Montana Code 81-8-214. Regulation of certain nonmarket sales
81-8-214. Regulation of certain nonmarket sales. (1) A person not a livestock market operator authorized under this part conducting the sale of livestock in a breed sale, a breed association sale, or at a test station sale, except when all of the livestock are owned by that person and are being sold from that person’s own place, shall obtain approval from the department before conducting the sale.
Terms Used In Montana Code 81-8-214
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- custodial account: means a separate account established and maintained by a livestock market or livestock video auction engaged in selling livestock on a commission or agency basis. See Montana Code 81-8-213
- Department: means the department of livestock provided for in Title 2, chapter 15, part 31. See Montana Code 81-8-213
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Livestock: means cattle, calves, hogs, pigs, horses, mules, sheep, lambs, and goats. See Montana Code 81-8-213
- Person: means an individual, firm, association, partnership, or corporation. See Montana Code 81-8-213
- Test station sale: means the sale of livestock from a place where livestock is taken to measure rates of gain under uniform feeding conditions when that place is not owned by the owner of the livestock. See Montana Code 81-8-213
(2)The department, as conditions to granting approval, may require:
(a)the names and addresses of those conducting the sale;
(b)the date and time when and the place where the sale will be conducted;
(c)a detailed statement of the assets and liabilities of the persons conducting the sale;
(d)the establishment of a custodial account into which all money received for the sale of livestock must be deposited;
(e)the posting of a reasonable bond or its equivalent in an amount determined by the department;
(f)the commissions or charges proposed to be imposed on the owners of livestock for services associated with the sale;
(g)a guarantee to pay all consignors in full within a reasonable time as set by the department; and
(h)other information that the department considers necessary.