(1) It shall be unlawful to purchase slaughter livestock for other than cash or by negotiable instrument drawn upon a banking institution located within the same federal reserve district in which the purchaser’s slaughter establishment is situated. This section shall not require payment in cash or by negotiable instrument in lieu of an express agreement in writing to the contrary.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

(2) It shall be unlawful for a purchaser to engage in business in such a way that the purchaser causes accounts receivable to be paid directly to an out-of-state depository not under the control of the purchaser rather than directly to the purchaser if such business practice circumvents the rights of the seller.