees and permittees to make an annual inventory of explosive materials on hand?
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