Oregon Statutes 599.245 – Licensees bond
(1) Each person licensed to operate a livestock auction market shall maintain a bond approved by the State Department of Agriculture to secure the performance of statutory duties and private obligations incurred as the operator of such market. The bond shall be filed with the department and shall be renewed whenever the license is renewed. The bond shall be conditioned that the licensee shall pay all legal claims which may accrue against the licensee in favor of any seller or buyer of livestock, arising from the conduct of the licensee’s market.
Terms Used In Oregon Statutes 599.245
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means the State Department of Agriculture of the State of Oregon. See Oregon Statutes 599.205
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Licensee: means any person who operates a livestock auction market, either as owner or lessee, and who holds a license to conduct such market issued by the department pursuant to the provisions of this chapter. See Oregon Statutes 599.205
- Livestock: includes horses, mules, asses, cattle, sheep, swine, goats and poultry, including turkeys, of any age or sex. See Oregon Statutes 599.205
- Livestock auction market: means a place of business to which the public may consign livestock for sale by auction open to public bidding or sold on a commission basis, but, specifically, it does not include breed or livestock associations operating subject to and in compliance with the provisions of the Oregon Nonprofit Corporation Act, ORS Chapter 65, Future Farmer and 4-H groups, auction sales conducted in conjunction with county, state or private fairs or auction sales conducted by or for a person at which livestock of such person's ownership are sold on premises of the person. See Oregon Statutes 599.205
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Statute: A law passed by a legislature.
(2) The surety on each bond shall be a corporate surety licensed to do business as a surety within the State of Oregon.
(3) The surety shall not cancel the bond until 60 days after its written notice of such cancellation is received by the department, which notice shall be sent to the department and to the principal by registered or certified mail.
(4) The amount of the bond, after public hearing under ORS Chapter 183, shall be determined by reference by the department to a schedule which it shall establish. Such schedule which may vary depending on the type of livestock auction market operation, the estimated or actual volume of sales or other standards which the department deems necessary, in so far as is reasonable and practicable, shall conform to the bonding law and rules of the federal Packers and Stockyards Act prescribed in subsection (5) of this section. The department in addition may require before it gives its approval to a bond or renewal thereof that the applicant submit a financial statement or other information to assist the department in determining the necessary size or type of bond which may be necessary for the protection of persons who may be covered or affected thereby.
(5) Any livestock auction market licensee or applicant for license who presents to the department satisfactory evidence of compliance with the bonding provisions of the federal Packers and Stockyards Act of 1921, 7 U.S.C. § 181 to 228, as amended, and effective June 29, 1971, shall be deemed in compliance with the bonding requirements of this section during such time as the licensee or applicant complies with the bonding provisions of such federal statute. If a federal bond which has been deemed to be in compliance with the provisions of this section is canceled or terminated, the licensee shall immediately stop all operations of such market until another state or federal bond has been obtained by the licensee and approved by the appropriate agency, as required by law. Until another such bond has been obtained, the license of the market operator shall be deemed suspended and shall be surrendered to the department.
(6) If two or more persons have claims, either fixed or contingent, against a licensee’s bond maintained pursuant to subsection (1) of this section, they shall, subject to the provisions of ORS § 599.251, share pro rata in the proceeds of the bond to the extent of their actual damages except that the claims of the State of Oregon and the department referred to in subsection (1)(a) of this section shall have priority over, and shall be paid to the department prior to, all other claims or creditors. [1953 c.677 § 6; 1957 c.390 § 2; 1959 c.596 § 70; 1959 c.685 § 31; 1961 c.283 § 1; 1963 c.15 § 1; 1967 c.368 § 4; 1971 c.578 § 12]
[Repealed by 1953 c.677 § 22]