Effective 5/12/2020 4-30-105. License required — Application — Fee — Expiration — Renewal. (1) (a) No person may operate a livestock market in this state without a license issued by the department. (b) Application for a license shall be made to the department upon forms prescribed and furnished by the department, and the application shall […]
Effective 7/1/2021 4-30-106. Hearing on license application — Notice of hearing. (1) Upon the filing of an application, the department shall set a time for hearing on the application in the city or town nearest the proposed site of the livestock market and cause notice of the time and place of the hearing together with […]
Effective 5/12/2020 4-30-107. Guidelines delineated for decision on application. (1) The department, in determining whether to approve or deny the application, shall consider: (a) the applicant’s proven or potential ability to comply with the Packers and Stockyards Act, 7 U.S.C. Sec. 221 through 229b; (b) the financial stability, business integrity, and fiduciary responsibility of the […]
Effective 7/1/2017 4-30-108. Transfer of livestock market license permitted — Conditions. (1) No livestock market license is transferable to another person without the prior approval of the commissioner. (2) A change in the membership of a partnership or association, or the sale or transfer of a 25% or greater interest in the stock ownership of […]
Effective 7/1/2017 4-30-109. Financial responsibility. Each livestock market shall maintain a financial condition of total assets in excess of total liabilities, including total current assets in excess of total current liabilities. Renumbered and Amended by Chapter 345, 2017 General Session
Effective 7/1/2017 4-30-110. Custodial accounts for trust funds. (1) (a) Each payment that a livestock buyer makes to a livestock market selling on commission is a trust fund. (b) Funds deposited into custodial accounts are trust funds. (2) Each livestock market engaged in selling livestock on a commission or agency basis shall establish and maintain […]
Effective 7/1/2017 4-30-111. Weighman license required — Application — Fee — Bond — Expiration — Renewal. (1) (a) No person may act as a weighman at a livestock market without a license from the department. (b) Application for a weighman’s license shall be made to the department upon forms prescribed and furnished by the department. […]
Effective 7/1/2017 4-30-112. Suspension or revocation of license — Grounds. The department is authorized to suspend or revoke the license of any livestock market or livestock market weighman who: (1) violates any provision of this chapter or any rule made under this chapter; or (2) engages in any fraudulent or deceitful activity. Renumbered and Amended […]
