- No dealer shall purchase livestock at any sales establishment or directly from producers unless he or she has then in force a surety in an amount established in a memorandum of agreement with the department sufficient to secure the performance of the obligations of the holder of such surety.
- This Code section shall not be applicable to nor shall a surety be required of a dealer who purchases livestock at sales establishments for cash only. No livestock market operator shall permit a dealer who is not properly licensed and holding surety to purchase livestock other than for cash.
History. Ga. L. 1956, p. 501, § 3; Ga. L. 1958, p. 309, § 2; Ga. L. 1959, p. 296, § 2; Ga. L. 1970, p. 530, § 1; Ga. L. 1982, p. 1804, § 3; Ga. L. 1983, p. 1161, § 1; Ga. L. 1984, p. 22, § 4; Ga. L. 2017, p. 129, § 9/HB 49.
The 2017 amendment, effective July 1, 2017, rewrote subsection (a); deleted former subsection (b), which read: “An amount calculated under subsection (a) of this Code section, if not a multiple of $5,000.00, shall be rounded up to the nearest multiple of $5,000.00.”; redesignated former subsection (c) as present subsection (b); and, in subsection (b), substituted “surety” for “bond” in the first sentence, and in the second sentence, substituted “dealer who is not properly licensed and holding surety” for “dealer or broker who is not properly licensed and bonded”.
Editor’s notes.
The 1984 amendment, effective February 3, 1984, directed that “One hundred thirty” be substituted for “130” in subparagraph (a)(1)(B). The Act should have directed that the change be made in subparagraph (a)(2)(B) instead, and this Code section has been edited accordingly.