§ 2-32-401. Title

This subchapter shall be known and may be cited as the “Livestock Owner’s Lien Act”.

§ 2-32-402. Definitions

As used in this subchapter: (1) “Affiliate” means a person that: (A) Is directly or indirectly controlled by a first purchaser; or (B) Directly or indirectly controls a first purchaser; (2) “Agreement to sell” means an enforceable oral or written agreement by which a livestock owner, either directly or through a sales agent, agrees to […]

§ 2-32-403. Livestock lien

(a) (1) To secure the obligations of a first purchaser to pay the sales price, a livestock owner is granted a lien in all livestock sold by the livestock owner for any unpaid portion of the sales price for the livestock. (2) The lien granted under this section is granted and shall exist as part […]

§ 2-32-404. Perfection of livestock lien

An owner’s lien is perfected automatically from August 16, 2013, or the date a sales agreement is executed after August 16, 2013, without the need to file a financing statement or other type of documentation.

§ 2-32-405. Commingled livestock — Priority

(a) If livestock subject to an owner’s lien are commingled with other livestock in a manner that the identity of the specific livestock subject to the owner’s lien cannot be determined by reasonable means, the owner’s lien continues without interruption into and attaches to the commingled livestock and is perfected automatically as of the date […]

§ 2-32-406. Transfer of lien — Priority

(a) (1) A purchaser or sales agent takes free of an owner’s lien otherwise applicable to the livestock purchased and is relieved of any obligations created under § 2-32-403 if the purchaser or sales agent pays the full amount of required consideration for the livestock under a good faith, noncollusive agreement to purchase the livestock. […]

§ 2-32-407. Lien priority generally

Except for a permitted lien, an owner’s lien takes priority over any other lien regardless of whether the lien arises by contract, law, equity, or otherwise.

§ 2-32-408. Applicability

This subchapter does not affect the time at which legal title to livestock may pass by agreement or operation of law subject to an owner’s lien.

§ 2-32-409. Waiver, relinquishment, or release of lien prohibited

(a) (1) A livestock owner shall not be required as a condition or term of an agreement to sell or otherwise to: (A) Waive, relinquish, or release an owner’s lien or any rights under this subchapter other than upon payment in full of the sales price; or (B) Agree to a provision that would apply […]

§ 2-32-410. Lien expiration — Action on an owner’s lien

(a) An owner’s lien expires one (1) year after the last day of the month following the date the sales price from the sale of livestock subject to the lien is required by law or contract to be paid to the livestock owner but only as to the particular livestock sold during the month unless […]

§ 2-32-411. Preference

If this subchapter conflicts with other rights a livestock owner may have, the livestock owner’s right to receive the sales price shall be given preference.